Piedmont Office Realty Trust (NYSE:PDM) Given New $9.00 Price Target at Robert W. Baird

Piedmont Office Realty Trust (NYSE:PDM) had its price objective lowered by Robert W. Baird from $10.00 to $9.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s price target indicates a potential upside of 27.39% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Baird R W downgraded shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th.

Piedmont Office Realty Trust Trading Down 2.8 %

NYSE PDM opened at $7.07 on Monday. The firm has a market capitalization of $878.12 million, a PE ratio of -11.21 and a beta of 1.19. Piedmont Office Realty Trust has a one year low of $5.93 and a one year high of $11.11. The company has a 50-day simple moving average of $8.54 and a 200-day simple moving average of $9.31. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. On average, equities analysts forecast that Piedmont Office Realty Trust will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp lifted its holdings in Piedmont Office Realty Trust by 178.3% in the fourth quarter. Mackenzie Financial Corp now owns 65,924 shares of the real estate investment trust’s stock worth $603,000 after purchasing an additional 42,239 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Piedmont Office Realty Trust by 16.8% in the 4th quarter. Two Sigma Advisers LP now owns 949,300 shares of the real estate investment trust’s stock worth $8,686,000 after acquiring an additional 136,300 shares during the period. Two Sigma Investments LP increased its stake in shares of Piedmont Office Realty Trust by 11.9% during the fourth quarter. Two Sigma Investments LP now owns 757,469 shares of the real estate investment trust’s stock valued at $6,931,000 after acquiring an additional 80,648 shares during the period. Systematic Financial Management LP raised its holdings in Piedmont Office Realty Trust by 3.2% during the fourth quarter. Systematic Financial Management LP now owns 1,199,266 shares of the real estate investment trust’s stock worth $10,973,000 after purchasing an additional 36,647 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Piedmont Office Realty Trust during the fourth quarter worth approximately $76,000. 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.