Cubist Systematic Strategies LLC Has $1.20 Million Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Cubist Systematic Strategies LLC lifted its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 529.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,216 shares of the real estate investment trust’s stock after acquiring an additional 57,385 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.05% of Piedmont Office Realty Trust worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Piermont Capital Management Inc. grew its stake in shares of Piedmont Office Realty Trust by 2.2% in the 1st quarter. Piermont Capital Management Inc. now owns 133,671 shares of the real estate investment trust’s stock valued at $2,351,000 after buying an additional 2,850 shares during the period. Cornercap Investment Counsel Inc. grew its stake in shares of Piedmont Office Realty Trust by 8.5% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 40,580 shares of the real estate investment trust’s stock valued at $714,000 after buying an additional 3,190 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Piedmont Office Realty Trust by 38.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 12,011 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 3,366 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Piedmont Office Realty Trust by 13.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 30,819 shares of the real estate investment trust’s stock valued at $542,000 after purchasing an additional 3,674 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Piedmont Office Realty Trust by 1.9% during the 4th quarter. Swiss National Bank now owns 247,900 shares of the real estate investment trust’s stock valued at $4,861,000 after purchasing an additional 4,600 shares during the last quarter. 85.55% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Kelly Hefner Barrett purchased 10,000 shares of the firm’s stock in a transaction dated Friday, May 4th. The shares were purchased at an average price of $18.65 per share, with a total value of $186,500.00. Following the completion of the acquisition, the director now owns 16,446 shares in the company, valued at approximately $306,717.90. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.91% of the company’s stock.

A number of research firms have issued reports on PDM. ValuEngine upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Stifel Nicolaus downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. Finally, SunTrust Banks set a $20.00 price target on shares of Piedmont Office Realty Trust and gave the stock a “hold” rating in a report on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Piedmont Office Realty Trust has an average rating of “Hold” and a consensus target price of $21.25.

Shares of PDM stock opened at $19.62 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.94. Piedmont Office Realty Trust, Inc. has a 1 year low of $16.69 and a 1 year high of $21.48. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 2.92 and a beta of 0.64.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $129.90 million for the quarter, compared to analysts’ expectations of $131.38 million. Piedmont Office Realty Trust had a net margin of 31.73% and a return on equity of 3.33%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Wednesday, May 23rd were issued a $0.21 dividend. The ex-dividend date was Tuesday, May 22nd. This represents a $0.84 annualized dividend and a dividend yield of 4.28%. Piedmont Office Realty Trust’s payout ratio is currently 48.00%.

Piedmont Office Realty Trust Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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

Receive News & Ratings for Piedmont Office Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply