Piedmont Office Realty Trust (PDM) Issues FY17 Earnings Guidance
Piedmont Office Realty Trust (NYSE:PDM) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $1.64-1.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.75.
Several research analysts recently issued reports on the company. SunTrust Banks set a $21.00 target price on Piedmont Office Realty Trust and gave the company a hold rating in a research report on Monday, January 22nd. Zacks Investment Research raised Piedmont Office Realty Trust from a sell rating to a hold rating in a research report on Thursday, January 18th. ValuEngine raised Piedmont Office Realty Trust from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $20.00 target price on shares of Piedmont Office Realty Trust in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $22.00.
Shares of Piedmont Office Realty Trust (NYSE:PDM) traded down $0.08 during trading hours on Thursday, reaching $18.21. The company had a trading volume of 593,999 shares, compared to its average volume of 1,311,127. Piedmont Office Realty Trust has a 12 month low of $18.01 and a 12 month high of $23.08. The firm has a market cap of $2,652.11, a price-to-earnings ratio of 13.65, a P/E/G ratio of 2.75 and a beta of 0.55. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.78.
In other news, Director Wesley E. Cantrell sold 7,500 shares of the stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $20.02, for a total value of $150,150.00. Following the transaction, the director now directly owns 35,973 shares of the company’s stock, valued at $720,179.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is currently owned by corporate insiders.
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Piedmont Office Realty Trust Company Profile
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.
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