ValuEngine lowered shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of Piedmont Office Realty Trust from a hold rating to a sell rating in a research note on Saturday, June 24th. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a hold rating to a buy rating and set a $24.00 price target on the stock in a research note on Wednesday, July 5th. Finally, Robert W. Baird raised shares of Piedmont Office Realty Trust from a neutral rating to an outperform rating and raised their price target for the stock from $23.00 to $24.00 in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $22.83.

Shares of Piedmont Office Realty Trust (NYSE PDM) opened at 20.36 on Wednesday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 52.88 and a beta of 0.61. Piedmont Office Realty Trust has a 52 week low of $18.61 and a 52 week high of $23.08. The stock’s 50 day moving average is $20.29 and its 200-day moving average is $21.18.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $148.70 million for the quarter, compared to the consensus estimate of $147.66 million. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. On average, equities analysts anticipate that Piedmont Office Realty Trust will post $0.50 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Wednesday, August 23rd. Piedmont Office Realty Trust’s payout ratio is 221.06%.

Several large investors have recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new stake in shares of Piedmont Office Realty Trust in the 2nd quarter valued at about $485,000. Piedmont Investment Advisors LLC bought a new stake in shares of Piedmont Office Realty Trust in the 2nd quarter valued at about $2,510,000. Susquehanna International Group LLP boosted its holdings in shares of Piedmont Office Realty Trust by 78.5% in the 2nd quarter. Susquehanna International Group LLP now owns 135,545 shares of the real estate investment trust’s stock valued at $2,857,000 after buying an additional 59,630 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Piedmont Office Realty Trust by 8.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,216 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 1,536 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Piedmont Office Realty Trust by 84.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 14,150 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 6,465 shares in the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.

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.

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

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