Piedmont Office Realty Trust, Inc. (PDM) Receives Consensus Rating of “Hold” from Analysts

Piedmont Office Realty Trust, Inc. (NYSE:PDM) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $21.67.

A number of equities analysts recently weighed in on PDM shares. ValuEngine lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. TheStreet lowered shares of Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th.

NYSE:PDM traded down $0.11 during midday trading on Monday, reaching $18.47. The stock had a trading volume of 714,100 shares, compared to its average volume of 1,139,009. Piedmont Office Realty Trust has a 12-month low of $16.69 and a 12-month high of $20.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Piedmont Office Realty Trust had a net margin of 10.13% and a return on equity of 2.95%. The firm had revenue of $129.71 million for the quarter, compared to analyst estimates of $127.24 million. During the same period last year, the firm posted $0.42 EPS. As a group, analysts expect that Piedmont Office Realty Trust will post 1.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, November 30th will be given a $0.21 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.84 dividend on an annualized basis and a yield of 4.55%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 48.00%.

In other news, Director Dale H. Taysom acquired 2,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $35,700.00. Following the transaction, the director now directly owns 16,808 shares in the company, valued at approximately $300,022.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.91% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Teachers Advisors LLC boosted its position in shares of Piedmont Office Realty Trust by 2.3% during the 3rd quarter. Teachers Advisors LLC now owns 261,940 shares of the real estate investment trust’s stock worth $4,959,000 after purchasing an additional 5,840 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Piedmont Office Realty Trust during the 3rd quarter worth $225,000. Macquarie Group Ltd. boosted its position in shares of Piedmont Office Realty Trust by 34.7% during the 3rd quarter. Macquarie Group Ltd. now owns 133,500 shares of the real estate investment trust’s stock worth $2,527,000 after purchasing an additional 34,400 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in shares of Piedmont Office Realty Trust by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 91,277 shares of the real estate investment trust’s stock worth $1,728,000 after purchasing an additional 32,447 shares in the last quarter. Finally, Man Group plc boosted its position in shares of Piedmont Office Realty Trust by 5.5% during the 3rd quarter. Man Group plc now owns 248,500 shares of the real estate investment trust’s stock worth $4,704,000 after purchasing an additional 12,900 shares in the last quarter. Institutional investors own 88.19% of the company’s stock.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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