Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 48,639 shares of the real estate investment trust’s stock after selling 2,913 shares during the quarter. Raymond James & Associates’ holdings in Piedmont Office Realty Trust were worth $346,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Strs Ohio lifted its stake in Piedmont Office Realty Trust by 0.6% during the third quarter. Strs Ohio now owns 404,260 shares of the real estate investment trust’s stock worth $2,271,000 after purchasing an additional 2,400 shares in the last quarter. Swiss National Bank raised its stake in shares of Piedmont Office Realty Trust by 1.0% in the third quarter. Swiss National Bank now owns 271,900 shares of the real estate investment trust’s stock valued at $1,528,000 after acquiring an additional 2,800 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Piedmont Office Realty Trust by 20.3% in the third quarter. Van ECK Associates Corp now owns 16,671 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 2,808 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Piedmont Office Realty Trust by 20.5% in the third quarter. Bank Pictet & Cie Europe AG now owns 18,951 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 3,222 shares in the last quarter. Finally, GraniteShares Advisors LLC raised its stake in shares of Piedmont Office Realty Trust by 5.3% in the third quarter. GraniteShares Advisors LLC now owns 163,799 shares of the real estate investment trust’s stock valued at $921,000 after acquiring an additional 8,205 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd.

Piedmont Office Realty Trust Stock Performance

NYSE:PDM opened at $6.71 on Monday. The business’s fifty day moving average price is $6.50 and its 200 day moving average price is $6.49. The firm has a market capitalization of $831.29 million, a PE ratio of -16.78 and a beta of 1.15. Piedmont Office Realty Trust, Inc. has a 12 month low of $4.91 and a 12 month high of $8.05. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.49 and a quick ratio of 1.49.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.65). The firm had revenue of $145.33 million for the quarter, compared to analysts’ expectations of $146.37 million. Piedmont Office Realty Trust had a negative return on equity of 2.72% and a negative net margin of 8.38%. On average, sell-side analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.51 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 7.45%. The ex-dividend date is Thursday, May 23rd. Piedmont Office Realty Trust’s payout ratio is -125.00%.

Piedmont Office Realty Trust Profile

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.