DekaBank Deutsche Girozentrale Reduces Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

DekaBank Deutsche Girozentrale cut its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,395 shares of the real estate investment trust’s stock after selling 5,258 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Piedmont Office Realty Trust were worth $200,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PDM. Raymond James & Associates increased its holdings in shares of Piedmont Office Realty Trust by 13.7% during the first quarter. Raymond James & Associates now owns 41,464 shares of the real estate investment trust’s stock valued at $714,000 after acquiring an additional 5,007 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in Piedmont Office Realty Trust by 15.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 18,036 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 2,368 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Piedmont Office Realty Trust by 201.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,129 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 9,442 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Piedmont Office Realty Trust by 56.4% in the first quarter. MetLife Investment Management LLC now owns 64,184 shares of the real estate investment trust’s stock worth $1,105,000 after buying an additional 23,137 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Piedmont Office Realty Trust by 1.4% during the first quarter. Great West Life Assurance Co. Can now owns 110,448 shares of the real estate investment trust’s stock worth $1,974,000 after buying an additional 1,550 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd.

Piedmont Office Realty Trust Stock Down 2.3 %

Shares of PDM stock opened at $6.37 on Wednesday. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $8.05. The firm has a market capitalization of $789.18 million, a PE ratio of -15.92 and a beta of 1.15. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50-day simple moving average is $6.49 and its 200-day simple moving average is $6.41.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.65). Piedmont Office Realty Trust had a negative net margin of 8.38% and a negative return on equity of 2.72%. The firm had revenue of $145.33 million during the quarter, compared to analysts’ expectations of $146.37 million. Equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.51 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a $0.125 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.85%. Piedmont Office Realty Trust’s payout ratio is currently -125.00%.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (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. 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 Standard & Poor's and Moody's.