Piedmont Office Realty Trust (PDM) Hits New 52-Week Low at $19.10
Piedmont Office Realty Trust, Inc. (NYSE:PDM) reached a new 52-week low during trading on Thursday . The stock traded as low as $19.10 and last traded at $19.51, with a volume of 820800 shares. The stock had previously closed at $19.57.
Several equities research analysts recently commented on PDM shares. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, October 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $21.00 price target on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.33.
The stock has a market cap of $2,825.36, a price-to-earnings ratio of 14.22, a PEG ratio of 2.93 and a beta of 0.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.15 and a quick ratio of 2.15.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $137.59 million for the quarter, compared to analyst estimates of $140.39 million. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. During the same quarter in the prior year, the company earned $0.41 earnings per share. equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.75 earnings per share for the current year.
The company also recently declared a None dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 26th will be issued a $0.50 dividend. The ex-dividend date is Friday, December 22nd. This represents a yield of 4.16%. This is a positive change from Piedmont Office Realty Trust’s previous None dividend of $0.21. Piedmont Office Realty Trust’s dividend payout ratio is presently 62.69%.
Large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in shares of Piedmont Office Realty Trust in the third quarter valued at approximately $135,000. Wealthcare Advisory Partners LLC bought a new position in shares of Piedmont Office Realty Trust in the third quarter valued at approximately $144,000. SG Americas Securities LLC lifted its holdings in shares of Piedmont Office Realty Trust by 4.7% in the second quarter. SG Americas Securities LLC now owns 8,060 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 364 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 19.4% in the second quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of Piedmont Office Realty Trust in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 83.35% of the company’s stock.
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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.
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