Piedmont Office Realty Trust (NYSE:PDM) Stock Rating Lowered by StockNews.com

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Several other research firms have also issued reports on PDM. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Robert W. Baird lowered shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Thursday.

Piedmont Office Realty Trust Trading Up 0.3 %

NYSE PDM traded up $0.03 during trading hours on Monday, reaching $8.81. The company had a trading volume of 446,382 shares, compared to its average volume of 720,512. Piedmont Office Realty Trust has a 1-year low of $5.93 and a 1-year high of $11.11. The stock has a market capitalization of $1.09 billion, a P/E ratio of -14.20 and a beta of 1.19. The stock has a 50-day moving average of $9.13 and a 200 day moving average of $9.31. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.36.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.46). The company had revenue of $139.29 million during the quarter, compared to analyst estimates of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same quarter last year, the business posted $0.43 EPS. As a group, research analysts anticipate that Piedmont Office Realty Trust will post 1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Piedmont Office Realty Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,241 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Piedmont Office Realty Trust by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 1,311 shares during the last quarter. abrdn plc grew its holdings in Piedmont Office Realty Trust by 5.9% during the 3rd quarter. abrdn plc now owns 24,341 shares of the real estate investment trust’s stock worth $246,000 after acquiring an additional 1,366 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,666 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Piedmont Office Realty Trust by 15.1% in the 3rd quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 1,678 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.