Christopher Brent Smith Purchases 2,800 Shares of Piedmont Office Realty Trust, Inc. (PDM) Stock

Piedmont Office Realty Trust, Inc. (NYSE:PDM) insider Christopher Brent Smith purchased 2,800 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $17.80 per share, for a total transaction of $49,840.00. Following the transaction, the insider now owns 53,027 shares of the company’s stock, valued at $943,880.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Piedmont Office Realty Trust, Inc. (PDM) traded down $0.08 during trading on Wednesday, reaching $18.18. 1,523,998 shares of the company were exchanged, compared to its average volume of 1,464,206. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.78. The company has a market cap of $2,562.46, a price-to-earnings ratio of 19.61, a PEG ratio of 2.69 and a beta of 0.55. Piedmont Office Realty Trust, Inc. has a twelve month low of $17.45 and a twelve month high of $23.08.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Thursday, February 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 91.30%.

Institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new stake in Piedmont Office Realty Trust during the 3rd quarter worth approximately $135,000. Wealthcare Advisory Partners LLC bought a new stake in Piedmont Office Realty Trust during the 3rd quarter worth approximately $144,000. PNC Financial Services Group Inc. increased its holdings in Piedmont Office Realty Trust by 19.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 1,404 shares during the period. Allianz Asset Management GmbH bought a new stake in Piedmont Office Realty Trust during the 3rd quarter worth approximately $205,000. Finally, Dean Capital Investments Management LLC purchased a new position in Piedmont Office Realty Trust in the 4th quarter worth approximately $202,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

PDM has been the topic of several research reports. Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Stifel Nicolaus reissued a “hold” rating on shares of Piedmont Office Realty Trust in a research report on Friday, February 9th. SunTrust Banks set a $21.00 price target on shares of Piedmont Office Realty Trust and gave the company a “hold” rating in a research report on Monday, January 22nd. Robert W. Baird set a $22.00 price target on shares of Piedmont Office Realty Trust and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, ValuEngine lowered shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $21.50.

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Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

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