Piedmont Office Realty Trust (PDM) – Investment Analysts’ Recent Ratings Updates

Piedmont Office Realty Trust (NYSE: PDM) has recently received a number of price target changes and ratings updates:

• 5/18/2022 – Piedmont Office Realty Trust was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 5/11/2022 – Piedmont Office Realty Trust was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Piedmont Office Realty Trust, Inc. is an integrated and self-managed real estate investment trust specializing in the acquisition, ownership, management and development of commercial real estate properties. That includes properties that are under construction, newly constructed, or have operating histories. The Company is primarily focused on high-quality Class A office buildings located in major U.S. markets and leased primarily to high-credit quality tenants. Major markets include: Washington, D.C., greater Los Angeles, the New York metropolitan area, Boston and Chicago. Piedmont conducts business primarily through Piedmont Operating Partnership, LP; a Delaware limited partnership, as well as performing the management of its buildings through two wholly-owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. Piedmont OP owns a majority of its properties directly and a limited number through joint ventures with real estate limited partnerships with other third parties. “
• 5/10/2022 – Piedmont Office Realty Trust was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 5/2/2022 – Piedmont Office Realty Trust was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/12/2022 – Piedmont Office Realty Trust was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Piedmont Office Realty Trust, Inc. is an integrated and self-managed real estate investment trust specializing in the acquisition, ownership, management and development of commercial real estate properties. That includes properties that are under construction, newly constructed, or have operating histories. The Company is primarily focused on high-quality Class A office buildings located in major U.S. markets and leased primarily to high-credit quality tenants. Major markets include: Washington, D.C., greater Los Angeles, the New York metropolitan area, Boston and Chicago. Piedmont conducts business primarily through Piedmont Operating Partnership, LP; a Delaware limited partnership, as well as performing the management of its buildings through two wholly-owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. Piedmont OP owns a majority of its properties directly and a limited number through joint ventures with real estate limited partnerships with other third parties. “
• 4/5/2022 – Piedmont Office Realty Trust was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Piedmont Office Realty Trust, Inc. is an integrated and self-managed real estate investment trust specializing in the acquisition, ownership, management and development of commercial real estate properties. That includes properties that are under construction, newly constructed, or have operating histories. The Company is primarily focused on high-quality Class A office buildings located in major U.S. markets and leased primarily to high-credit quality tenants. Major markets include: Washington, D.C., greater Los Angeles, the New York metropolitan area, Boston and Chicago. Piedmont conducts business primarily through Piedmont Operating Partnership, LP; a Delaware limited partnership, as well as performing the management of its buildings through two wholly-owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. Piedmont OP owns a majority of its properties directly and a limited number through joint ventures with real estate limited partnerships with other third parties. “
• 3/31/2022 – Piedmont Office Realty Trust is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/30/2022 – Piedmont Office Realty Trust was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Piedmont Office Realty Trust, Inc. is an integrated and self-managed real estate investment trust specializing in the acquisition, ownership, management and development of commercial real estate properties. That includes properties that are under construction, newly constructed, or have operating histories. The Company is primarily focused on high-quality Class A office buildings located in major U.S. markets and leased primarily to high-credit quality tenants. Major markets include: Washington, D.C., greater Los Angeles, the New York metropolitan area, Boston and Chicago. Piedmont conducts business primarily through Piedmont Operating Partnership, LP; a Delaware limited partnership, as well as performing the management of its buildings through two wholly-owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. Piedmont OP owns a majority of its properties directly and a limited number through joint ventures with real estate limited partnerships with other third parties. “
• 3/24/2022 – Piedmont Office Realty Trust was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Piedmont Office Realty Trust, Inc. is an integrated and self-managed real estate investment trust specializing in the acquisition, ownership, management and development of commercial real estate properties. That includes properties that are under construction, newly constructed, or have operating histories. The Company is primarily focused on high-quality Class A office buildings located in major U.S. markets and leased primarily to high-credit quality tenants. Major markets include: Washington, D.C., greater Los Angeles, the New York metropolitan area, Boston and Chicago. Piedmont conducts business primarily through Piedmont Operating Partnership, LP; a Delaware limited partnership, as well as performing the management of its buildings through two wholly-owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. Piedmont OP owns a majority of its properties directly and a limited number through joint ventures with real estate limited partnerships with other third parties. “

Shares of NYSE PDM opened at $14.44 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 36.10 and a beta of 0.94. The stock has a 50 day moving average price of $16.26 and a 200 day moving average price of $17.40. Piedmont Office Realty Trust, Inc. has a 52-week low of $14.18 and a 52-week high of $20.35.

Piedmont Office Realty Trust (NYSE:PDM – Get Rating) last posted its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The company had revenue of $136.15 million for the quarter, compared to analysts’ expectations of $135.88 million. Piedmont Office Realty Trust had a return on equity of 2.69% and a net margin of 9.24%. Analysts forecast that Piedmont Office Realty Trust, Inc. will post 2.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, May 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Thursday, May 26th. Piedmont Office Realty Trust’s payout ratio is presently 210.00%.

In other news, CAO Laura P. Moon sold 7,627 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $16.09, for a total transaction of $122,718.43. Following the sale, the chief accounting officer now directly owns 47,001 shares of the company’s stock, valued at approximately $756,246.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Glenn Gary Cohen bought 5,000 shares of the stock in a transaction dated Thursday, February 24th. The shares were purchased at an average cost of $15.82 per share, for a total transaction of $79,100.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 11,500 shares of company stock worth $183,525. Insiders own 1.13% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. raised its holdings in Piedmont Office Realty Trust by 5.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,252,688 shares of the real estate investment trust’s stock valued at $41,404,000 after acquiring an additional 120,481 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in shares of Piedmont Office Realty Trust by 13.8% during the 4th quarter. Fox Run Management L.L.C. now owns 23,929 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 2,908 shares during the last quarter. Novare Capital Management LLC acquired a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth approximately $251,000. Russell Investments Group Ltd. increased its holdings in shares of Piedmont Office Realty Trust by 57.6% during the 4th quarter. Russell Investments Group Ltd. now owns 169,831 shares of the real estate investment trust’s stock worth $3,119,000 after buying an additional 62,098 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Piedmont Office Realty Trust by 4.0% during the 3rd quarter. US Bancorp DE now owns 30,881 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 1,189 shares during the last quarter. 82.61% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

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