Piedmont Office Realty Trust, Inc. (PDM) Given Consensus Rating of “Hold” by Brokerages
Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) have earned a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.67.
A number of equities research analysts have recently weighed in on PDM shares. ValuEngine cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. DA Davidson upgraded Piedmont Office Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a report on Friday, June 29th.
PDM stock opened at $19.59 on Wednesday. Piedmont Office Realty Trust has a 52-week low of $16.69 and a 52-week high of $20.57. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 2.92 and a beta of 0.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, August 31st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 4.29%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 48.00%.
A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Piedmont Office Realty Trust by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,276,433 shares of the real estate investment trust’s stock worth $25,438,000 after buying an additional 74,904 shares during the last quarter. Titus Wealth Management purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter worth about $215,000. Verition Fund Management LLC purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter worth about $671,000. Forsta AP Fonden purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter worth about $474,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter worth about $1,172,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.
Piedmont Office Realty Trust Company Profile
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.
Read More: Dividend
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.