Piedmont Office Realty Trust (PDM) Cut to Hold at ValuEngine

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts have also commented on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 target price on shares of Piedmont Office Realty Trust in a report on Friday, November 3rd. Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, SunTrust Banks set a $21.00 target price on shares of Piedmont Office Realty Trust and gave the company a “hold” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Piedmont Office Realty Trust currently has a consensus rating of “Hold” and an average price target of $22.00.

Piedmont Office Realty Trust (PDM) traded down $0.82 during mid-day trading on Thursday, reaching $17.47. 1,833,891 shares of the company’s stock traded hands, compared to its average volume of 1,373,811. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.78. Piedmont Office Realty Trust has a 52-week low of $17.47 and a 52-week high of $23.08. The company has a market cap of $2,652.11, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.75 and a beta of 0.55.

In other Piedmont Office Realty Trust news, Director Wesley E. Cantrell sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $20.02, for a total value of $150,150.00. Following the transaction, the director now directly owns 35,973 shares of the company’s stock, valued at approximately $720,179.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its stake in shares of Piedmont Office Realty Trust by 0.4% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,666 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 18 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Piedmont Office Realty Trust by 3.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,400 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 200 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of Piedmont Office Realty Trust in the 1st quarter valued at approximately $141,000. Advisory Services Network LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 1st quarter valued at approximately $141,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at approximately $135,000. Institutional investors own 83.70% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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