Piedmont Office Realty Trust’s (PDM) Buy Rating Reaffirmed at Truist Financial

Piedmont Office Realty Trust (NYSE:PDM)‘s stock had its “buy” rating restated by analysts at Truist Financial in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $10.00 price target on the real estate investment trust’s stock, down from their prior price target of $11.00. Truist Financial’s price objective points to a potential upside of 38.31% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird dropped their price target on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday.

Piedmont Office Realty Trust Stock Up 2.6 %

PDM traded up $0.18 on Tuesday, hitting $7.23. 68,861 shares of the company were exchanged, compared to its average volume of 774,188. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. Piedmont Office Realty Trust has a 12 month low of $5.93 and a 12 month high of $11.11. The stock’s fifty day moving average is $8.49 and its 200-day moving average is $9.30. The company has a market cap of $898.63 million, a PE ratio of -11.48 and a beta of 1.19.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. Equities research analysts predict that Piedmont Office Realty Trust will post 1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PDM. Barclays PLC boosted its stake in Piedmont Office Realty Trust by 88.7% during the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock valued at $2,398,000 after buying an additional 111,596 shares during the period. JPMorgan Chase & Co. lifted its position in Piedmont Office Realty Trust by 45.3% in the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock valued at $15,501,000 after purchasing an additional 478,560 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Piedmont Office Realty Trust by 72.5% during the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust’s stock valued at $1,519,000 after purchasing an additional 62,233 shares during the period. Choreo LLC grew its holdings in shares of Piedmont Office Realty Trust by 4.0% in the fourth quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust’s stock worth $484,000 after purchasing an additional 2,078 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Piedmont Office Realty Trust by 12.3% in the third quarter. Creative Planning now owns 60,002 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 6,577 shares during the period. 84.48% of the stock is owned by institutional investors.

About Piedmont Office Realty Trust

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.