Piedmont Office Realty Trust (PDM) was Reiterated by Stifel to “Sell” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $16.50 . Stifel advised their investors in a research report released on May 10, 2016.
On the company’s financial health, Piedmont Office Realty Trust reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.40. The company had revenue of $138.00 million for the quarter, compared to analysts expectations of $139.25 million. The company’s revenue was down -7.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.
Piedmont Office Realty Trust opened for trading at $20.4 and hit $20.74 on the upside on Friday, eventually ending the session at $20.72, with a gain of 1.22% or 0.25 points. The heightened volatility saw the trading volume jump to 8,95,531 shares. Company has a market cap of $3,007 M.
In a different news, on Dec 11, 2015, Laura P Moon (SVP- CAO) sold 11,000 shares at $18.75 per share price. According to the SEC, on Sep 2, 2015, Donald A Miller (CEO) purchased 7,500 shares at $16.72 per share price. On Aug 26, 2015, Jeffrey L. Swope (director) purchased 5,800 shares at $17.25 per share price, according to the Form-4 filing with the securities and exchange commission.
Piedmont Office Realty Trust Inc. (Piedmont) is an integrated self-managed real estate investment trust (REIT) specializing in the acquisition ownership management development and disposition of primarily Class A office buildings located in the United States office markets. The Company conducts business through Piedmont Operating Partnership L.P. as well as performing the management of its buildings through two wholly owned subsidiaries Piedmont Government Services LLC and Piedmont Office Management LLC. The Company owns and operates 74 office properties one redevelopment asset and one office building through an unconsolidated joint venture. The Company’s office buildings are located primarily in nine United States office markets including Atlanta Boston Chicago Dallas Houston Los Angeles Minneapolis New York and Washington D.C.