Commonwealth Equity Services LLC Reduces Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Commonwealth Equity Services LLC reduced its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM – Free Report) by 4.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,001 shares of the real estate investment trust’s stock after selling 3,944 shares during the period. Commonwealth Equity Services LLC owned about 0.08% of Piedmont Office Realty Trust worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $9,642,000. Wilsey Asset Management Inc. boosted its stake in Piedmont Office Realty Trust by 50.2% during the second quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock worth $28,274,000 after acquiring an additional 1,302,681 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Piedmont Office Realty Trust by 694.5% in the first quarter. SG Americas Securities LLC now owns 590,715 shares of the real estate investment trust’s stock worth $4,153,000 after purchasing an additional 516,367 shares in the last quarter. Swedbank AB acquired a new position in Piedmont Office Realty Trust in the first quarter worth $3,488,000. Finally, Vanguard Group Inc. raised its stake in Piedmont Office Realty Trust by 2.1% in 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 last quarter. 84.48% of the shares are held by hedge funds and other institutional investors.

Changes in Analyst Ratings

Several brokerages have recently weighed in on PDM. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial reaffirmed a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th.

Read our latest review of PDM

Piedmont Office Realty Trust stock rose 2.0%

Shares of Piedmont Office Realty Trust stock opened at $10.15 on Friday. Piedmont Office Realty Trust, Inc. it has a 12-month low of $4.91 and a 12-month high of $10.28. The stock’s fifty-day simple moving average is $8.97, and its 200-day simple moving average is $7.62. The company has a current ratio of 2.40, a quick ratio of 2.40, and a debt-to-equity ratio of 1.34. The firm has a market cap of $1.26 billion, a P/E ratio of -16.46 and a beta of 1.22.

Piedmont Office Realty Trust (NYSE:PDM – Get Free Report ) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.45). Piedmont Office Realty Trust had a negative return on equity of 4.84% and a negative net margin of 14.24%. The firm had revenue of $143.26 million for the quarter, compared to analyst estimates of $141.25 million. As a group, equities analysts expect that Piedmont Office Realty Trust, Inc. to post 1.5 earnings per share for the current fiscal year.

Piedmont Office Realty Trust announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 23rd will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, August 23. This represents an annualized dividend of $0.50 and a yield of 4.93%. Piedmont Office Realty Trust’s dividend payout ratio is currently -81.97%.

Piedmont Office Realty Trust Profile

(Free report)

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 the Sunbelt Markets from the USA. The Company is a fully integrated, self-managed real estate investment trust (“REIT”) with local administrative offices in each of its markets and is rated investment grade by Standard & Poor’s and Moody’s.

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