Piedmont Office Realty Trust Inc. (NYSE:PDM) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $20.20.
A number of equities analysts have weighed in on PDM shares. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, July 12th. DA Davidson boosted their target price on shares of Piedmont Office Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th.
Piedmont Office Realty Trust (NYSE:PDM) opened at 21.77 on Wednesday. Piedmont Office Realty Trust has a 1-year low of $16.93 and a 1-year high of $22.28. The company’s 50 day moving average is $21.42 and its 200-day moving average is $20.81. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 14.88 and a beta of 0.69.
Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. Piedmont Office Realty Trust had a net margin of 38.14% and a return on equity of 9.87%. The company earned $135.30 million during the quarter, compared to the consensus estimate of $138.87 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was down 7.8% on a year-over-year basis. On average, analysts predict that Piedmont Office Realty Trust will post $1.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Wednesday, August 24th. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 57.93%.
Large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. acquired a new stake in Piedmont Office Realty Trust during the first quarter worth $148,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Piedmont Office Realty Trust by 2.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,038 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 148 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of Piedmont Office Realty Trust by 0.8% in the first quarter. BlackRock Japan Co. Ltd now owns 7,692 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 58 shares in the last quarter. Wolverine Trading LLC purchased a new position in shares of Piedmont Office Realty Trust during the second quarter worth about $198,000. Finally, BB&T Securities LLC purchased a new position in shares of Piedmont Office Realty Trust during the second quarter worth about $201,000. 83.34% of the stock is owned by institutional investors and hedge funds.
Piedmont Office Realty Trust Company Profile
Piedmont Office Realty Trust, Inc (Piedmont) is an integrated self-managed real estate investment trust specializing in the acquisition, ownership, management, development and disposition of primarily Class A office buildings located in the United States office markets. The Company operates through its real estate assets segment.
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