Piedmont Office Realty Trust (NYSE:PDM) Rating Lowered to Sell at StockNews.com

Piedmont Office Realty Trust (NYSE:PDM) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Piedmont Office Realty Trust Price Performance

Shares of PDM opened at $7.20 on Friday. Piedmont Office Realty Trust has a 12 month low of $4.91 and a 12 month high of $8.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a fifty day moving average price of $7.00 and a 200 day moving average price of $6.86. The company has a market cap of $892.01 million, a P/E ratio of -11.80 and a beta of 1.19.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.61). Piedmont Office Realty Trust had a negative net margin of 12.90% and a negative return on equity of 4.29%. The firm had revenue of $144.54 million for the quarter, compared to analyst estimates of $143.41 million. On average, research analysts forecast that Piedmont Office Realty Trust will post 1.5 earnings per share for the current year.

Institutional Trading of Piedmont Office Realty Trust

Several large investors have recently added to or reduced their stakes in the business. Sigma Planning Corp acquired a new position in Piedmont Office Realty Trust during the 4th quarter valued at about $71,000. Adero Partners LLC bought a new stake in Piedmont Office Realty Trust during the fourth quarter worth approximately $72,000. First Trust Direct Indexing L.P. bought a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $73,000. Bayesian Capital Management LP acquired a new position in shares of Piedmont Office Realty Trust during the 1st quarter valued at $81,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Piedmont Office Realty Trust during the 3rd quarter valued at $89,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.