Robert W. Baird Issues Positive Forecast for Piedmont Office Realty Trust (NYSE:PDM) Stock Price

Piedmont Office Realty Trust (NYSE:PDM) had its price objective hoisted by Robert W. Baird from $10.00 to $11.00 in a research report released on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $11.00 price target (up from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd.

Piedmont Office Realty Trust Stock Down 0.6 %

NYSE:PDM traded down $0.06 during trading hours on Friday, reaching $9.88. 965,837 shares of the stock were exchanged, compared to its average volume of 857,877. The stock has a market cap of $1.23 billion, a PE ratio of -15.94 and a beta of 1.22. Piedmont Office Realty Trust has a twelve month low of $5.37 and a twelve month high of $11.11. The firm has a 50 day moving average of $10.00 and a 200 day moving average of $8.42. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.46). The business had revenue of $139.29 million for the quarter, compared to analyst estimates of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same quarter in the previous year, the company posted $0.43 EPS. On average, equities analysts expect that Piedmont Office Realty Trust will post 1.5 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 22nd will be given a dividend of $0.125 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.50 annualized dividend and a yield of 5.06%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -80.64%.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Piedmont Office Realty Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock valued at $135,115,000 after acquiring an additional 394,282 shares in the last quarter. Private Management Group Inc. grew its position in shares of Piedmont Office Realty Trust by 0.3% during the 1st quarter. Private Management Group Inc. now owns 4,631,310 shares of the real estate investment trust’s stock worth $32,558,000 after purchasing an additional 14,784 shares in the last quarter. Wilsey Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 50.2% during the second quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock worth $28,274,000 after purchasing an additional 1,302,681 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Piedmont Office Realty Trust by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust’s stock valued at $12,467,000 after buying an additional 14,831 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Piedmont Office Realty Trust by 7,041.3% in the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock valued at $6,627,000 after buying an additional 901,292 shares during the period. Institutional investors 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.