Piedmont Office Realty Trust (NYSE:PDM) Price Target Lowered to $9.00 at Robert W. Baird

Piedmont Office Realty Trust (NYSE:PDM) had its price objective dropped by investment analysts at Robert W. Baird from $10.00 to $9.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s target price would indicate a potential upside of 27.39% from the stock’s current price.

Several other research firms have also recently commented on PDM. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Baird R W lowered shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th.

Piedmont Office Realty Trust Trading Down 2.8 %

Shares of Piedmont Office Realty Trust stock opened at $7.07 on Monday. Piedmont Office Realty Trust has a 1 year low of $5.93 and a 1 year high of $11.11. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The business has a 50 day moving average price of $8.54 and a 200 day moving average price of $9.31. The company has a market capitalization of $878.12 million, a P/E ratio of -11.21 and a beta of 1.19.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $143.23 million during the quarter, compared to analysts’ expectations of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. Sell-side analysts anticipate that Piedmont Office Realty Trust will post 1.41 EPS for the current fiscal year.

Institutional Trading of Piedmont Office Realty Trust

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its holdings in Piedmont Office Realty Trust by 88.7% during the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock worth $2,398,000 after acquiring an additional 111,596 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Piedmont Office Realty Trust by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock worth $15,501,000 after purchasing an additional 478,560 shares during the last quarter. Franklin Resources Inc. grew its stake in Piedmont Office Realty Trust by 72.5% in the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust’s stock worth $1,519,000 after purchasing an additional 62,233 shares in the last quarter. Choreo LLC increased its holdings in Piedmont Office Realty Trust by 4.0% in the fourth quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust’s stock valued at $484,000 after buying an additional 2,078 shares during the last quarter. Finally, Creative Planning raised its stake in Piedmont Office Realty Trust by 12.3% during the third quarter. Creative Planning now owns 60,002 shares of the real estate investment trust’s stock valued at $606,000 after buying an additional 6,577 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Company Profile

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.