Piedmont Office Realty Trust, Inc. (PDM) Rating Reiterated by Stifel Nicolaus
Piedmont Office Realty Trust, Inc. (NYSE:PDM)‘s stock had its “hold” rating reissued by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday. They currently have a $20.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ price target suggests a potential upside of 1.37% from the company’s previous close.
PDM has been the topic of several other research reports. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, October 11th. BidaskClub cut Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Finally, Robert W. Baird upgraded Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $23.00 to $24.00 in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.33.
Piedmont Office Realty Trust (PDM) traded up $0.40 during mid-day trading on Friday, hitting $19.73. 970,677 shares of the stock traded hands, compared to its average volume of 823,783. The stock has a market capitalization of $2,871.56, a PE ratio of 11.24 and a beta of 0.62.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. The company had revenue of $137.59 million for the quarter, compared to analysts’ expectations of $140.39 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. research analysts expect that Piedmont Office Realty Trust will post 1.75 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the business. LSV Asset Management lifted its holdings in Piedmont Office Realty Trust by 1.4% during the second quarter. LSV Asset Management now owns 6,801,281 shares of the real estate investment trust’s stock worth $143,370,000 after buying an additional 95,600 shares during the period. American Century Companies Inc. lifted its holdings in Piedmont Office Realty Trust by 1.0% during the second quarter. American Century Companies Inc. now owns 5,265,600 shares of the real estate investment trust’s stock worth $110,999,000 after buying an additional 54,084 shares during the period. WBI Investments Inc. purchased a new stake in Piedmont Office Realty Trust during the second quarter worth $7,498,000. Paragon Capital Management Ltd purchased a new stake in Piedmont Office Realty Trust during the second quarter worth $246,000. Finally, AQR Capital Management LLC lifted its holdings in Piedmont Office Realty Trust by 17.8% during the first quarter. AQR Capital Management LLC now owns 190,109 shares of the real estate investment trust’s stock worth $4,065,000 after buying an additional 28,664 shares during the period. Institutional investors own 82.68% of the company’s stock.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.
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