Piedmont Office Realty Trust, Inc. (NYSE:PDM) has earned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $21.67.
A number of research analysts have recently commented on the company. Zacks Investment Research raised 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. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed 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. Finally, SunTrust Banks set a $21.00 target price on Piedmont Office Realty Trust and gave the company a “hold” rating in a research note on Monday.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Piedmont Office Realty Trust during the third quarter valued at approximately $135,000. Wealthcare Advisory Partners LLC bought a new position in shares of Piedmont Office Realty Trust during the third quarter valued at approximately $144,000. PNC Financial Services Group Inc. grew its stake in Piedmont Office Realty Trust by 19.4% in the second 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 in the last quarter. Allianz Asset Management GmbH bought a new position in Piedmont Office Realty Trust in the third quarter worth approximately $205,000. Finally, Nisa Investment Advisors LLC grew its stake in Piedmont Office Realty Trust by 123.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,600 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 6,400 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ 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 period in the previous year, the firm posted $0.41 earnings per share. equities analysts predict that Piedmont Office Realty Trust will post 1.75 EPS for the current fiscal year.
The firm also recently announced a None dividend, which was paid on Tuesday, January 9th. Stockholders of record on Tuesday, December 26th were paid a dividend of $0.50 per share. This is a boost from Piedmont Office Realty Trust’s previous None dividend of $0.21. The ex-dividend date of this dividend was Friday, December 22nd. This represents a dividend yield of 4.16%. Piedmont Office Realty Trust’s dividend payout ratio is currently 62.69%.
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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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