StockNews.com Upgrades Piedmont Office Realty Trust (NYSE:PDM) to Hold

Piedmont Office Realty Trust (NYSE:PDM) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Piedmont Office Realty Trust Stock Up 12.5 %

Shares of PDM opened at $6.30 on Monday. The company has a market capitalization of $779.37 million, a price-to-earnings ratio of 14.32 and a beta of 1.09. Piedmont Office Realty Trust has a 52 week low of $4.91 and a 52 week high of $11.37. The stock’s 50-day moving average price is $5.67 and its 200-day moving average price is $6.47. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.16.

Institutional Trading of Piedmont Office Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Piedmont Office Realty Trust by 78.7% during the 1st quarter. Quarry LP now owns 3,871 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,705 shares in the last quarter. Parallel Advisors LLC boosted its position in Piedmont Office Realty Trust by 181.6% during the first quarter. Parallel Advisors LLC now owns 4,840 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 3,121 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Piedmont Office Realty Trust in the first quarter valued at approximately $43,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Piedmont Office Realty Trust in the third quarter valued at approximately $60,000. Finally, Point72 Hong Kong Ltd raised its stake in shares of Piedmont Office Realty Trust by 3,499.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 4,643 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 4,514 shares during the period. Institutional investors and hedge funds own 84.72% of the company’s stock.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (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. Its approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. 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 S&P Global Ratings (BBB) and Moody's (Baa2).