Piedmont Office Realty Trust (PDM) is Reiterated by DA Davidson to Neutral, Raises Price Target to $ 23

Piedmont Office Realty Trust (PDM) was Reiterated by DA Davidson to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 23 from a previous price target of $22 . DA Davidson advised their investors in a research report released on Aug 8, 2016.

On the company’s financial health, Piedmont Office Realty Trust reported $0.40 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.40. The company had revenue of $135.30 million for the quarter, compared to analysts expectations of $138.17 million. The company’s revenue was down -7.8 % 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 closed down -0.1 points or -0.47% at $21.32 with 3,75,005 shares getting traded on Friday. Post opening the session at $21.47, the shares hit an intraday low of $21.28 and an intraday high of $21.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Piedmont Office Realty Trust

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