Utah Retirement Systems lowered its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,827 shares of the real estate investment trust’s stock after selling 533 shares during the period. Utah Retirement Systems’ holdings in Piedmont Office Realty Trust were worth $860,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its stake in Piedmont Office Realty Trust by 43.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 53,289 shares of the real estate investment trust’s stock valued at $1,123,000 after purchasing an additional 16,047 shares during the last quarter. American Century Companies Inc. boosted its stake in Piedmont Office Realty Trust by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,265,600 shares of the real estate investment trust’s stock valued at $110,999,000 after purchasing an additional 54,084 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Piedmont Office Realty Trust by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 140,322 shares of the real estate investment trust’s stock valued at $2,958,000 after purchasing an additional 3,211 shares during the last quarter. GAM Holding AG boosted its stake in Piedmont Office Realty Trust by 3.7% during the 2nd quarter. GAM Holding AG now owns 12,292 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 433 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in Piedmont Office Realty Trust by 6.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 353,100 shares of the real estate investment trust’s stock valued at $7,443,000 after purchasing an additional 22,000 shares during the last quarter. Institutional investors own 82.75% of the company’s stock.

Shares of Piedmont Office Realty Trust, Inc. (PDM) opened at 20.11 on Monday. The firm’s 50-day moving average price is $20.36 and its 200 day moving average price is $21.27. Piedmont Office Realty Trust, Inc. has a 52 week low of $18.61 and a 52 week high of $23.08. The stock has a market capitalization of $2.93 billion, a P/E ratio of 52.23 and a beta of 0.61.

Piedmont Office Realty Trust (NYSE:PDM) last released 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 net margin of 9.71% and a return on equity of 2.67%. The business had revenue of $148.70 million for the quarter, compared to analyst estimates of $147.66 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current 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 issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.18%. The ex-dividend date is Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio is currently 221.06%.

Several analysts have commented on the company. Robert W. Baird upgraded Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and increased their target price for the company from $23.00 to $24.00 in a research note on Monday, August 28th. BidaskClub downgraded Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. ValuEngine upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research downgraded Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.83.

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

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