First Heartland Consultants Inc. Acquires 28 Shares of Piedmont Office Realty Trust, Inc. (PDM)

First Heartland Consultants Inc. raised its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,215 shares of the real estate investment trust’s stock after buying an additional 28 shares during the period. First Heartland Consultants Inc.’s holdings in Piedmont Office Realty Trust were worth $236,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Westpac Banking Corp boosted its stake in Piedmont Office Realty Trust by 3.6% in the first quarter. Westpac Banking Corp now owns 224,900 shares of the real estate investment trust’s stock valued at $4,808,000 after buying an additional 7,900 shares during the period. James Investment Research Inc. acquired a new stake in Piedmont Office Realty Trust during the first quarter valued at about $141,000. Geode Capital Management LLC boosted its stake in Piedmont Office Realty Trust by 7.2% in the first quarter. Geode Capital Management LLC now owns 1,446,915 shares of the real estate investment trust’s stock valued at $30,935,000 after buying an additional 97,659 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Piedmont Office Realty Trust by 34.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,664 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 2,755 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Piedmont Office Realty Trust by 17.8% in the first quarter. AQR Capital Management LLC now owns 190,109 shares of the real estate investment trust’s stock valued at $4,065,000 after buying an additional 28,664 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) traded down 0.55% on Friday, reaching $20.06. The company had a trading volume of 548,566 shares. Piedmont Office Realty Trust, Inc. has a 52-week low of $18.61 and a 52-week high of $23.08. The stock has a market capitalization of $2.92 billion, a PE ratio of 52.10 and a beta of 0.60. The company has a 50 day moving average price of $20.77 and a 200 day moving average price of $21.50.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 221.06%.

Piedmont Office Realty Trust announced that its Board of Directors has initiated a share buyback program on Wednesday, May 3rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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Several equities research analysts have recently issued reports on PDM shares. Zacks Investment Research cut Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, May 5th. ValuEngine cut Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, BidaskClub cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, June 24th.

In related news, CAO Laura P. Moon sold 7,800 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $21.64, for a total value of $168,792.00. Following the completion of the sale, the chief accounting officer now directly owns 24,620 shares in the company, valued at $532,776.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.76% of the company’s stock.

Piedmont Office Realty Trust Company Profile

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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