Robert W. Baird Issues Positive Forecast for Piedmont Office Realty Trust (NYSE:PDM) Stock Price

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) had its price objective lifted by research analysts at Robert W. Baird from $10.00 to $11.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Robert W. Baird's price target indicates a potential upside of 11.28% from the stock's current price.

PDM has been the topic of several other research reports. Truist Financial reissued a "buy" rating and issued a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a report on Wednesday, August 14th. StockNews.com raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research note on Tuesday, July 23rd.

Piedmont Office Realty Trust Stock Down 0.6 %

Shares of PDM traded down $0.05 during trading on Friday, reaching $9.89. The company's stock had a trading volume of 965,837 shares, compared to its average volume of 857,877. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. The company has a fifty day moving average of $10.00 and a two-hundred day moving average of $8.42. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -15.94 and a beta of 1.22. Piedmont Office Realty Trust has a twelve month low of $5.37 and a twelve month high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced 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 firm 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 period in the prior year, the firm earned $0.43 earnings per share. On average, sell-side analysts predict that Piedmont Office Realty Trust will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Piedmont Office Realty Trust by 34.8% during 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 purchasing an additional 1,241 shares during the period. Blue Trust Inc. increased its position in Piedmont Office Realty Trust by 38.3% during the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,288 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Piedmont Office Realty Trust by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust's stock valued at $334,000 after acquiring an additional 1,311 shares during the last quarter. abrdn plc raised its position in shares of Piedmont Office Realty Trust by 5.9% in the third quarter. abrdn plc now owns 24,341 shares of the real estate investment trust's stock valued at $246,000 after purchasing an additional 1,366 shares during the period. Finally, CWM LLC lifted its stake in shares of Piedmont Office Realty Trust by 15.1% in the third quarter. CWM LLC now owns 12,772 shares of the real estate investment trust's stock worth $129,000 after buying an additional 1,678 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

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.