Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,143 shares of the real estate investment trust’s stock after acquiring an additional 6,469 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.10% of Piedmont Office Realty Trust worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PDM. BlackRock Inc. raised its holdings in Piedmont Office Realty Trust by 15.6% during the 1st quarter. BlackRock Inc. now owns 14,932,978 shares of the real estate investment trust’s stock worth $109,011,000 after buying an additional 2,020,595 shares during the period. Norges Bank acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at about $16,164,000. Millennium Management LLC increased its holdings in shares of Piedmont Office Realty Trust by 390.9% in the 4th quarter. Millennium Management LLC now owns 1,887,225 shares of the real estate investment trust’s stock valued at $17,306,000 after purchasing an additional 1,502,757 shares during the period. Private Management Group Inc. increased its holdings in shares of Piedmont Office Realty Trust by 25.7% in the 3rd quarter. Private Management Group Inc. now owns 4,468,246 shares of the real estate investment trust’s stock valued at $25,112,000 after purchasing an additional 913,747 shares during the period. Finally, Wilsey Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 80.5% in the 3rd quarter. Wilsey Asset Management Inc. now owns 1,817,333 shares of the real estate investment trust’s stock valued at $10,213,000 after purchasing an additional 810,728 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Piedmont Office Realty Trust Price Performance

Shares of PDM opened at $6.53 on Tuesday. The company has a market capitalization of $808.38 million, a price-to-earnings ratio of -16.31 and a beta of 1.15. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $8.05. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.49 and a quick ratio of 1.49. The business’s 50-day moving average is $6.50 and its 200-day moving average is $6.40.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.65). The firm had revenue of $145.33 million during the quarter, compared to the consensus estimate 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%. Equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.51 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were paid a $0.125 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.50 annualized dividend and a dividend yield of 7.66%. Piedmont Office Realty Trust’s payout ratio is -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.