Truist raised the firm’s price target on Piedmont Office Realty to $11 from $10 and keeps a Buy rating on the shares. The firm notes a likely more favorable outlook in terms of office fundamentals and interest rates, adding that while the stock is up 20% year-to-date relative to 2% for Vanguard Real Estate Index Fund ETF (VNQ), it is still “significantly undervalued”, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDM:
- Piedmont Office Realty narrows FY24 FFO view to $1.46-$1.52 from $1.46-$1.50
- Piedmont Office Realty reports Q2 core FFO EPS 37c, consensus 37c
- Piedmont Office Realty Trust Reports Second Quarter 2024 Results
- PDM Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- PIEDMONT OFFICE REALTY TRUST DECLARES THIRD QUARTER DIVIDEND