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

A number of research analysts recently weighed in on the company. DA Davidson upped their price objective on Piedmont Office Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Zacks Investment Research lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. Finally, Stifel Nicolaus upped their price objective 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, four have given a hold rating and one has given a buy rating to the company’s stock. Piedmont Office Realty Trust has an average rating of “Hold” and a consensus price target of $20.83.

The stock has a market cap of $3.16 billion and a P/E ratio of 14.89. The company has a 50 day moving average price of $21.51 and a 200-day moving average price of $20.42.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $135.30 million for the quarter, compared to the consensus estimate of $138.87 million. During the same period in the prior year, the business earned $0.39 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Analysts predict that Piedmont Office Realty Trust Inc. will post $1.64 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 26th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend 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.

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