Jennison Associates LLC Has $1.43 Million Stock Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Jennison Associates LLC raised its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 39.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,862 shares of the real estate investment trust’s stock after buying an additional 57,039 shares during the period. Jennison Associates LLC owned about 0.16% of Piedmont Office Realty Trust worth $1,428,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PDM. Private Management Group Inc. grew its holdings in Piedmont Office Realty Trust by 25.7% during the 3rd 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 in the last quarter. Glenmede Trust Co. NA raised its holdings in Piedmont Office Realty Trust by 86.6% during the third quarter. Glenmede Trust Co. NA now owns 1,695,612 shares of the real estate investment trust’s stock worth $9,529,000 after purchasing an additional 786,699 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Piedmont Office Realty Trust by 111.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,035,019 shares of the real estate investment trust’s stock worth $5,817,000 after purchasing an additional 546,165 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Piedmont Office Realty Trust by 67.4% during the third quarter. AQR Capital Management LLC now owns 1,172,355 shares of the real estate investment trust’s stock worth $6,589,000 after purchasing an additional 471,945 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Piedmont Office Realty Trust during the third quarter worth about $1,666,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM opened at $6.71 on Friday. Piedmont Office Realty Trust, Inc. has a 52 week low of $4.91 and a 52 week high of $8.05. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.19. The company’s fifty day moving average is $6.50 and its 200 day moving average is $6.47.

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

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.50 annualized dividend and a dividend yield of 7.45%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -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.