Piedmont Office Realty Trust (NYSE:PDM) Stock Rating Lowered by Robert W. Baird

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $11.00 price target on the real estate investment trust’s stock. Robert W. Baird’s target price indicates a potential upside of 24.93% from the stock’s previous close.

Piedmont Office Realty Trust Stock Up 0.3 %

PDM stock opened at $8.81 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a market cap of $1.09 billion, a PE ratio of -14.20 and a beta of 1.19. Piedmont Office Realty Trust has a 12 month low of $5.93 and a 12 month high of $11.11. The firm has a 50 day simple moving average of $9.16 and a 200 day simple moving average of $9.27.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). The company had revenue of $139.29 million for the quarter, compared to analyst estimates of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same quarter last year, the company posted $0.43 EPS. Equities research analysts forecast that Piedmont Office Realty Trust will post 1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Piedmont Office Realty Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,241 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Piedmont Office Realty Trust by 51.3% in the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,666 shares during the period. Sei Investments Co. purchased a new position in shares of Piedmont Office Realty Trust during the second quarter valued at $85,000. Mackenzie Financial Corp acquired a new position in Piedmont Office Realty Trust during the second quarter valued at $98,000. Finally, Optas LLC purchased a new stake in Piedmont Office Realty Trust in the 3rd quarter worth about $101,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

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.