Piedmont Office Realty Trust (NYSE:PDM) Downgraded to “Hold” Rating by Baird R W

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Separately, Robert W. Baird downgraded 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 report on Thursday.

Piedmont Office Realty Trust Price Performance

Shares of PDM stock opened at $8.76 on Thursday. Piedmont Office Realty Trust has a 12 month low of $5.93 and a 12 month high of $11.11. The company has a market capitalization of $1.09 billion, a P/E ratio of -14.12 and a beta of 1.19. The stock has a 50 day moving average of $9.19 and a two-hundred day moving average of $9.26. 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 released its quarterly earnings data 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 the consensus estimate 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 in the prior year, the company posted $0.43 earnings per share. As a group, equities analysts expect that Piedmont Office Realty Trust will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Several large investors have recently bought and sold shares of the company. Arkadios Wealth Advisors acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at $105,000. Nordea Investment Management AB lifted its holdings in shares of Piedmont Office Realty Trust by 4.2% in the fourth quarter. Nordea Investment Management AB now owns 736,832 shares of the real estate investment trust’s stock valued at $6,683,000 after purchasing an additional 29,960 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Piedmont Office Realty Trust by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock worth $15,501,000 after buying an additional 478,560 shares during the period. Franklin Resources Inc. boosted its position in Piedmont Office Realty Trust by 72.5% during the 3rd quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust’s stock worth $1,519,000 after acquiring an additional 62,233 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Piedmont Office Realty Trust by 51.3% in the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,666 shares during the last quarter. 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.