Piedmont Office Realty Trust (NYSE:PDM) Stock Rating Lowered by Robert W. Baird

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) was downgraded by research analysts at Robert W. Baird from an "outperform" rating to a "neutral" rating in a research report issued on Thursday, MarketBeat.com reports. They presently have a $11.00 target price on the real estate investment trust's stock. Robert W. Baird's price objective would suggest a potential upside of 25.64% from the company's previous close.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM traded down $0.09 during trading on Thursday, hitting $8.76. 578,503 shares of the stock traded hands, compared to its average volume of 584,200. 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 market cap of $1.09 billion, a price-to-earnings ratio of -14.12 and a beta of 1.19. The company has a fifty day moving average price of $9.22 and a two-hundred day moving average price of $9.26. Piedmont Office Realty Trust has a 52-week low of $5.93 and a 52-week high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS 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 analysts' expectations of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same period in the previous year, the firm posted $0.43 EPS. As a group, equities analysts predict that Piedmont Office Realty Trust will post 1.49 EPS for the current year.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $48,000 after purchasing an additional 1,241 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Piedmont Office Realty Trust by 51.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,666 shares during the last quarter. Optas LLC acquired a new stake in Piedmont Office Realty Trust during the 3rd quarter worth $101,000. Arkadios Wealth Advisors acquired a new stake in Piedmont Office Realty Trust during the 4th quarter worth $105,000. Finally, Sei Investments Co. acquired a new stake in Piedmont Office Realty Trust during the 2nd quarter worth $85,000. Hedge funds and other institutional investors own 84.48% of the company's stock.

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.