Piedmont Office Realty Trust (NYSE:PDM) Downgraded by Zacks Investment Research

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

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. “

Piedmont Office Realty Trust stock opened at $17.62 on Friday. The firm has a market capitalization of $2.19 billion, a PE ratio of 40.98 and a beta of 0.99. The company’s 50-day moving average is $18.33 and its 200-day moving average is $18.47. Piedmont Office Realty Trust has a fifty-two week low of $15.10 and a fifty-two week high of $20.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 2.36.

(Ad)

The Pentagon says building these new 5G Weapons is their “#1 Priority.”

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $131.10 million for the quarter, compared to analyst estimates of $130.87 million. Piedmont Office Realty Trust had a net margin of 10.19% and a return on equity of 2.83%. Piedmont Office Realty Trust’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. As a group, analysts expect that Piedmont Office Realty Trust will post 1.95 EPS for the current year.

Several hedge funds have recently made changes to their positions in PDM. Bbva USA bought a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter worth about $27,000. Advisory Services Network LLC bought a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter worth about $35,000. FORA Capital LLC bought a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter worth about $38,000. Dark Forest Capital Management LP bought a new stake in shares of Piedmont Office Realty Trust during the 3rd quarter worth about $50,000. Finally, Berman Capital Advisors LLC boosted its holdings in shares of Piedmont Office Realty Trust by 121.7% during the 3rd quarter. Berman Capital Advisors LLC now owns 4,397 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 2,414 shares during the period. 82.12% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc engages in the owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. . Its activities include acquisition, investment, development, management, disposing, and ownership of commercial real estate properties throughout the United States.

Featured Article: What is a Fibonacci Channel?

Get a free copy of the Zacks research report on Piedmont Office Realty Trust (PDM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Piedmont Office Realty Trust right now?

Before you consider Piedmont Office Realty Trust, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Piedmont Office Realty Trust wasn’t on the list.

While Piedmont Office Realty Trust currently has a “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 

Related Articles

Stay Connected

22,912FansLike
3,119FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles