Amundi Pioneer Asset Management Inc. Trims Stake in Piedmont Office Realty Trust, Inc. (PDM)

Amundi Pioneer Asset Management Inc. trimmed its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 44.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,409 shares of the real estate investment trust’s stock after selling 130,950 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.13% of Piedmont Office Realty Trust worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centaurus Financial Inc. bought a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at approximately $104,000. Clearwater Capital Advisors LLC bought a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at approximately $134,000. Neuberger Berman Group LLC bought a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at approximately $206,000. Tibra Equities Europe Ltd bought a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at approximately $208,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Piedmont Office Realty Trust by 38.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,011 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 3,366 shares during the period. 85.55% of the stock is owned by institutional investors.

Shares of NYSE PDM opened at $19.76 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $2.55 billion, a P/E ratio of 11.29, a PEG ratio of 2.94 and a beta of 0.61. Piedmont Office Realty Trust, Inc. has a one year low of $16.69 and a one year high of $21.48.

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

The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Wednesday, May 23rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, May 22nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.25%. Piedmont Office Realty Trust’s payout ratio is 48.00%.

Several research firms have recently weighed in on PDM. ValuEngine cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Stifel Nicolaus cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. SunTrust Banks set a $20.00 price objective on Piedmont Office Realty Trust and gave the company a “hold” rating in a research report on Tuesday, March 6th. Finally, DA Davidson raised Piedmont Office Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $23.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.60.

In other news, Director Kelly Hefner Barrett bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The stock was acquired at an average cost of $18.65 per share, for a total transaction of $186,500.00. Following the completion of the purchase, the director now owns 16,446 shares of the company’s stock, valued at approximately $306,717.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.91% of the company’s stock.

Piedmont Office Realty Trust Company 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.

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

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