Piedmont Office Realty Trust (NYSE:PDM) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other analysts have also issued reports on PDM. BidaskClub lowered Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, October 11th. Robert W. Baird raised Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $23.00 to $24.00 in a research note on Monday, August 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Piedmont Office Realty Trust in a research note on Thursday, September 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Piedmont Office Realty Trust presently has an average rating of “Hold” and an average price target of $22.33.

Shares of Piedmont Office Realty Trust (PDM) opened at $20.04 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.78. Piedmont Office Realty Trust has a 52 week low of $19.10 and a 52 week high of $23.08. The stock has a market capitalization of $2,893.21, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.87 and a beta of 0.62.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. The firm had revenue of $137.59 million for the quarter, compared to analyst estimates of $140.39 million. During the same period last year, the company earned $0.41 EPS. equities analysts predict that Piedmont Office Realty Trust will post 1.75 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of 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 purchasing an additional 97,660 shares in the last quarter. LSV Asset Management lifted its stake in shares of 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 purchasing an additional 95,600 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 54,084 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Piedmont Office Realty Trust by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,306,576 shares of the real estate investment trust’s stock worth $46,501,000 after acquiring an additional 41,312 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Piedmont Office Realty Trust by 14.1% during the 2nd quarter. Northern Trust Corp now owns 2,291,801 shares of the real estate investment trust’s stock worth $48,311,000 after acquiring an additional 283,654 shares in the last quarter. 83.29% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “ValuEngine Upgrades Piedmont Office Realty Trust (PDM) to Buy” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://www.thecerbatgem.com/2017/12/03/valuengine-upgrades-piedmont-office-realty-trust-pdm-to-buy.html.

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.

Receive News & Stock Ratings for Piedmont Office Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust Inc. and related stocks with our FREE daily email newsletter.