Meritage Portfolio Management Has $3.07 Million Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Meritage Portfolio Management cut its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 39.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,133 shares of the real estate investment trust’s stock after selling 99,973 shares during the period. Meritage Portfolio Management owned approximately 0.12% of Piedmont Office Realty Trust worth $3,072,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its position in shares of Piedmont Office Realty Trust by 5.0% during the first quarter. Daiwa Securities Group Inc. now owns 21,200 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 1,000 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Piedmont Office Realty Trust by 1.0% during the first quarter. Great West Life Assurance Co. Can now owns 101,347 shares of the real estate investment trust’s stock worth $2,114,000 after purchasing an additional 1,037 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Piedmont Office Realty Trust during the first quarter worth $25,000. Legacy Bridge LLC acquired a new stake in shares of Piedmont Office Realty Trust during the first quarter worth $28,000. Finally, Personal Wealth Partners acquired a new stake in shares of Piedmont Office Realty Trust during the second quarter worth $36,000. 86.24% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on PDM shares. Zacks Investment Research lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday. DA Davidson lowered Piedmont Office Realty Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

NYSE:PDM traded down $0.06 during trading hours on Friday, hitting $19.78. 504,762 shares of the company’s stock traded hands, compared to its average volume of 622,098. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 11.43 and a beta of 0.69. Piedmont Office Realty Trust, Inc. has a twelve month low of $16.43 and a twelve month high of $21.40. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a fifty day moving average price of $20.20.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, August 29th. Piedmont Office Realty Trust’s payout ratio is 48.55%.

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

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