Piedmont Office Realty Trust (NYSE:PDM) Raised to “Hold” at StockNews.com

Piedmont Office Realty Trust (NYSE:PDM) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

PDM has been the topic of several other research reports. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird lowered shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Thursday, January 16th.

Piedmont Office Realty Trust Trading Down 8.4 %

Shares of NYSE PDM traded down $0.67 during trading on Monday, hitting $7.29. 2,141,027 shares of the company were exchanged, compared to its average volume of 549,619. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. Piedmont Office Realty Trust has a 12-month low of $5.93 and a 12-month high of $11.11. The company has a fifty day moving average price of $8.70 and a 200-day moving average price of $9.34. The firm has a market capitalization of $904.33 million, a PE ratio of -11.76 and a beta of 1.19.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $143.23 million during the quarter, compared to analysts’ expectations of $142.16 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. As a group, equities research analysts expect that Piedmont Office Realty Trust will post 1.49 EPS for the current year.

Institutional Trading of Piedmont Office Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in shares of Piedmont Office Realty Trust by 809.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 3,520 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Piedmont Office Realty Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,241 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Piedmont Office Realty Trust by 51.3% in the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,666 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Piedmont Office Realty Trust by 25.4% during the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 1,216 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at $59,000. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

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.