Piedmont Office Realty Trust, Inc. (NYSE:PDM) – Equities research analysts at DA Davidson lowered their FY2018 earnings per share (EPS) estimates for Piedmont Office Realty Trust in a research note issued to investors on Thursday. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will post earnings of $1.68 per share for the year, down from their prior forecast of $1.69. DA Davidson also issued estimates for Piedmont Office Realty Trust’s Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.75 EPS.

A number of other brokerages have also recently weighed in on PDM. Zacks Investment Research cut shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. SunTrust Banks set a $21.00 price objective on shares of Piedmont Office Realty Trust and gave the company a “hold” rating in a research note on Monday, January 22nd. Robert W. Baird set a $22.00 price objective on shares of Piedmont Office Realty Trust and gave the company a “buy” rating in a research note on Thursday. ValuEngine cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus restated a “hold” rating and set a $20.00 price objective on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.50.

Shares of Piedmont Office Realty Trust (NYSE PDM) traded up $0.17 during midday trading on Friday, hitting $17.64. 1,219,079 shares of the company were exchanged, compared to its average volume of 1,333,381. Piedmont Office Realty Trust has a fifty-two week low of $17.47 and a fifty-two week high of $23.08. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2,520.00, a PE ratio of 13.32, a P/E/G ratio of 2.73 and a beta of 0.55.

Large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in Piedmont Office Realty Trust in the 3rd quarter worth about $135,000. Wealthcare Advisory Partners LLC acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter worth approximately $144,000. PNC Financial Services Group Inc. lifted its holdings in Piedmont Office Realty Trust by 19.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 1,404 shares during the last quarter. Dean Capital Investments Management LLC acquired a new stake in Piedmont Office Realty Trust in the 4th quarter worth approximately $202,000. Finally, Allianz Asset Management GmbH acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter worth approximately $205,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

Earnings History and Estimates for Piedmont Office Realty Trust (NYSE:PDM)

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