MML Investors Services LLC lessened its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,620 shares of the real estate investment trust’s stock after selling 148 shares during the quarter. MML Investors Services LLC’s holdings in Piedmont Office Realty Trust were worth $203,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. LSV Asset Management raised its stake in Piedmont Office Realty Trust by 1.4% during the 2nd quarter. LSV Asset Management now owns 6,801,281 shares of the real estate investment trust’s stock worth $143,370,000 after buying an additional 95,600 shares during the period. American Century Companies Inc. raised 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 worth $110,999,000 after buying an additional 54,084 shares during the period. Paragon Capital Management Ltd acquired a new stake in Piedmont Office Realty Trust during the 2nd quarter worth $246,000. AQR Capital Management LLC raised its stake in Piedmont Office Realty Trust by 17.8% during the 1st quarter. AQR Capital Management LLC now owns 190,109 shares of the real estate investment trust’s stock worth $4,065,000 after buying an additional 28,664 shares during the period. Finally, Geode Capital Management LLC raised its stake in Piedmont Office Realty Trust by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 1,446,915 shares of the real estate investment trust’s stock worth $30,935,000 after buying an additional 97,659 shares during the period. 82.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of Piedmont Office Realty Trust, Inc. (PDM) opened at 20.30 on Thursday. The firm has a market cap of $2.95 billion, a P/E ratio of 52.73 and a beta of 0.60. Piedmont Office Realty Trust, Inc. has a 1-year low of $18.61 and a 1-year high of $23.08. The firm has a 50 day moving average price of $20.15 and a 200 day moving average price of $21.02.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the 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 firm had revenue of $148.70 million for the quarter, compared to analyst estimates of $147.66 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Piedmont Office Realty Trust, Inc. will post $0.50 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.84 annualized dividend and a dividend yield of 4.14%. Piedmont Office Realty Trust’s dividend payout ratio is currently 221.06%.

Several analysts recently commented on PDM shares. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Wednesday, July 5th. BidaskClub raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $21.00 price objective on shares of Piedmont Office Realty Trust in a research note on Thursday, September 21st. Finally, Robert W. Baird raised Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $23.00 to $24.00 in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.00.

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About Piedmont Office Realty Trust

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)

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