Piedmont Office Realty Trust (NYSE:PDM) Cut to “Sell” at StockNews.com

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

Several other equities research analysts have also recently issued reports on the stock. Robert W. Baird cut shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Thursday, January 16th. Baird R W cut 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 Stock Performance

NYSE:PDM opened at $8.76 on Monday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average price of $9.09 and a two-hundred day moving average price of $9.32. Piedmont Office Realty Trust has a twelve month low of $5.93 and a twelve month high of $11.11. The company has a market capitalization of $1.09 billion, a P/E ratio of -14.12 and a beta of 1.19.

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

Institutional Investors Weigh In On Piedmont Office Realty Trust

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Piedmont Office Realty Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,241 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Piedmont Office Realty Trust by 51.3% in the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,666 shares during the last quarter. Optas LLC acquired a new stake in shares of Piedmont Office Realty Trust in the third quarter worth approximately $101,000. Arkadios Wealth Advisors acquired a new stake in shares of Piedmont Office Realty Trust in the fourth quarter worth approximately $105,000. Finally, Sei Investments Co. acquired a new stake in shares of Piedmont Office Realty Trust in the second quarter worth approximately $85,000. 84.48% of the stock is owned by institutional investors and hedge funds.

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.