Piedmont Office Reaches New 52-Week High (PDM)

NEW YORK ( TheStreet) -- Piedmont Office Realty (NYSE: PDM) hit a new 52-week high Wednesday as it is currently trading at $21.03, above its previous 52-week high of $21 with 1.3 million shares traded as of 1:42 p.m. ET. Average volume has been 1.1 million shares over the past 30 days.

Piedmont Office has a market cap of $3.6 billion and is part of the financial sector and real estate industry. Shares are up 3.3% year to date as of the close of trading on Tuesday.

Piedmont Office Realty Trust, Inc. engages in the acquisition and ownership of commercial real estate properties in the United States. Its property portfolio primarily consists of office and industrial buildings, warehouses, and manufacturing facilities. The company has a P/E ratio of 27.6, below the average real estate industry P/E ratio of 29.6 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Piedmont Office as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including poor profit margins and weak operating cash flow. You can view the full Piedmont Office Ratings Report.

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