BlackRock Inc. Boosts Position in Piedmont Office Realty Trust, Inc. (PDM)

BlackRock Inc. increased its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,707,520 shares of the real estate investment trust’s stock after acquiring an additional 97,660 shares during the period. BlackRock Inc. owned about 6.67% of Piedmont Office Realty Trust worth $204,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Heartland Consultants Inc. raised its position in Piedmont Office Realty Trust by 0.3% in the 1st quarter. First Heartland Consultants Inc. now owns 11,187 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 33 shares in the last quarter. Financial Counselors Inc. raised its position in Piedmont Office Realty Trust by 0.5% in the 2nd quarter. Financial Counselors Inc. now owns 10,454 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 47 shares in the last quarter. National Planning Corp raised its position in Piedmont Office Realty Trust by 1.4% in the 2nd quarter. National Planning Corp now owns 14,574 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 200 shares in the last quarter. Utah Retirement Systems raised its position in Piedmont Office Realty Trust by 0.7% in the 1st quarter. Utah Retirement Systems now owns 41,360 shares of the real estate investment trust’s stock valued at $884,000 after purchasing an additional 300 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Piedmont Office Realty Trust by 4.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,060 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 364 shares in the last quarter. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

PDM has been the topic of a number of analyst reports. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. BidaskClub raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $21.00 price target on shares of Piedmont Office Realty Trust in a research report on Thursday, September 21st. Finally, Robert W. Baird raised Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and increased their price target for the company from $23.00 to $24.00 in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.00.

Shares of Piedmont Office Realty Trust, Inc. (NYSE PDM) opened at 20.25 on Monday. Piedmont Office Realty Trust, Inc. has a 12 month low of $18.61 and a 12 month high of $23.08. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 52.60 and a beta of 0.60. The stock’s 50 day moving average price is $20.15 and its 200 day moving average price is $21.01.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Piedmont Office Realty Trust had a return on equity of 2.67% and a net margin of 9.71%. The business had revenue of $148.70 million for the quarter, compared to analysts’ expectations of $147.66 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 221.06%.

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About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

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

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