Piedmont Office Realty Trust (NYSE:PDM) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Piedmont Office Realty Trust (NYSE:PDM) from a hold rating to a sell rating in a research report released on Monday morning.

A number of other analysts have also issued reports on the stock. Robert W. Baird lowered shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Thursday, January 16th. Baird R W lowered shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th.

Piedmont Office Realty Trust Trading Down 1.0 %

PDM opened at $8.76 on Monday. The firm has a market capitalization of $1.09 billion, a P/E ratio of -14.12 and a beta of 1.19. The firm’s 50 day moving average is $9.09 and its 200-day moving average is $9.32. Piedmont Office Realty Trust has a 52-week low of $5.93 and a 52-week high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). The firm had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same quarter in the prior year, the business earned $0.43 EPS. Analysts expect that Piedmont Office Realty Trust will post 1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Piedmont Office Realty Trust

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Piedmont Office Realty Trust by 24.6% during the fourth quarter. Blue Trust Inc. now owns 18,923 shares of the real estate investment trust’s stock valued at $191,000 after acquiring an additional 3,739 shares during the period. Inspire Investing LLC boosted its holdings in shares of Piedmont Office Realty Trust by 8.3% during the fourth quarter. Inspire Investing LLC now owns 44,280 shares of the real estate investment trust’s stock valued at $405,000 after acquiring an additional 3,385 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Piedmont Office Realty Trust by 0.8% during the fourth quarter. SG Americas Securities LLC now owns 404,161 shares of the real estate investment trust’s stock valued at $3,698,000 after acquiring an additional 3,184 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at $105,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Piedmont Office Realty Trust by 4.2% during the fourth quarter. Nordea Investment Management AB now owns 736,832 shares of the real estate investment trust’s stock valued at $6,683,000 after acquiring an additional 29,960 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Company Profile

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.