Piedmont Office Realty Trust (NYSE:PDM) Upgraded at StockNews.com

Piedmont Office Realty Trust (NYSE:PDM) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Piedmont Office Realty Trust Stock Up 3.1 %

Shares of Piedmont Office Realty Trust stock opened at $7.25 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.23. The firm has a market cap of $898.20 million, a P/E ratio of -11.89 and a beta of 1.19. Piedmont Office Realty Trust has a fifty-two week low of $4.91 and a fifty-two week high of $8.05. The business has a 50-day moving average price of $7.07 and a 200 day moving average price of $6.87.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.61). Piedmont Office Realty Trust had a negative net margin of 12.90% and a negative return on equity of 4.29%. The company had revenue of $144.54 million during the quarter, compared to analyst estimates of $143.41 million. On average, sell-side analysts forecast that Piedmont Office Realty Trust will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piedmont Office Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of PDM. Sigma Planning Corp acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter worth approximately $71,000. Adero Partners LLC acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter worth approximately $72,000. First Trust Direct Indexing L.P. acquired a new position in shares of Piedmont Office Realty Trust during the first quarter worth approximately $73,000. Bayesian Capital Management LP bought a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $81,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in Piedmont Office Realty Trust during the third quarter worth approximately $89,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

About Piedmont Office Realty Trust

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.