Russell Investments Group Ltd. Boosts Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Russell Investments Group Ltd. raised its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 8.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,311,020 shares of the real estate investment trust’s stock after purchasing an additional 97,088 shares during the quarter. Russell Investments Group Ltd. owned 1.04% of Piedmont Office Realty Trust worth $27,373,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. California Public Employees Retirement System boosted its position in shares of Piedmont Office Realty Trust by 8.7% during the 3rd quarter. California Public Employees Retirement System now owns 261,498 shares of the real estate investment trust’s stock worth $5,460,000 after acquiring an additional 20,875 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Piedmont Office Realty Trust by 19.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 168,006 shares of the real estate investment trust’s stock worth $3,508,000 after acquiring an additional 26,920 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Piedmont Office Realty Trust by 11.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 209,471 shares of the real estate investment trust’s stock worth $4,373,000 after acquiring an additional 21,279 shares in the last quarter. Chicago Equity Partners LLC boosted its position in shares of Piedmont Office Realty Trust by 51.2% during the 3rd quarter. Chicago Equity Partners LLC now owns 261,010 shares of the real estate investment trust’s stock worth $5,450,000 after acquiring an additional 88,345 shares in the last quarter. Finally, Chartwell Investment Partners LLC boosted its position in shares of Piedmont Office Realty Trust by 55.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 745,469 shares of the real estate investment trust’s stock worth $15,565,000 after acquiring an additional 265,824 shares in the last quarter. Institutional investors own 86.36% of the company’s stock.

PDM opened at $21.86 on Friday. The business has a 50 day moving average price of $20.97 and a two-hundred day moving average price of $20.49. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.77 billion, a PE ratio of 12.64 and a beta of 0.68. Piedmont Office Realty Trust, Inc. has a 52 week low of $16.43 and a 52 week high of $22.58.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.38). The company had revenue of $135.46 million for the quarter, compared to analysts’ expectations of $127.16 million. Piedmont Office Realty Trust had a net margin of 20.92% and a return on equity of 6.58%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, November 29th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.84%. The ex-dividend date is Wednesday, November 27th. Piedmont Office Realty Trust’s dividend payout ratio is presently 48.55%.

PDM has been the subject of several analyst reports. Robert W. Baird set a $25.00 price objective on Piedmont Office Realty Trust and gave the stock a “hold” rating in a research report on Wednesday, August 21st. DA Davidson cut Piedmont Office Realty Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 23rd. ValuEngine cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.33.

Piedmont Office Realty Trust 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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