Piedmont Office Realty Trust (NYSE:PDM) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Piedmont Office Realty Trust (NYSE:PDMFree Report) from a hold rating to a sell rating in a report released on Friday.

Piedmont Office Realty Trust Trading Down 1.1 %

NYSE:PDM opened at $7.20 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $892.01 million, a price-to-earnings ratio of -11.80 and a beta of 1.19. Piedmont Office Realty Trust has a one year low of $4.91 and a one year high of $8.05. The business has a fifty day moving average price of $7.00 and a 200-day moving average price of $6.86.

Piedmont Office Realty Trust (NYSE:PDMGet Free Report) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.61). The firm had revenue of $144.54 million during the quarter, compared to the consensus estimate of $143.41 million. Piedmont Office Realty Trust had a negative return on equity of 4.29% and a negative net margin of 12.90%. Sell-side analysts forecast that Piedmont Office Realty Trust will post 1.5 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date was Thursday, May 23rd. Piedmont Office Realty Trust’s payout ratio is -81.97%.

Institutional Trading of Piedmont Office Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Piedmont Office Realty Trust by 2.1% during the first quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock worth $135,115,000 after acquiring an additional 394,282 shares during the period. Private Management Group Inc. increased its holdings in Piedmont Office Realty Trust by 0.3% during the first quarter. Private Management Group Inc. now owns 4,631,310 shares of the real estate investment trust’s stock valued at $32,558,000 after buying an additional 14,784 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Piedmont Office Realty Trust by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,412,069 shares of the real estate investment trust’s stock valued at $24,260,000 after buying an additional 209,963 shares during the period. Wilsey Asset Management Inc. increased its holdings in Piedmont Office Realty Trust by 34.5% during the first quarter. Wilsey Asset Management Inc. now owns 2,597,119 shares of the real estate investment trust’s stock valued at $18,258,000 after buying an additional 666,145 shares during the period. Finally, Glenmede Trust Co. NA increased its holdings in Piedmont Office Realty Trust by 86.6% during the third quarter. Glenmede Trust Co. NA now owns 1,695,612 shares of the real estate investment trust’s stock valued at $9,529,000 after buying an additional 786,699 shares during the period. 84.48% of the stock is owned by hedge funds and other institutional investors.

About Piedmont Office Realty Trust

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Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.

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