Raymond James Financial Services Advisors Inc. increased its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 17,680 shares of the real estate investment trust’s stock after buying an additional 396 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Piedmont Office Realty Trust were worth $378,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of PDM. Russell Investments Group Ltd. bought a new stake in Piedmont Office Realty Trust during the fourth quarter valued at approximately $3,310,000. Cadence Capital Management LLC bought a new stake in Piedmont Office Realty Trust during the fourth quarter valued at approximately $258,000. Dimensional Fund Advisors LP boosted its stake in Piedmont Office Realty Trust by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,103,779 shares of the real estate investment trust’s stock valued at $43,989,000 after buying an additional 11,911 shares in the last quarter. FMR LLC boosted its stake in Piedmont Office Realty Trust by 1.3% in the fourth quarter. FMR LLC now owns 16,010,734 shares of the real estate investment trust’s stock valued at $334,785,000 after buying an additional 203,079 shares in the last quarter. Finally, Elkfork Partners LLC bought a new stake in Piedmont Office Realty Trust during the fourth quarter valued at approximately $774,000. 86.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) opened at 21.34 on Friday. The company has a market capitalization of $3.10 billion, a PE ratio of 29.68 and a beta of 0.61. Piedmont Office Realty Trust, Inc. has a 12 month low of $18.61 and a 12 month high of $23.08. The firm’s 50-day moving average is $21.45 and its 200 day moving average is $21.44.
Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.34. Piedmont Office Realty Trust had a net margin of 19.89% and a return on equity of 5.26%. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $145.35 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts predict that Piedmont Office Realty Trust, Inc. will post $0.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Wednesday, May 24th. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 109.09%.
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PDM has been the topic of several analyst reports. Zacks Investment Research cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. BidaskClub raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday.
In other Piedmont Office Realty Trust news, CAO Laura P. Moon sold 7,800 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $21.64, for a total value of $168,792.00. Following the transaction, the chief accounting officer now directly owns 24,620 shares of the company’s stock, valued at $532,776.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.
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.
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