Quantitative Systematic Strategies LLC lessened its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 60.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,614 shares of the real estate investment trust’s stock after selling 86,598 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Piedmont Office Realty Trust were worth $1,046,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bbva USA acquired a new stake in shares of Piedmont Office Realty Trust during the second quarter worth $27,000. Berman Capital Advisors LLC purchased a new position in Piedmont Office Realty Trust in the first quarter valued at about $30,000. Lazard Asset Management LLC bought a new stake in shares of Piedmont Office Realty Trust during the 1st quarter worth about $38,000. Point72 Hong Kong Ltd acquired a new position in shares of Piedmont Office Realty Trust during the 1st quarter worth about $56,000. Finally, Pflug Koory LLC acquired a new position in shares of Piedmont Office Realty Trust during the 2nd quarter worth about $86,000. 81.03% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on PDM. TheStreet lowered Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research note on Friday, July 30th. Zacks Investment Research downgraded Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, August 31st.
Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, July 28th. The real estate investment trust reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04. Piedmont Office Realty Trust had a net margin of 9.73% and a return on equity of 2.68%. The business had revenue of $130.22 million for the quarter, compared to analysts’ expectations of $127.57 million. Research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, August 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Thursday, August 26th. Piedmont Office Realty Trust’s dividend payout ratio is currently 44.44%.
In related news, insider Christopher Brent Smith purchased 2,800 shares of Piedmont Office Realty Trust stock in a transaction that occurred on Friday, September 3rd. The shares were bought at an average price of $17.63 per share, for a total transaction of $49,364.00. Following the completion of the transaction, the insider now directly owns 136,378 shares of the company’s stock, valued at $2,404,344.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.91% of the company’s stock.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc engages in the owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. . Its activities include acquisition, investment, development, management, disposing, and ownership of commercial real estate properties throughout the United States.
Further Reading: Key terms to understand channel trading
Want to see what other hedge funds are holding PDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piedmont Office Realty Trust, Inc. (NYSE:PDM).
Receive News & Ratings for Piedmont Office Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.