Investment Centers of America Inc. Has $1.38 Million Stake in Piedmont Office Realty Trust, Inc. (PDM)

Investment Centers of America Inc. increased its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 3.8% during the first quarter, Holdings Channel reports. The institutional investor owned 64,533 shares of the real estate investment trust’s stock after buying an additional 2,365 shares during the period. Investment Centers of America Inc.’s holdings in Piedmont Office Realty Trust were worth $1,378,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Piedmont Office Realty Trust by 3,921.0% in the first quarter. BlackRock Inc. now owns 9,609,860 shares of the real estate investment trust’s stock valued at $205,459,000 after buying an additional 9,370,868 shares in the last quarter. Norges Bank bought a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at about $29,672,000. Systematic Financial Management LP raised its position in shares of Piedmont Office Realty Trust by 374.8% in the first quarter. Systematic Financial Management LP now owns 1,492,017 shares of the real estate investment trust’s stock valued at $31,899,000 after buying an additional 1,177,792 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Piedmont Office Realty Trust by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,021,266 shares of the real estate investment trust’s stock valued at $492,194,000 after buying an additional 511,212 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Piedmont Office Realty Trust by 3.8% in the first quarter. LSV Asset Management now owns 6,705,681 shares of the real estate investment trust’s stock valued at $143,367,000 after buying an additional 246,000 shares in the last quarter. 86.85% of the stock is owned by institutional investors and hedge funds.

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

Piedmont Office Realty Trust, Inc. (PDM) traded down 1.30% on Friday, hitting $21.34. The stock had a trading volume of 1,344,764 shares. The stock’s 50-day moving average is $21.46 and its 200-day moving average is $21.43. Piedmont Office Realty Trust, Inc. has a 52-week low of $18.61 and a 52-week high of $23.08. The company has a market cap of $3.10 billion, a P/E ratio of 29.68 and a beta of 0.61.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.34. The firm had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $145.35 million. Piedmont Office Realty Trust had a return on equity of 5.26% and a net margin of 19.89%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Analysts expect that Piedmont Office Realty Trust, Inc. will post $0.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, May 26th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.94%. Piedmont Office Realty Trust’s dividend payout ratio is currently 109.09%.

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Several research analysts have recently weighed in on the company. BidaskClub raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Saturday, May 6th.

In other news, CAO Laura P. Moon sold 7,800 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $21.64, for a total transaction of $168,792.00. Following the completion of the sale, the chief accounting officer now directly owns 24,620 shares in the company, valued at $532,776.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.76% of the company’s stock.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

Want to see what other hedge funds are holding PDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piedmont Office Realty Trust, Inc. (NYSE:PDM).

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