Truist Financial restated their buy rating on shares of Piedmont Office Realty Trust (NYSE:PDM - Free Report) in a report published on Tuesday,Benzinga reports. The firm currently has a $10.00 price objective on the real estate investment trust's stock, down from their previous price objective of $11.00.
Several other research analysts also recently commented on PDM. Robert W. Baird dropped their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Monday. Baird R W downgraded shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, StockNews.com raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th.
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Piedmont Office Realty Trust Price Performance
PDM stock traded up $0.18 during trading on Tuesday, reaching $7.60. The company's stock had a trading volume of 1,185,534 shares, compared to its average volume of 788,101. Piedmont Office Realty Trust has a 1 year low of $5.95 and a 1 year high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $944.00 million, a P/E ratio of -12.06 and a beta of 1.19. The company's fifty day moving average is $8.37 and its 200-day moving average is $9.25.
Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.37. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The business had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million. On average, research analysts expect that Piedmont Office Realty Trust will post 1.41 earnings per share for the current fiscal year.
Piedmont Office Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date of this dividend is Friday, February 21st. Piedmont Office Realty Trust's payout ratio is -79.37%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Hudson Edge Investment Partners Inc. lifted its stake in Piedmont Office Realty Trust by 4.8% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 1,180 shares during the last quarter. Harbour Investments Inc. lifted its stake in Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 1,216 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Piedmont Office Realty Trust by 34.8% in the third 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. abrdn plc lifted its stake in 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 worth $246,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Piedmont Office Realty Trust by 6.5% in the fourth quarter. Quantinno Capital Management LP now owns 22,803 shares of the real estate investment trust's stock worth $209,000 after purchasing an additional 1,390 shares during the last quarter. Institutional investors own 84.48% of the company's stock.
Piedmont Office Realty Trust Company Profile
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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.
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