Piedmont Office Realty Trust, Inc. (PDM) Shares Sold by Nationwide Fund Advisors

Nationwide Fund Advisors cut its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,981 shares of the real estate investment trust’s stock after selling 7,056 shares during the quarter. Nationwide Fund Advisors owned about 0.09% of Piedmont Office Realty Trust worth $2,740,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. LSV Asset Management lifted its holdings in shares of Piedmont Office Realty Trust by 1.4% during the second quarter. LSV Asset Management now owns 6,801,281 shares of the real estate investment trust’s stock worth $143,370,000 after buying an additional 95,600 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 1.0% during the second quarter. American Century Companies Inc. now owns 5,265,600 shares of the real estate investment trust’s stock worth $110,999,000 after buying an additional 54,084 shares during the last quarter. Paragon Capital Management Ltd acquired a new position in shares of Piedmont Office Realty Trust during the second quarter worth approximately $246,000. AQR Capital Management LLC lifted its holdings in shares of Piedmont Office Realty Trust by 17.8% during the first quarter. AQR Capital Management LLC now owns 190,109 shares of the real estate investment trust’s stock worth $4,065,000 after buying an additional 28,664 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Piedmont Office Realty Trust by 7.2% during the first quarter. Geode Capital Management LLC now owns 1,446,915 shares of the real estate investment trust’s stock worth $30,935,000 after buying an additional 97,659 shares during the last quarter. Institutional investors own 82.75% of the company’s stock.

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Piedmont Office Realty Trust, Inc. (NYSE:PDM) opened at 20.35 on Friday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 52.86 and a beta of 0.60. The company has a 50 day moving average price of $20.19 and a 200-day moving average price of $20.97. Piedmont Office Realty Trust, Inc. has a 52 week low of $18.61 and a 52 week high of $23.08.

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

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.84 annualized dividend and a yield of 4.13%. Piedmont Office Realty Trust’s payout ratio is currently 221.06%.

A number of brokerages have recently commented on PDM. BidaskClub lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday. Robert W. Baird upgraded Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $24.00 in a report on Monday, August 28th. Stifel Nicolaus reiterated a “hold” rating and set a $21.00 price target on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. Finally, ValuEngine lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $22.67.

Piedmont Office Realty Trust 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.

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

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