Piedmont Office Realty Trust Inc. (NYSE:PDM) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.76 and last traded at $21.74, with a volume of 151,759 shares changing hands. The stock had previously closed at $21.61.

Several equities research analysts have issued reports on PDM shares. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, July 12th. DA Davidson reaffirmed a “hold” rating and set a $22.00 price target (up previously from $20.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, May 3rd. Finally, Stifel Nicolaus raised their price target on 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 assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $20.71.

The stock has a market cap of $3.14 billion and a PE ratio of 19.54. The firm has a 50-day moving average of $21.07 and a 200-day moving average of $19.71.

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

A number of large investors recently made changes to their positions in PDM. Matarin Capital Management LLC bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at about $4,365,000. Bank of Montreal Can increased 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 during the period. Cornerstone Capital Management Holdings LLC. increased 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 during the period. Morgan Stanley increased 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 during the period. Finally, Vanguard Group Inc. increased its stake 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 valued at $402,745,000 after buying an additional 167,166 shares during the period.

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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