Piedmont Office Realty Trust, Inc. (NYSE:PDM) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $21.50.
A number of equities analysts have commented on PDM shares. Zacks Investment Research downgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Stifel Nicolaus upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating and boosted their target price for the stock from $16.00 to $20.00 in a report on Thursday, February 7th.
Institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC bought a new position in Piedmont Office Realty Trust in the first quarter worth about $25,000. Legacy Bridge LLC acquired a new position in shares of Piedmont Office Realty Trust during the first quarter valued at about $28,000. Capital Investment Advisory Services LLC acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at about $43,000. Acadian Asset Management LLC acquired a new position in shares of Piedmont Office Realty Trust during the first quarter valued at about $58,000. Finally, Lavaca Capital LLC acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at about $58,000. Institutional investors and hedge funds own 84.51% of the company’s stock.
Shares of PDM traded up $0.18 during trading hours on Monday, reaching $20.97. 2,303 shares of the company traded hands, compared to its average volume of 807,774. The firm has a market capitalization of $2.59 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.94 and a beta of 0.79. Piedmont Office Realty Trust has a 12-month low of $16.43 and a 12-month high of $21.40. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.91.
Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.05). Piedmont Office Realty Trust had a return on equity of 7.10% and a net margin of 23.19%. The business had revenue of $132.90 million during the quarter, compared to analysts’ expectations of $120.78 million. During the same period last year, the company earned $0.43 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts predict that Piedmont Office Realty Trust will post 1.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be issued a $0.21 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 4.01%. Piedmont Office Realty Trust’s dividend payout ratio is presently 48.55%.
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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