Piedmont Office Realty Trust Inc. (NYSE:PDM) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $21.76 and last traded at $21.74, with a volume of 187,759 shares changing hands. The stock had previously closed at $21.40.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. 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 report on Tuesday, May 10th. Finally, DA Davidson restated 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.71.

The company has a 50 day moving average price of $21.16 and a 200 day moving average price of $19.77. The company has a market cap of $3.14 billion and a PE ratio of 19.54.

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

Several hedge funds and institutional investors have made changes to their positions in the stock. Vanguard Group Inc. increased 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 during the last quarter. Rhumbline Advisers increased 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 during the last quarter. Russell Frank Co increased 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 during the last quarter. Bank of Montreal Can increased 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 during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position 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 worth $2,470,000 after buying an additional 128,029 shares during 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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