Piedmont Office Realty Trust Inc. (NYSE:PDM) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.72 and last traded at $21.71, with a volume of 175,992 shares changing hands. The stock had previously closed at $21.57.

A number of equities research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Piedmont Office Realty Trust from $16.50 to $18.00 and gave the company a “sell” rating in a research report on Tuesday, May 10th. Zacks Investment Research downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. DA Davidson reaffirmed a “hold” rating and issued a $22.00 target price (up previously from $20.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, May 3rd. Finally, TheStreet raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, March 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.17.

The firm has a market capitalization of $3.15 billion and a PE ratio of 19.61. The company’s 50-day moving average price is $20.63 and its 200 day moving average price is $19.53.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The business earned $138 million during the quarter, compared to analysts’ expectations of $139.25 million. Piedmont Office Realty Trust’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 EPS. On average, analysts forecast that Piedmont Office Realty Trust Inc. will post $1.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, May 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 25th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.87%.

Several hedge funds have added to or reduced their stakes in the stock. Matarin Capital Management LLC acquired a new stake in Piedmont Office Realty Trust during the fourth quarter worth about $4,365,000. Bank of Montreal Can raised its stake in shares of Piedmont Office Realty Trust by 320.8% in the fourth quarter. Bank of Montreal Can now owns 72,053 shares of the real estate investment trust’s stock valued at $1,360,000 after buying an additional 54,931 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Piedmont Office Realty Trust by 4,557.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 130,838 shares of the real estate investment trust’s stock valued at $2,470,000 after buying an additional 128,029 shares in the last quarter. Morgan Stanley raised its stake in shares of Piedmont Office Realty Trust by 0.4% in the fourth quarter. Morgan Stanley now owns 3,979,635 shares of the real estate investment trust’s stock valued at $75,135,000 after buying an additional 17,759 shares in the last quarter. Finally, Green Street Investors LLC raised its stake in shares of Piedmont Office Realty Trust by 13.1% in the fourth quarter. Green Street Investors LLC now owns 81,200 shares of the real estate investment trust’s stock valued at $1,533,000 after buying an additional 9,400 shares in the last quarter.

Piedmont Office Realty Trust, Inc (Piedmont) is an integrated self-managed real estate investment trust specializing in the acquisition, ownership, management, development and disposition of primarily Class A office buildings located in the United States office markets. The Company operates through its real estate assets segment.

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