StockNews.com upgraded shares of Piedmont Office Realty Trust (NYSE:PDM – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday.
Piedmont Office Realty Trust Price Performance
NYSE:PDM opened at $7.25 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $898.21 million, a price-to-earnings ratio of -11.89 and a beta of 1.19. Piedmont Office Realty Trust has a 52 week low of $4.91 and a 52 week high of $8.05. The firm’s 50-day simple moving average is $7.07 and its 200 day simple moving average is $6.87.
Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) EPS for the quarter, missing the consensus estimate 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 business had revenue of $144.54 million for the quarter, compared to the consensus estimate of $143.41 million. As a group, sell-side analysts predict that Piedmont Office Realty Trust will post 1.5 earnings per share for the current year.
Piedmont Office Realty Trust Announces Dividend
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Sigma Planning Corp bought a new stake in Piedmont Office Realty Trust during the fourth quarter worth about $71,000. Adero Partners LLC bought a new position in Piedmont Office Realty Trust in the 4th quarter valued at about $72,000. First Trust Direct Indexing L.P. acquired a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at approximately $73,000. Bayesian Capital Management LP bought a new stake in shares of Piedmont Office Realty Trust during the 1st quarter worth approximately $81,000. Finally, Scharf Investments LLC acquired a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth approximately $94,000. Institutional investors 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.
Recommended Stories
- Five stocks we like better than Piedmont Office Realty Trust
- How to Invest in the FAANG Stocks
- What’s Behind Walgreens Stock Plunge: What Investors Can Do Next
- What Is WallStreetBets and What Stocks Are They Targeting?
- MarketBeat Week in Review – 6/24 – 6/28
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- General Mills Stock Drops After Revenue Miss in Fiscal Q4 2024
Receive News & Ratings for Piedmont Office Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.