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

Several equities analysts have recently weighed in on PDM shares. Zacks Investment Research upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. DA Davidson restated 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, Stifel Nicolaus lifted their price objective on Piedmont Office Realty Trust from $16.50 to $18.00 and gave the stock a “sell” rating in a research 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 assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.71.

The stock has a 50 day moving average of $21.22 and a 200-day moving average of $19.81. The firm has a market capitalization of $3.18 billion and a P/E ratio of 19.82.

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, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $138 million for the quarter, compared to analyst estimates of $139.25 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. Equities analysts expect that Piedmont Office Realty Trust Inc. will post $1.63 EPS for the current year.

Other institutional investors have added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in Piedmont Office Realty Trust by 1.9% in the fourth quarter. First Trust Advisors LP now owns 56,592 shares of the real estate investment trust’s stock valued at $1,068,000 after buying an additional 1,041 shares during the last quarter. Bank of Montreal Can increased its stake in 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. Cornerstone Capital Management Holdings LLC. increased its stake in 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. Rhumbline Advisers increased its stake in 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. Finally, Matarin Capital Management LLC purchased a new stake in Piedmont Office Realty Trust during the fourth quarter worth approximately $4,365,000.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.