Bank of America Corp DE Trims Stake in Piedmont Office Realty Trust, Inc. (PDM)

Bank of America Corp DE trimmed its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 622,291 shares of the real estate investment trust’s stock after selling 18,102 shares during the quarter. Bank of America Corp DE owned 0.48% of Piedmont Office Realty Trust worth $12,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PDM. BlackRock Inc. boosted its position in shares of Piedmont Office Realty Trust by 0.7% in the first quarter. BlackRock Inc. now owns 10,591,102 shares of the real estate investment trust’s stock valued at $186,296,000 after acquiring an additional 75,947 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Piedmont Office Realty Trust by 88.7% in the first quarter. JPMorgan Chase & Co. now owns 1,198,843 shares of the real estate investment trust’s stock valued at $21,089,000 after acquiring an additional 563,589 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Piedmont Office Realty Trust by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,462,428 shares of the real estate investment trust’s stock valued at $43,314,000 after acquiring an additional 99,427 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Piedmont Office Realty Trust by 13.5% in the first quarter. BNP Paribas Arbitrage SA now owns 30,819 shares of the real estate investment trust’s stock valued at $542,000 after acquiring an additional 3,674 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at approximately $914,000. 86.52% of the stock is owned by institutional investors.

Shares of NYSE PDM opened at $17.83 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $2.43 billion, a P/E ratio of 10.19, a PEG ratio of 2.78 and a beta of 0.60. Piedmont Office Realty Trust, Inc. has a one year low of $16.69 and a one year high of $20.57.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $129.17 million during the quarter, compared to analyst estimates of $125.15 million. Piedmont Office Realty Trust had a net margin of 30.50% and a return on equity of 2.81%. During the same quarter in the previous year, the company posted $0.46 earnings per share. Equities analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.7 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, August 31st were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.71%. Piedmont Office Realty Trust’s payout ratio is 48.00%.

PDM has been the subject of several research reports. ValuEngine raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. DA Davidson raised Piedmont Office Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $23.00 in a research report on Friday, June 29th. Finally, TheStreet cut Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Piedmont Office Realty Trust presently has a consensus rating of “Hold” and an average price target of $21.25.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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

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