Piedmont Office Realty Trust (NYSE:PDM) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Piedmont Office Realty Trust (NYSE:PDM) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Piedmont Office Realty Trust Trading Down 0.1 %

Shares of PDM stock opened at $8.37 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.90 and a quick ratio of 1.90. Piedmont Office Realty Trust has a twelve month low of $4.91 and a twelve month high of $8.67. The company’s 50-day moving average price is $7.42 and its 200-day moving average price is $6.97.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.61). Piedmont Office Realty Trust had a negative return on equity of 4.29% and a negative net margin of 12.90%. The firm had revenue of $144.54 million for the quarter, compared to analysts’ expectations of $143.41 million. As a group, equities analysts expect that Piedmont Office Realty Trust will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Piedmont Office Realty Trust by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,288 shares during the last quarter. Sigma Planning Corp purchased a new stake in Piedmont Office Realty Trust in the 4th quarter valued at about $71,000. Adero Partners LLC acquired a new position in Piedmont Office Realty Trust in the fourth quarter valued at about $72,000. First Trust Direct Indexing L.P. purchased a new position in Piedmont Office Realty Trust during the first quarter worth about $73,000. Finally, Bayesian Capital Management LP purchased a new position in Piedmont Office Realty Trust during the first quarter worth about $81,000. Institutional investors and hedge funds 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.