Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 68.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,164 shares of the real estate investment trust’s stock after selling 84,759 shares during the quarter. Wolverine Asset Management LLC’s holdings in Piedmont Office Realty Trust were worth $278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter valued at about $60,000. Accel Wealth Management acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter valued at about $65,000. Sigma Planning Corp acquired a new stake in Piedmont Office Realty Trust in the 4th quarter valued at about $71,000. Mackenzie Financial Corp acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter valued at about $74,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter valued at about $89,000. 84.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Piedmont Office Realty Trust Price Performance

Shares of NYSE PDM opened at $6.71 on Friday. The stock has a market cap of $831.30 million, a price-to-earnings ratio of -16.77 and a beta of 1.15. Piedmont Office Realty Trust, Inc. has a 52 week low of $4.91 and a 52 week high of $8.05. The company’s 50-day moving average price is $6.50 and its 200 day moving average price is $6.48. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.19.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.65). The firm 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, research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.51 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 7.45%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -125.00%.

Piedmont Office Realty Trust 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.