Shell Asset Management Co. Reduces Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Shell Asset Management Co. lowered its position in Piedmont Office Realty Trust, Inc. (NYSE:PDMFree Report) by 7.8% during the third quarter, Holdings Channel.com reports. The fund owned 24,210 shares of the real estate investment trust’s stock after selling 2,061 shares during the quarter. Shell Asset Management Co.’s holdings in Piedmont Office Realty Trust were worth $136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDM. Vanguard Group Inc. increased its position in shares of Piedmont Office Realty Trust by 2.8% during the first quarter. Vanguard Group Inc. now owns 19,626,841 shares of the real estate investment trust’s stock worth $337,974,000 after acquiring an additional 534,136 shares during the last quarter. BlackRock Inc. increased its position in shares of Piedmont Office Realty Trust by 7.1% during the second quarter. BlackRock Inc. now owns 15,988,494 shares of the real estate investment trust’s stock worth $116,236,000 after acquiring an additional 1,055,516 shares during the last quarter. State Street Corp increased its position in shares of Piedmont Office Realty Trust by 1.4% during the first quarter. State Street Corp now owns 6,227,041 shares of the real estate investment trust’s stock worth $45,457,000 after acquiring an additional 85,434 shares during the last quarter. LSV Asset Management increased its position in shares of Piedmont Office Realty Trust by 6.9% during the second quarter. LSV Asset Management now owns 4,559,994 shares of the real estate investment trust’s stock worth $33,151,000 after acquiring an additional 295,400 shares during the last quarter. Finally, Private Management Group Inc. increased its position in shares of Piedmont Office Realty Trust by 25.7% during the third quarter. Private Management Group Inc. now owns 4,468,246 shares of the real estate investment trust’s stock worth $25,112,000 after acquiring an additional 913,747 shares during the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd.

Check Out Our Latest Stock Analysis on Piedmont Office Realty Trust

Piedmont Office Realty Trust Price Performance

NYSE:PDM opened at $6.89 on Tuesday. Piedmont Office Realty Trust, Inc. has a one year low of $4.91 and a one year high of $10.66. The stock has a 50-day simple moving average of $7.03 and a 200 day simple moving average of $6.44. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.16.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 23rd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.50 dividend on an annualized basis and a yield of 7.26%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -125.00%.

About Piedmont Office Realty Trust

(Free Report)

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 major U.S. Sunbelt markets. Its approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody's (Baa2).

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Want to see what other hedge funds are holding PDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piedmont Office Realty Trust, Inc. (NYSE:PDMFree Report).

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

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