ValuEngine downgraded shares of Piedmont Office Realty Trust (NYSE:PDM) from a hold rating to a sell rating in a report published on Friday morning.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Piedmont Office Realty Trust from a buy rating to a hold rating in a research note on Wednesday, October 24th. TheStreet downgraded Piedmont Office Realty Trust from a b- rating to a c+ rating in a research note on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Piedmont Office Realty Trust has an average rating of Hold and a consensus target price of $21.67.
NYSE PDM opened at $18.07 on Friday. Piedmont Office Realty Trust has a 12 month low of $16.69 and a 12 month high of $20.57. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 1.31 and a beta of 0.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.75 and a current ratio of 1.75.
Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Piedmont Office Realty Trust had a return on equity of 2.95% and a net margin of 10.13%. The firm had revenue of $129.71 million for the quarter, compared to analyst estimates of $127.24 million. During the same quarter in the previous year, the company posted $0.42 EPS. Equities research analysts expect that Piedmont Office Realty Trust will post 1.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, November 30th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, November 29th. Piedmont Office Realty Trust’s dividend payout ratio is 48.00%.
In other Piedmont Office Realty Trust news, Director Dale H. Taysom acquired 2,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were bought at an average cost of $17.85 per share, with a total value of $35,700.00. Following the purchase, the director now directly owns 16,808 shares of the company’s stock, valued at $300,022.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in PDM. Legal & General Group Plc lifted its stake in shares of Piedmont Office Realty Trust by 10.2% in the 1st quarter. Legal & General Group Plc now owns 573,357 shares of the real estate investment trust’s stock valued at $10,086,000 after purchasing an additional 52,966 shares during the period. Royal Bank of Canada lifted its stake in shares of Piedmont Office Realty Trust by 36.5% in the 1st quarter. Royal Bank of Canada now owns 453,576 shares of the real estate investment trust’s stock valued at $7,979,000 after purchasing an additional 121,220 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Piedmont Office Realty Trust by 76.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 23,818 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 10,300 shares during the period. Atria Investments LLC acquired a new position in Piedmont Office Realty Trust during the 2nd quarter worth approximately $216,000. Finally, Bank of Montreal Can raised its stake in Piedmont Office Realty Trust by 44.9% during the 2nd quarter. Bank of Montreal Can now owns 549,370 shares of the real estate investment trust’s stock worth $10,949,000 after buying an additional 170,234 shares during the period. 87.41% of the stock is currently owned by institutional investors.
Piedmont Office Realty Trust Company Profile
Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.
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