PNC Financial Services Group Inc. Buys 11,425 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

PNC Financial Services Group Inc. grew its position in Piedmont Office Realty Trust, Inc. (NYSE:PDMFree Report) by 79.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,840 shares of the real estate investment trust’s stock after acquiring an additional 11,425 shares during the period. PNC Financial Services Group Inc.’s holdings in Piedmont Office Realty Trust were worth $184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Piedmont Office Realty Trust by 16.2% during the fourth quarter. Wellington Management Group LLP now owns 1,202,281 shares of the real estate investment trust’s stock worth $8,548,000 after buying an additional 167,262 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in shares of Piedmont Office Realty Trust by 13.4% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,449,081 shares of the real estate investment trust’s stock valued at $10,303,000 after buying an additional 170,823 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Piedmont Office Realty Trust by 109.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 580,059 shares of the real estate investment trust’s stock worth $4,124,000 after buying an additional 302,859 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Piedmont Office Realty Trust by 67.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,172,355 shares of the real estate investment trust’s stock valued at $6,589,000 after purchasing an additional 471,945 shares in the last quarter. Finally, Camelot Portfolios LLC lifted its position in Piedmont Office Realty Trust by 4.0% in the 4th quarter. Camelot Portfolios LLC now owns 52,500 shares of the real estate investment trust’s stock valued at $373,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th.

Check Out Our Latest Research Report on Piedmont Office Realty Trust

Piedmont Office Realty Trust Trading Up 2.1 %

Piedmont Office Realty Trust stock opened at $7.38 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50-day simple moving average of $7.09 and a 200 day simple moving average of $6.87. The stock has a market capitalization of $914.31 million, a P/E ratio of -12.10 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a 52 week low of $4.91 and a 52 week high of $8.05.

Piedmont Office Realty Trust (NYSE:PDMGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.61). The business had revenue of $144.54 million during the quarter, compared to the consensus estimate of $143.41 million. Piedmont Office Realty Trust had a negative net margin of 12.90% and a negative return on equity of 4.29%. Analysts expect that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date was Thursday, May 23rd. Piedmont Office Realty Trust’s dividend payout ratio is presently -81.97%.

Piedmont Office Realty Trust Company 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 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.

Further Reading

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

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