Piedmont Office Realty Trust (PDM) Holdings Lifted by Piermont Capital Management Inc.

Piermont Capital Management Inc. boosted its holdings in Piedmont Office Realty Trust (NYSE:PDM) by 2.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,671 shares of the real estate investment trust’s stock after purchasing an additional 2,850 shares during the quarter. Piermont Capital Management Inc. owned approximately 0.10% of Piedmont Office Realty Trust worth $2,351,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PDM. Northern Trust Corp boosted its stake in Piedmont Office Realty Trust by 64.5% in the 1st quarter. Northern Trust Corp now owns 3,830,185 shares of the real estate investment trust’s stock worth $67,373,000 after purchasing an additional 1,501,242 shares during the period. American Century Companies Inc. boosted its stake in Piedmont Office Realty Trust by 25.5% in the 4th quarter. American Century Companies Inc. now owns 6,507,443 shares of the real estate investment trust’s stock worth $127,611,000 after purchasing an additional 1,320,393 shares during the period. Renaissance Technologies LLC boosted its stake in Piedmont Office Realty Trust by 25.2% in the 4th quarter. Renaissance Technologies LLC now owns 3,411,200 shares of the real estate investment trust’s stock worth $66,894,000 after purchasing an additional 686,300 shares during the period. BlackRock Inc. boosted its stake in Piedmont Office Realty Trust by 5.8% in the 4th quarter. BlackRock Inc. now owns 10,515,155 shares of the real estate investment trust’s stock worth $206,202,000 after purchasing an additional 578,086 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Piedmont Office Realty Trust by 1,025.1% in the 4th quarter. Two Sigma Advisers LP now owns 276,473 shares of the real estate investment trust’s stock worth $5,422,000 after purchasing an additional 251,900 shares during the period. Institutional investors and hedge funds own 85.73% of the company’s stock.

In other news, Director Jeffrey L. Swope acquired 5,700 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average cost of $17.57 per share, with a total value of $100,149.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Hefner Barrett acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 4th. The shares were purchased at an average cost of $18.65 per share, for a total transaction of $186,500.00. Following the completion of the acquisition, the director now directly owns 16,446 shares in the company, valued at $306,717.90. The disclosure for this purchase can be found here. 0.91% of the stock is owned by corporate insiders.

Several research firms have weighed in on PDM. ValuEngine downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Stifel Nicolaus downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. SunTrust Banks set a $20.00 price objective on Piedmont Office Realty Trust and gave the stock a “hold” rating in a report on Tuesday, March 6th. Finally, Robert W. Baird set a $22.00 price objective on Piedmont Office Realty Trust and gave the stock a “buy” rating in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $21.25.

Shares of PDM opened at $17.93 on Monday. The company has a market cap of $2.30 billion, a PE ratio of 10.25, a PEG ratio of 2.61 and a beta of 0.60. Piedmont Office Realty Trust has a 1 year low of $16.69 and a 1 year high of $21.80. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.28 and a current ratio of 2.28.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business had revenue of $129.90 million for the quarter, compared to analysts’ expectations of $131.38 million. Piedmont Office Realty Trust had a return on equity of 3.33% and a net margin of 31.73%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. equities analysts forecast that Piedmont Office Realty Trust will post 1.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Wednesday, May 23rd will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, May 22nd. This represents a $0.84 annualized dividend and a dividend yield of 4.68%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 48.00%.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select submarkets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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Institutional Ownership by Quarter for Piedmont Office Realty Trust (NYSE:PDM)

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