Piedmont Office Realty Trust, Inc. (NYSE:PDM) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Saturday, May 6th. ValuEngine downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Piedmont Office Realty Trust has an average rating of “Hold” and an average target price of $22.50.

Shares of Piedmont Office Realty Trust (PDM) traded down 1.67% on Thursday, hitting $20.58. 844,332 shares of the stock traded hands. The firm has a market capitalization of $2.99 billion, a PE ratio of 62.18 and a beta of 0.60. Piedmont Office Realty Trust has a 52 week low of $18.61 and a 52 week high of $23.08. The firm’s 50 day moving average is $20.98 and its 200 day moving average is $21.55.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. The company had revenue of $148.70 million for the quarter, compared to the consensus estimate of $147.66 million. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, analysts expect that Piedmont Office Realty Trust will post $0.40 EPS for the current fiscal year.

Piedmont Office Realty Trust declared that its Board of Directors has authorized a share buyback program on Wednesday, May 3rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/06/piedmont-office-realty-trust-inc-nysepdm-upgraded-at-bidaskclub.html.

In related news, CAO Laura P. Moon sold 7,800 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $21.64, for a total transaction of $168,792.00. Following the transaction, the chief accounting officer now directly owns 24,620 shares in the company, valued at $532,776.80. The sale was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Piedmont Office Realty Trust by 3,921.0% in the first quarter. BlackRock Inc. now owns 9,609,860 shares of the real estate investment trust’s stock worth $205,459,000 after buying an additional 9,370,868 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Piedmont Office Realty Trust by 374.8% in the first quarter. Systematic Financial Management LP now owns 1,492,017 shares of the real estate investment trust’s stock worth $31,899,000 after buying an additional 1,177,792 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Piedmont Office Realty Trust by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,021,266 shares of the real estate investment trust’s stock worth $492,194,000 after buying an additional 511,212 shares during the last quarter. LSV Asset Management increased its position in shares of Piedmont Office Realty Trust by 3.8% in the first quarter. LSV Asset Management now owns 6,705,681 shares of the real estate investment trust’s stock worth $143,367,000 after buying an additional 246,000 shares during the last quarter. Finally, State Street Corp increased its position in shares of Piedmont Office Realty Trust by 4.5% in the first quarter. State Street Corp now owns 4,777,715 shares of the real estate investment trust’s stock worth $102,146,000 after buying an additional 205,578 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

Receive News & Ratings for Piedmont Office Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.