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

Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Piedmont Office Realty Trust from a strong sell rating to a sell rating in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a hold rating and issued a $21.00 price target on shares of Piedmont Office Realty Trust in a research report on Thursday, September 21st. 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 company from $23.00 to $24.00 in a research report on Monday, August 28th. Finally, Zacks Investment Research cut shares of Piedmont Office Realty Trust from a buy rating to a hold rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Piedmont Office Realty Trust presently has a consensus rating of Hold and an average target price of $23.00.

Shares of Piedmont Office Realty Trust (NYSE:PDM) opened at 20.30 on Monday. Piedmont Office Realty Trust has a 12-month low of $18.61 and a 12-month high of $23.08. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 52.73 and a beta of 0.60. The company’s 50-day moving average price is $20.15 and its 200 day moving average price is $21.02.

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

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a $0.21 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.84 annualized dividend and a yield of 4.14%. Piedmont Office Realty Trust’s payout ratio is 221.06%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Piedmont Office Realty Trust by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 23,021,266 shares of the real estate investment trust’s stock valued at $492,194,000 after acquiring an additional 511,212 shares in the last quarter. BlackRock Inc. lifted its position in Piedmont Office Realty Trust by 1.0% in the 2nd quarter. BlackRock Inc. now owns 9,707,520 shares of the real estate investment trust’s stock valued at $204,634,000 after acquiring an additional 97,660 shares in the last quarter. LSV Asset Management lifted its position in Piedmont Office Realty Trust by 1.4% in the 2nd quarter. LSV Asset Management now owns 6,801,281 shares of the real estate investment trust’s stock valued at $143,370,000 after acquiring an additional 95,600 shares in the last quarter. American Century Companies Inc. lifted its position in Piedmont Office Realty Trust by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 5,265,600 shares of the real estate investment trust’s stock valued at $110,999,000 after acquiring an additional 54,084 shares in the last quarter. Finally, State Street Corp lifted its position in Piedmont Office Realty Trust by 4.5% in the 1st quarter. State Street Corp now owns 4,777,715 shares of the real estate investment trust’s stock valued at $102,146,000 after acquiring an additional 205,578 shares in the last quarter. 82.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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