Piedmont Office Realty Trust (NYSE:PDM) Stock Rating Lowered by ValuEngine

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, ValuEngine reports.

Other equities analysts also recently issued reports about the company. SunTrust Banks dropped their price objective on Piedmont Office Realty Trust from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Zacks Investment Research downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Piedmont Office Realty Trust presently has an average rating of “Hold” and a consensus target price of $19.25.

Shares of PDM stock opened at $15.07 on Tuesday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 5.11 and a beta of 0.65. The stock has a 50 day simple moving average of $15.77 and a 200-day simple moving average of $16.70. Piedmont Office Realty Trust has a 12-month low of $12.85 and a 12-month high of $24.78. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.83.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $1.02. The business had revenue of $134.63 million during the quarter, compared to the consensus estimate of $141.77 million. Piedmont Office Realty Trust had a return on equity of 20.58% and a net margin of 68.72%. On average, equities analysts forecast that Piedmont Office Realty Trust will post 1.9 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB purchased a new position in Piedmont Office Realty Trust during the second quarter worth $397,000. Nuveen Asset Management LLC increased its position in Piedmont Office Realty Trust by 68.4% during the second quarter. Nuveen Asset Management LLC now owns 2,912,743 shares of the real estate investment trust’s stock worth $48,381,000 after buying an additional 1,183,312 shares in the last quarter. AQR Capital Management LLC increased its position in Piedmont Office Realty Trust by 63.2% during the second quarter. AQR Capital Management LLC now owns 152,509 shares of the real estate investment trust’s stock worth $2,533,000 after buying an additional 59,062 shares in the last quarter. California State Teachers Retirement System increased its position in Piedmont Office Realty Trust by 0.5% during the second quarter. California State Teachers Retirement System now owns 190,788 shares of the real estate investment trust’s stock worth $3,169,000 after buying an additional 939 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Piedmont Office Realty Trust by 2.0% during the second quarter. Jacobs Levy Equity Management Inc. now owns 560,862 shares of the real estate investment trust’s stock worth $9,316,000 after buying an additional 10,943 shares in the last quarter. 82.52% of the stock is owned by institutional investors.

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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