Cohen & Steers Inc. Buys New Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Cohen & Steers Inc. acquired a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDMGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 207,934 shares of the real estate investment trust’s stock, valued at approximately $3,581,000. Cohen & Steers Inc. owned approximately 0.17% of Piedmont Office Realty Trust at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Piedmont Office Realty Trust by 4.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 74,941 shares of the real estate investment trust’s stock worth $1,377,000 after acquiring an additional 3,215 shares during the last quarter. Raymond James & Associates increased its position in shares of Piedmont Office Realty Trust by 6.8% during the fourth quarter. Raymond James & Associates now owns 36,457 shares of the real estate investment trust’s stock worth $670,000 after acquiring an additional 2,328 shares during the last quarter. Bank of America Corp DE increased its position in shares of Piedmont Office Realty Trust by 22.9% during the fourth quarter. Bank of America Corp DE now owns 969,458 shares of the real estate investment trust’s stock worth $17,817,000 after acquiring an additional 180,820 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Piedmont Office Realty Trust by 20.2% during the fourth quarter. Teacher Retirement System of Texas now owns 24,005 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 4,029 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Piedmont Office Realty Trust by 2.3% in the fourth quarter. Citigroup Inc. now owns 123,563 shares of the real estate investment trust’s stock valued at $2,270,000 after buying an additional 2,729 shares during the last quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.

Piedmont Office Realty Trust Stock Up 0.9 %

NYSE:PDM opened at $12.42 on Monday. The firm has a market capitalization of $1.53 billion, a PE ratio of 32.68 and a beta of 0.97. The stock has a 50 day moving average of $12.87 and a 200-day moving average of $14.61. Piedmont Office Realty Trust, Inc. has a 52 week low of $11.55 and a 52 week high of $19.84. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.92.

Piedmont Office Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 26th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.76%. The ex-dividend date is Thursday, August 25th. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 221.05%.

Analysts Set New Price Targets

Several analysts recently weighed in on PDM shares. StockNews.com lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 26th. Truist Financial lowered their price objective on Piedmont Office Realty Trust from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, June 30th.

Insider Activity

In related news, Director Glenn Gary Cohen bought 3,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was bought at an average cost of $13.01 per share, with a total value of $39,030.00. Following the completion of the acquisition, the director now owns 30,419 shares of the company’s stock, valued at $395,751.19. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.13% of the company’s stock.

Piedmont Office Realty Trust Profile

(Get Rating)

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

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

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