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Weaker technical forecast for Piedmont Office Realty Trust Inc as stock downgraded to Hold/Accumulate.
(Updated on Jun 20, 2024)

Buy or Hold candidate since Jun 14, 2024 Gain 2.68% PDF

The Piedmont Office Realty Trust Inc stock price fell by -1.89% on the last day (Thursday, 20th Jun 2024) from $7.42 to $7.28. During the last trading day the stock fluctuated 2.28% from a day low at $7.25 to a day high of $7.41. The price has risen in 5 of the last 10 days and is up by 0.14% over the past 2 weeks. Volume has increased on the last day by 190 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 872 thousand shares were bought and sold for approximately $6.35 million.

The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.53% during the next 3 months and, with a 90% probability hold a price between $7.57 and $8.21 at the end of this 3-month period.

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PDM Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Piedmont Office Realty Trust Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.12 and $7.10. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Piedmont Office Realty Trust Inc stock

Piedmont Office Realty Trust Inc finds support from accumulated volume at $7.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.165 (2.28%) between high and low. For the last week, the stock has had daily average volatility of 3.09%.

Our recommended stop-loss: $7.04 (-3.24%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (PDM) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Piedmont Office Realty Trust Inc to open at $7.31, and during the day (based on 14 day Average True Range), to move between $7.06 and $7.50, which gives a possible trading interval of +/-$0.224 (+/-3.08%) up or down from last closing price. If Piedmont Office Realty Trust Inc takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.29 (0.14%) than the support at $7.03 (3.43%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Piedmont Office Realty Trust Inc stock A Buy?

Piedmont Office Realty Trust Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.652 Hold/Accumulate Downgraded

Predicted Opening Price for Piedmont Office Realty Trust Inc of Friday, June 21, 2024

Fair opening price June 21, 2024 Current price
$7.31 ( 0.435%) $7.28

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PDM

Fibonacci Support & Resistance Levels

Level Price
R3 7.48 2.70%
R2 7.41 1.84%
R1 7.37 1.30%
Price 7.28
S1 7.25 -0.431%
S2 7.21 -0.97%
S3 7.15 -1.83%

Accumulated Volume Support & Resistance Levels

Level Price
R3 7.42 1.92%
R2 7.32 0.549%
R1 7.29 0.137%
Price 7.28
S1 7.03 -3.43%
S2 6.95 -4.53%
S3 6.91 -5.08%

PDM Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 24, 2024 May 23, 2024 Jun 14, 2024 $0.125 1.76%
2 Feb 01, 2024 Feb 22, 2024 Mar 15, 2024 $0.125 1.98%
3 Oct 25, 2023 Nov 22, 2023 Jan 02, 2024 $0.130 1.76%
4 Jul 26, 2023 Aug 24, 2023 Sep 15, 2023 $0.125 1.97%
5 May 01, 2023 May 25, 2023 Jun 16, 2023 $0.210 2.96%

FAQ

What is the symbol for Piedmont Office Realty Trust Inc Stock and on which exchange is it traded?
The symbol for Piedmont Office Realty Trust Inc is PDM and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Piedmont Office Realty Trust Inc Stock?
Piedmont Office Realty Trust Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

How to buy Piedmont Office Realty Trust Inc Stock?
Piedmont Office Realty Trust Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Piedmont Office Realty Trust Inc Stock.

What's the current price of Piedmont Office Realty Trust Inc Stock?
As of the end of day on the Jun 20, 2024, the price of an Piedmont Office Realty Trust Inc (PDM) share was $7.28.

What is the 52-week high and low for Piedmont Office Realty Trust Inc Stock?
The 52-week high for Piedmont Office Realty Trust Inc Stock is $8.05 and the 52-week low is $4.92.

What is the market capitalization of Piedmont Office Realty Trust Inc Stock?
As of the Jun 20, 2024, the market capitalization of Piedmont Office Realty Trust Inc is 901.926M.

When is the next earnings date for Piedmont Office Realty Trust Inc?
The upcoming earnings date for Piedmont Office Realty Trust Inc is Jul 18, 2024.
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About Piedmont Office Realty Trust Inc

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 select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt. Its geographically-diversified, approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is ... PDM Profile

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