Robert W. Baird Cuts Piedmont Office Realty Trust (NYSE:PDM) Price Target to $9.00

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) had its price objective cut by investment analysts at Robert W. Baird from $10.00 to $9.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. Robert W. Baird's target price would suggest a potential upside of 21.54% from the company's previous close.

PDM has been the topic of a number of other reports. Baird R W lowered shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. StockNews.com raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th.

Piedmont Office Realty Trust Stock Up 2.7 %

Shares of Piedmont Office Realty Trust stock traded up $0.20 on Monday, hitting $7.41. The company had a trading volume of 570,323 shares, compared to its average volume of 777,643. Piedmont Office Realty Trust has a 1 year low of $5.95 and a 1 year high of $11.11. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. The stock has a 50 day moving average of $8.39 and a 200-day moving average of $9.26. The stock has a market capitalization of $920.38 million, a price-to-earnings ratio of -11.75 and a beta of 1.19.

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Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. The business had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. As a group, sell-side analysts forecast that Piedmont Office Realty Trust will post 1.41 earnings per share for the current year.

Institutional Trading of Piedmont Office Realty Trust

A number of large investors have recently added to or reduced their stakes in PDM. Sterling Capital Management LLC grew its position in shares of Piedmont Office Realty Trust by 809.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 3,520 shares during the period. 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 valued at $48,000 after purchasing an additional 1,241 shares during the last quarter. 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 purchasing an additional 1,666 shares during the last quarter. Harbour Investments Inc. grew its holdings in Piedmont Office Realty Trust by 25.4% during the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 1,216 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Piedmont Office Realty Trust in the fourth quarter worth $59,000. 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.