Jupiter Asset Management Ltd. Trims Stock Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Jupiter Asset Management Ltd. lessened its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 483,287 shares of the real estate investment trust’s stock after selling 50,400 shares during the period. Jupiter Asset Management Ltd.’s holdings in Piedmont Office Realty Trust were worth $8,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Berman Capital Advisors LLC purchased a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at about $30,000. Concord Wealth Partners purchased a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at about $30,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at about $46,000. Neo Ivy Capital Management purchased a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at about $46,000. Finally, Van ECK Associates Corp lifted its stake in shares of Piedmont Office Realty Trust by 33.2% during the fourth quarter. Van ECK Associates Corp now owns 5,070 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 1,264 shares during the period. 82.00% of the stock is currently owned by institutional investors.

Shares of PDM opened at $20.26 on Friday. Piedmont Office Realty Trust, Inc. has a 1 year low of $11.26 and a 1 year high of $20.27. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 0.88. The firm’s 50 day moving average price is $18.42. The stock has a market capitalization of $2.51 billion, a P/E ratio of 10.95 and a beta of 1.04.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, April 28th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.39). Piedmont Office Realty Trust had a return on equity of 12.18% and a net margin of 44.26%. The company had revenue of $129.30 million for the quarter, compared to analyst estimates of $130.86 million. During the same period last year, the company posted $0.47 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Investors of record on Friday, May 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, May 27th. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 44.44%.

Several brokerages recently issued reports on PDM. Zacks Investment Research downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Saturday, February 20th. TheStreet raised shares of Piedmont Office Realty Trust from a “c+” rating to a “b-” rating in a research note on Monday, March 15th.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

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

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