American Century Companies Inc. lifted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,021,416 shares of the real estate investment trust’s stock after purchasing an additional 32,169 shares during the period. American Century Companies Inc. owned 3.91% of Piedmont Office Realty Trust worth $95,055,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of PDM. Cbre Clarion Securities LLC acquired a new stake in shares of Piedmont Office Realty Trust in the second quarter valued at approximately $98,513,000. BlackRock Inc. grew its holdings in Piedmont Office Realty Trust by 25.5% during the 2nd quarter. BlackRock Inc. now owns 13,293,804 shares of the real estate investment trust’s stock worth $264,945,000 after acquiring an additional 2,702,702 shares during the period. Cornerstone Wealth Management LLC grew its holdings in Piedmont Office Realty Trust by 1,888.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,305,385 shares of the real estate investment trust’s stock worth $66,062,000 after acquiring an additional 1,239,731 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in Piedmont Office Realty Trust during the 3rd quarter worth $17,470,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new stake in Piedmont Office Realty Trust during the 2nd quarter worth $11,907,000. 87.41% of the stock is owned by institutional investors and hedge funds.
In other news, Director Dale H. Taysom purchased 2,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was bought at an average price of $17.85 per share, with a total value of $35,700.00. Following the acquisition, the director now directly owns 16,808 shares of the company’s stock, valued at $300,022.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by insiders.
PDM opened at $18.54 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.75 and a quick ratio of 1.75. Piedmont Office Realty Trust, Inc. has a 52 week low of $16.69 and a 52 week high of $20.57. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.37 and a beta of 0.58.
Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Piedmont Office Realty Trust had a net margin of 10.13% and a return on equity of 2.95%. The firm had revenue of $129.71 million during the quarter, compared to analyst estimates of $127.24 million. During the same quarter in the previous year, the business earned $0.42 EPS. Equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.7 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, November 30th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Thursday, November 29th. Piedmont Office Realty Trust’s dividend payout ratio is presently 48.00%.
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Piedmont Office Realty Trust Profile
Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets 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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