Shares of Piedmont Office Realty Trust Inc. (NYSE:PDM) traded down 1.7% during trading on Thursday . The stock traded as low as $21.29 and last traded at $21.29, with a volume of 142,811 shares. The stock had previously closed at $21.65.

Several analysts have recently commented on the company. DA Davidson restated a “hold” rating and set a $22.00 target price (up previously from $20.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, May 3rd. Zacks Investment Research cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Finally, Stifel Nicolaus increased their target price on Piedmont Office Realty Trust from $16.50 to $18.00 and gave the stock a “sell” rating in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.86.

The stock’s 50-day moving average is $21.44 and its 200 day moving average is $20.04. The stock has a market cap of $3.11 billion and a price-to-earnings ratio of 14.62.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company earned $135.30 million during the quarter, compared to analyst estimates of $138.87 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Piedmont Office Realty Trust’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts forecast that Piedmont Office Realty Trust Inc. will post $1.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 26th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $0.84 annualized dividend and a yield of 3.93%.

A number of institutional investors recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 valued at $402,745,000 after buying an additional 167,166 shares in the last quarter. Rhumbline Advisers boosted 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 valued at $2,517,000 after buying an additional 1,250 shares in the last quarter. Bank of Montreal Can boosted 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 valued at $1,360,000 after buying an additional 54,931 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted 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 valued at $2,470,000 after buying an additional 128,029 shares in the last quarter. Finally, Morgan Stanley boosted its position 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.

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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