ValuEngine Lowers Piedmont Office Realty Trust (NYSE:PDM) to Strong Sell

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

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

Shares of NYSE PDM opened at $15.07 on Tuesday. Piedmont Office Realty Trust has a 1 year low of $12.85 and a 1 year high of $24.78. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 5.11 and a beta of 0.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03. The stock’s 50-day simple moving average is $15.77 and its 200-day simple moving average is $16.70.

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

A number of institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB bought a new stake in Piedmont Office Realty Trust in the second quarter valued at about $397,000. Nuveen Asset Management LLC boosted its stake in Piedmont Office Realty Trust by 68.4% in the second quarter. Nuveen Asset Management LLC now owns 2,912,743 shares of the real estate investment trust’s stock valued at $48,381,000 after acquiring an additional 1,183,312 shares during the period. AQR Capital Management LLC boosted its stake in Piedmont Office Realty Trust by 63.2% in the second quarter. AQR Capital Management LLC now owns 152,509 shares of the real estate investment trust’s stock valued at $2,533,000 after acquiring an additional 59,062 shares during the period. California State Teachers Retirement System boosted its stake in Piedmont Office Realty Trust by 0.5% in the second quarter. California State Teachers Retirement System now owns 190,788 shares of the real estate investment trust’s stock valued at $3,169,000 after acquiring an additional 939 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Piedmont Office Realty Trust by 2.0% in the second quarter. Jacobs Levy Equity Management Inc. now owns 560,862 shares of the real estate investment trust’s stock valued at $9,316,000 after acquiring an additional 10,943 shares during the period. 82.52% of the stock is owned by hedge funds and other 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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