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

A number of brokerages have recently commented on PDM. DA Davidson reissued a “hold” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, May 3rd. Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. Finally, Stifel Nicolaus boosted their price objective on shares of 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. Two 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 stock. The company has a consensus rating of “Hold” and an average price target of $20.86.

The stock has a market cap of $3.12 billion and a price-to-earnings ratio of 14.68. The firm has a 50-day moving average price of $21.47 and a 200 day moving average price of $20.06.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $135.30 million for the quarter, compared to analyst estimates of $138.87 million. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Analysts anticipate that Piedmont Office Realty Trust Inc. will post $1.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 26th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, August 24th.

Several hedge funds recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of 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 period. 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. Rhumbline Advisers increased its stake 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 during the period. Finally, Matarin Capital Management LLC bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at 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.

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