Ladenburg Thalmann Financial Services Inc. cut its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,792 shares of the real estate investment trust’s stock after selling 30,723 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.07% of Piedmont Office Realty Trust worth $1,859,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in shares of Piedmont Office Realty Trust in the third quarter valued at $135,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Piedmont Office Realty Trust in the third quarter valued at $144,000. Dean Capital Investments Management LLC acquired a new position in shares of Piedmont Office Realty Trust in the fourth quarter valued at $202,000. Allianz Asset Management GmbH acquired a new position in shares of Piedmont Office Realty Trust in the third quarter valued at $205,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Piedmont Office Realty Trust by 123.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,600 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 6,400 shares in the last quarter. Institutional investors own 88.19% of the company’s stock.
In related news, insider Christopher Brent Smith purchased 2,800 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $17.80 per share, for a total transaction of $49,840.00. Following the completion of the transaction, the insider now directly owns 53,027 shares of the company’s stock, valued at approximately $943,880.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey L. Swope purchased 5,700 shares of the stock in a transaction on Tuesday, March 13th. The stock was bought at an average price of $17.57 per share, for a total transaction of $100,149.00. The disclosure for this purchase can be found here. Corporate insiders own 0.76% of the company’s stock.
Shares of Piedmont Office Realty Trust, Inc. (NYSE PDM) opened at $16.78 on Monday. Piedmont Office Realty Trust, Inc. has a 1 year low of $16.69 and a 1 year high of $22.74. The firm has a market capitalization of $2,266.41, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.85 and a quick ratio of 0.85.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.63). Piedmont Office Realty Trust had a net margin of 23.26% and a return on equity of 1.16%. The company had revenue of $139.44 million during the quarter, compared to the consensus estimate of $136.82 million. equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 23rd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Thursday, February 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 91.30%.
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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