Analysts Set Piedmont Office Realty Trust, Inc. (NYSE:PDM) Price Target at $22.50

Piedmont Office Realty Trust, Inc. (NYSE:PDM) has been assigned an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.50.

Several equities analysts recently issued reports on PDM shares. DA Davidson lowered Piedmont Office Realty Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 23rd. Zacks Investment Research lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Robert W. Baird set a $25.00 price target on Piedmont Office Realty Trust and gave the stock a “hold” rating in a research report on Wednesday, August 21st.

PDM traded up $0.15 on Friday, hitting $20.73. 7,576 shares of the company were exchanged, compared to its average volume of 526,570. The firm has a fifty day simple moving average of $20.00 and a two-hundred day simple moving average of $20.40. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.96 and a current ratio of 1.96. Piedmont Office Realty Trust has a 12 month low of $16.43 and a 12 month high of $21.40. The stock has a market capitalization of $2.60 billion, a PE ratio of 11.97 and a beta of 0.71.



Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.38). Piedmont Office Realty Trust had a return on equity of 6.98% and a net margin of 22.60%. The company had revenue of $130.67 million for the quarter, compared to the consensus estimate of $128.06 million. On average, equities analysts expect that Piedmont Office Realty Trust will post 1.77 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a $0.21 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.05%. Piedmont Office Realty Trust’s dividend payout ratio is currently 48.55%.

Several hedge funds have recently modified their holdings of PDM. Geode Capital Management LLC grew its position in shares of Piedmont Office Realty Trust by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 1,767,919 shares of the real estate investment trust’s stock worth $30,125,000 after buying an additional 162,893 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Piedmont Office Realty Trust by 8.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 120,139 shares of the real estate investment trust’s stock worth $2,505,000 after buying an additional 9,028 shares during the last quarter. Affinity Investment Advisors LLC bought a new stake in shares of Piedmont Office Realty Trust in the 1st quarter worth approximately $409,000. Csenge Advisory Group grew its position in shares of Piedmont Office Realty Trust by 30.1% in the 1st quarter. Csenge Advisory Group now owns 36,160 shares of the real estate investment trust’s stock worth $753,000 after buying an additional 8,368 shares during the last quarter. Finally, Forsta AP Fonden grew its position in shares of Piedmont Office Realty Trust by 43.8% in the 1st quarter. Forsta AP Fonden now owns 21,000 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 6,400 shares during the last quarter. Hedge funds and other institutional investors own 85.98% of the company’s stock.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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