First Trust Advisors LP cut its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 63.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,666 shares of the real estate investment trust’s stock after selling 306,455 shares during the quarter. First Trust Advisors LP owned 0.12% of Piedmont Office Realty Trust worth $3,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PDM. BlackRock Inc. increased its holdings in shares of Piedmont Office Realty Trust by 3,921.0% during the first quarter. BlackRock Inc. now owns 9,609,860 shares of the real estate investment trust’s stock worth $205,459,000 after purchasing an additional 9,370,868 shares during the period. Systematic Financial Management LP boosted its position in shares of Piedmont Office Realty Trust by 374.8% during the 1st quarter. Systematic Financial Management LP now owns 1,492,017 shares of the real estate investment trust’s stock worth $31,899,000 after acquiring an additional 1,177,792 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Piedmont Office Realty Trust by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 23,021,266 shares of the real estate investment trust’s stock worth $492,194,000 after acquiring an additional 511,212 shares in the last quarter. State Street Corp boosted its position in shares of Piedmont Office Realty Trust by 4.5% during the 1st quarter. State Street Corp now owns 4,777,715 shares of the real estate investment trust’s stock worth $102,146,000 after acquiring an additional 205,578 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Piedmont Office Realty Trust by 99.5% during the 1st quarter. Principal Financial Group Inc. now owns 311,167 shares of the real estate investment trust’s stock worth $6,653,000 after acquiring an additional 155,159 shares in the last quarter. 82.75% of the stock is currently owned by institutional investors.

Several analysts recently issued reports on PDM shares. BidaskClub lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, July 5th. ValuEngine lowered shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Robert W. Baird upgraded shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $23.00 to $24.00 in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $22.83.

TRADEMARK VIOLATION WARNING: “First Trust Advisors LP Sells 306,455 Shares of Piedmont Office Realty Trust, Inc. (PDM)” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/04/first-trust-advisors-lp-sells-306455-shares-of-piedmont-office-realty-trust-inc-pdm.html.

Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) opened at 20.33 on Monday. Piedmont Office Realty Trust, Inc. has a 52-week low of $18.61 and a 52-week high of $23.08. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 52.81 and a beta of 0.61. The company’s 50 day moving average is $20.44 and its 200 day moving average is $21.33.

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

The business 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 $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.84 dividend on an annualized basis and a yield of 4.13%. Piedmont Office Realty Trust’s dividend payout ratio is presently 221.06%.

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.

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

Receive News & Stock Ratings for Piedmont Office Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust Inc. and related stocks with our FREE daily email newsletter.