Shell Asset Management Co. Sells 4,312 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Shell Asset Management Co. cut its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDMGet Rating) by 12.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,122 shares of the real estate investment trust’s stock after selling 4,312 shares during the quarter. Shell Asset Management Co.’s holdings in Piedmont Office Realty Trust were worth $501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of Piedmont Office Realty Trust during the first quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at $29,000. CWM LLC bought a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at $79,000. Allegheny Financial Group LTD bought a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at $84,000. Finally, Schroder Investment Management Group raised its holdings in shares of Piedmont Office Realty Trust by 31.5% in the fourth quarter. Schroder Investment Management Group now owns 8,028 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,924 shares during the last quarter. 82.61% of the stock is owned by institutional investors.

Piedmont Office Realty Trust Price Performance

Shares of PDM stock opened at $13.18 on Thursday. The stock has a 50-day moving average price of $13.48 and a 200 day moving average price of $15.58. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.92. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 34.68 and a beta of 0.95. Piedmont Office Realty Trust, Inc. has a 12 month low of $12.38 and a 12 month high of $19.84.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 26th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $0.84 dividend on an annualized basis and a yield of 6.37%. Piedmont Office Realty Trust’s payout ratio is 221.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PDM shares. Truist Financial cut their price target on Piedmont Office Realty Trust from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, June 30th. StockNews.com cut Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 26th.

Piedmont Office Realty Trust Company Profile

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Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

See Also

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

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