Shares of Piedmont Office Realty Trust Inc. (NYSE:PDM) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $22.00 and last traded at $21.76, with a volume of 163,590 shares traded. The stock had previously closed at $21.62.

A number of brokerages have recently issued reports on PDM. Zacks Investment Research cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Stifel Nicolaus increased 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 note on Tuesday, May 10th. Finally, DA Davidson raised their target price on shares of Piedmont Office Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Piedmont Office Realty Trust currently has an average rating of “Hold” and an average price target of $20.86.

The firm has a market capitalization of $3.16 billion and a price-to-earnings ratio of 14.87. The company has a 50-day moving average price of $21.50 and a 200 day moving average price of $20.40.

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, meeting the consensus estimate of $0.40. The business had revenue of $135.30 million for the quarter, compared to analyst estimates of $138.87 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. Equities analysts anticipate that Piedmont Office Realty Trust Inc. will post $1.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 26th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.89%. The ex-dividend date is Wednesday, August 24th.

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's FREE daily email newsletter.