Piedmont Office Realty Trust (PDM) Rating Lowered to Sell at ValuEngine

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

PDM has been the topic of several other research reports. TheStreet lowered Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research report on Monday, October 8th. Zacks Investment Research lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.67.

Shares of NYSE PDM opened at $17.87 on Friday. The company has a current ratio of 1.75, a quick ratio of 2.07 and a debt-to-equity ratio of 0.99. Piedmont Office Realty Trust has a fifty-two week low of $16.69 and a fifty-two week high of $20.57. The stock has a market cap of $2.29 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $129.71 million for the quarter, compared to analyst estimates of $127.24 million. During the same quarter last year, the company earned $0.42 EPS. Equities analysts forecast that Piedmont Office Realty Trust will post 1.7 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in Piedmont Office Realty Trust by 0.6% during the third quarter. American Century Companies Inc. now owns 5,021,416 shares of the real estate investment trust’s stock worth $95,055,000 after buying an additional 32,169 shares during the period. Meeder Asset Management Inc. increased its position in Piedmont Office Realty Trust by 112.9% during the third quarter. Meeder Asset Management Inc. now owns 36,629 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 19,423 shares during the period. Private Advisor Group LLC acquired a new position in Piedmont Office Realty Trust during the third quarter worth approximately $438,000. Foster & Motley Inc. increased its position in Piedmont Office Realty Trust by 34.2% during the third quarter. Foster & Motley Inc. now owns 123,279 shares of the real estate investment trust’s stock worth $2,334,000 after buying an additional 31,401 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Piedmont Office Realty Trust by 44.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 76,864 shares of the real estate investment trust’s stock worth $1,455,000 after buying an additional 23,575 shares during the period. 86.60% 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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