Piedmont Office Realty Trust Inc. (NYSE:PDM)’s share price hit a new 52-week high during trading on Monday . The stock 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.

Several equities analysts have recently commented on PDM shares. TheStreet upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, March 18th. Zacks Investment Research cut shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. DA Davidson restated a “hold” rating and issued a $22.00 target price (up from $20.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, May 3rd. Finally, Stifel Nicolaus lifted their price target on shares of Piedmont Office Realty Trust from $16.50 to $18.00 and gave the company a “sell” rating in a report on Tuesday, May 10th. 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. Piedmont Office Realty Trust has an average rating of “Hold” and a consensus price target of $20.71.

The firm has a market cap of $3.13 billion and a PE ratio of 19.49. The firm has a 50 day moving average price of $20.73 and a 200-day moving average price of $19.57.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $138 million for the quarter, compared to the consensus estimate of $139.25 million. Piedmont Office Realty Trust’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. On average, equities research analysts predict that Piedmont Office Realty Trust Inc. will post $1.63 earnings per share for the current fiscal year.

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

A number of institutional investors have modified their holdings of PDM. Vanguard Group Inc. raised its position in shares of Piedmont Office Realty Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,331,860 shares of the real estate investment trust’s stock worth $402,745,000 after buying an additional 167,166 shares in the last quarter. Rhumbline Advisers raised its position in shares of Piedmont Office Realty Trust by 0.9% in the fourth quarter. Rhumbline Advisers now owns 133,307 shares of the real estate investment trust’s stock worth $2,517,000 after buying an additional 1,250 shares in the last quarter. Russell Frank Co raised its position in shares of Piedmont Office Realty Trust by 21.0% in the fourth quarter. Russell Frank Co now owns 324,662 shares of the real estate investment trust’s stock worth $6,204,000 after buying an additional 56,436 shares in the last quarter. Bank of Montreal Can raised its position 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 worth $1,360,000 after buying an additional 54,931 shares in the last quarter. Finally, Green Street Investors LLC raised its position 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 worth $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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