Van ECK Associates Corp Has $75,000 Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Van ECK Associates Corp reduced its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDMGet Rating) by 36.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,086 shares of the real estate investment trust’s stock after selling 4,064 shares during the period. Van ECK Associates Corp’s holdings in Piedmont Office Realty Trust were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. State Street Corp lifted its holdings in Piedmont Office Realty Trust by 11.6% during the 1st quarter. State Street Corp now owns 6,174,792 shares of the real estate investment trust’s stock valued at $106,330,000 after purchasing an additional 640,582 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Piedmont Office Realty Trust by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 19,626,841 shares of the real estate investment trust’s stock valued at $337,974,000 after purchasing an additional 534,136 shares during the last quarter. Private Management Group Inc. lifted its holdings in Piedmont Office Realty Trust by 74.7% during the 2nd quarter. Private Management Group Inc. now owns 1,143,539 shares of the real estate investment trust’s stock valued at $15,003,000 after purchasing an additional 489,079 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Piedmont Office Realty Trust by 122.2% during the 2nd quarter. Renaissance Technologies LLC now owns 695,700 shares of the real estate investment trust’s stock valued at $9,128,000 after purchasing an additional 382,600 shares during the last quarter. Finally, FMR LLC lifted its holdings in Piedmont Office Realty Trust by 9.4% during the 2nd quarter. FMR LLC now owns 4,216,424 shares of the real estate investment trust’s stock valued at $55,320,000 after purchasing an additional 362,145 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Trading Up 1.1 %

Shares of NYSE PDM opened at $9.94 on Friday. Piedmont Office Realty Trust, Inc. has a 1-year low of $8.72 and a 1-year high of $18.38. The company has a market cap of $1.23 billion, a PE ratio of 31.06 and a beta of 0.96. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average of $9.61 and a two-hundred day moving average of $11.03.

Piedmont Office Realty Trust (NYSE:PDMGet Rating) last announced its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.47). Piedmont Office Realty Trust had a return on equity of 2.19% and a net margin of 7.12%. The company had revenue of $144.10 million during the quarter, compared to the consensus estimate of $137.94 million. As a group, equities analysts expect that Piedmont Office Realty Trust, Inc. will post 2 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, November 25th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.45%. The ex-dividend date was Wednesday, November 23rd. Piedmont Office Realty Trust’s dividend payout ratio is presently 262.51%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PDM. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 10th. JPMorgan Chase & Co. dropped their target price on shares of Piedmont Office Realty Trust from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, December 2nd.

Piedmont Office Realty Trust Profile

(Get Rating)

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

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

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