WBI Investments Inc. Takes $7.50 Million Position in Piedmont Office Realty Trust, Inc. (PDM)

WBI Investments Inc. acquired a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 355,702 shares of the real estate investment trust’s stock, valued at approximately $7,498,000. WBI Investments Inc. owned about 0.24% of Piedmont Office Realty Trust as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Piedmont Office Realty Trust during the 1st quarter worth $164,000. SG Americas Securities LLC lifted its position in shares of Piedmont Office Realty Trust by 31.5% during the 1st quarter. SG Americas Securities LLC now owns 7,696 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 1,843 shares during the last quarter. Blue Sky Asset Management LLC bought a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter worth $173,000. TLP Group LLC bought a new stake in shares of Piedmont Office Realty Trust during the 1st quarter worth $177,000. Finally, Private Advisor Group LLC bought a new stake in shares of Piedmont Office Realty Trust during the 1st quarter worth $216,000. Institutional investors and hedge funds own 82.75% of the company’s stock.

Shares of Piedmont Office Realty Trust, Inc. (PDM) traded up 0.39% during trading on Tuesday, reaching $20.38. The company’s stock had a trading volume of 196,701 shares. Piedmont Office Realty Trust, Inc. has a 12-month low of $18.61 and a 12-month high of $23.08. The stock has a market cap of $2.97 billion, a P/E ratio of 52.94 and a beta of 0.61. The stock’s 50-day moving average is $20.35 and its 200-day moving average is $21.24.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Piedmont Office Realty Trust had a return on equity of 2.67% and a net margin of 9.71%. The firm had revenue of $148.70 million during the quarter, compared to analyst estimates of $147.66 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 221.06%.

Several analysts recently weighed in on PDM shares. BidaskClub upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine cut Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, July 5th. Finally, Robert W. Baird raised Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $23.00 to $24.00 in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.83.

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About Piedmont Office Realty Trust

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

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