Piedmont Office Realty Trust’s (PDM) Buy Rating Reaffirmed at Truist Financial

Piedmont Office Realty Trust (NYSE:PDM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Truist Financial in a research note issued on Wednesday, Benzinga reports. They currently have a $11.00 target price on the real estate investment trust’s stock, up from their previous target price of $10.00. Truist Financial’s price objective points to a potential upside of 23.87% from the stock’s previous close.

Separately, StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

Piedmont Office Realty Trust Stock Performance

Shares of PDM remained flat at $8.88 during trading hours on Wednesday. The stock had a trading volume of 62,254 shares, compared to its average volume of 898,225. The company has a market cap of $1.10 billion, a P/E ratio of -14.61 and a beta of 1.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.40 and a quick ratio of 2.40. Piedmont Office Realty Trust has a 52-week low of $4.91 and a 52-week high of $8.96. The business’s 50 day moving average price is $7.78 and its two-hundred day moving average price is $7.08.

Institutional Trading of Piedmont Office Realty Trust

Several large investors have recently added to or reduced their stakes in PDM. Evergreen Capital Management LLC boosted its stake in shares of Piedmont Office Realty Trust by 57.2% in the second quarter. Evergreen Capital Management LLC now owns 35,759 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 13,017 shares during the last quarter. Sei Investments Co. purchased a new position in Piedmont Office Realty Trust during the second quarter worth approximately $85,000. XTX Topco Ltd purchased a new position in Piedmont Office Realty Trust during the second quarter worth approximately $132,000. Hsbc Holdings PLC boosted its position in Piedmont Office Realty Trust by 15.4% during the second quarter. Hsbc Holdings PLC now owns 116,479 shares of the real estate investment trust’s stock worth $840,000 after purchasing an additional 15,584 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Piedmont Office Realty Trust by 16.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,636 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 6,556 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.