Piedmont Office Realty Trust (NYSE:PDM) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

PDM has been the topic of several other research reports. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, October 11th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 target price on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. BidaskClub cut shares of Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, Robert W. Baird raised shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $23.00 to $24.00 in a research note on Monday, August 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Piedmont Office Realty Trust presently has an average rating of “Hold” and a consensus target price of $22.33.

Piedmont Office Realty Trust (PDM) traded up $0.10 during trading on Friday, reaching $20.04. 809,820 shares of the company’s stock traded hands, compared to its average volume of 731,927. The firm has a market cap of $2,878.78, a PE ratio of 11.27, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.15 and a current ratio of 2.15. Piedmont Office Realty Trust has a 52-week low of $19.10 and a 52-week high of $23.08.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $137.59 million for the quarter, compared to analysts’ expectations of $140.39 million. Piedmont Office Realty Trust had a net margin of 33.72% and a return on equity of 4.06%. During the same quarter last year, the company earned $0.41 EPS. equities research analysts anticipate that Piedmont Office Realty Trust will post 1.75 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of Piedmont Office Realty Trust in the 3rd quarter worth approximately $135,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Piedmont Office Realty Trust in the 3rd quarter worth approximately $144,000. SG Americas Securities LLC grew its stake in shares of Piedmont Office Realty Trust by 4.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,060 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 364 shares during the last quarter. Blue Sky Asset Management LLC acquired a new position in shares of Piedmont Office Realty Trust in the 2nd quarter worth approximately $173,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Piedmont Office Realty Trust by 19.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 1,404 shares during the last quarter. 83.29% of the stock is currently owned by institutional investors.

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Piedmont Office Realty Trust Company Profile

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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