Citadel Advisors LLC increased its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 316.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,142 shares of the real estate investment trust’s stock after purchasing an additional 69,243 shares during the quarter. Citadel Advisors LLC owned 0.06% of Piedmont Office Realty Trust worth $1,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in Piedmont Office Realty Trust by 10.7% during the first quarter. Russell Investments Group Ltd. now owns 177,449 shares of the real estate investment trust’s stock worth $3,795,000 after buying an additional 17,150 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Piedmont Office Realty Trust by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,117,298 shares of the real estate investment trust’s stock valued at $23,887,000 after buying an additional 21,517 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Piedmont Office Realty Trust by 18.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 328,677 shares of the real estate investment trust’s stock valued at $7,027,000 after buying an additional 51,147 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at approximately $652,000. Finally, Ameriprise Financial Inc. raised its position in shares of Piedmont Office Realty Trust by 1,153.5% in the 1st quarter. Ameriprise Financial Inc. now owns 142,495 shares of the real estate investment trust’s stock valued at $3,046,000 after buying an additional 131,127 shares in the last quarter. 82.75% of the stock is owned by institutional investors and hedge funds.

Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) opened at 20.16 on Monday. Piedmont Office Realty Trust, Inc. has a 1-year low of $18.61 and a 1-year high of $23.08. The stock has a 50 day moving average of $20.25 and a 200-day moving average of $21.12. The firm has a market capitalization of $2.93 billion, a P/E ratio of 52.36 and a beta of 0.60.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The firm 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%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities analysts expect that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a $0.21 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.84 annualized dividend and a yield of 4.17%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 221.06%.

Several analysts recently issued reports on the stock. BidaskClub lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Robert W. Baird upgraded shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $23.00 to $24.00 in a research report on Monday, August 28th. Stifel Nicolaus restated a “hold” rating and set a $21.00 target price on shares of Piedmont Office Realty Trust in a research note on Thursday, September 21st. ValuEngine downgraded Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Zacks Investment Research lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.00.

TRADEMARK VIOLATION WARNING: “Citadel Advisors LLC Has $1.92 Million Position in Piedmont Office Realty Trust, Inc. (PDM)” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another domain, it was stolen and republished in violation of US and international copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/02/citadel-advisors-llc-has-1-92-million-position-in-piedmont-office-realty-trust-inc-pdm.html.

Piedmont Office Realty Trust 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.