M&G Investment Management Ltd. Has $153,000 Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

M&G Investment Management Ltd. trimmed its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,868 shares of the real estate investment trust’s stock after selling 1,965 shares during the period. M&G Investment Management Ltd.’s holdings in Piedmont Office Realty Trust were worth $153,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Piedmont Office Realty Trust by 261.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 114,674 shares of the real estate investment trust’s stock valued at $644,000 after purchasing an additional 82,915 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Piedmont Office Realty Trust by 19.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,879 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 8,216 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Piedmont Office Realty Trust in the third quarter valued at $74,000. Orion Portfolio Solutions LLC grew its stake in Piedmont Office Realty Trust by 25.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 70,547 shares of the real estate investment trust’s stock valued at $396,000 after buying an additional 14,355 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of Piedmont Office Realty Trust by 20.5% during the third quarter. Bank Pictet & Cie Europe AG now owns 18,951 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 3,222 shares during the period. Institutional investors own 84.48% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd.

Piedmont Office Realty Trust Price Performance

NYSE:PDM traded down $0.14 during mid-day trading on Thursday, reaching $7.20. The stock had a trading volume of 62,028 shares, compared to its average volume of 841,429. Piedmont Office Realty Trust, Inc. has a 12 month low of $4.91 and a 12 month high of $8.05. The stock has a market capitalization of $892.01 million, a PE ratio of -12.03 and a beta of 1.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50-day simple moving average of $6.69 and a two-hundred day simple moving average of $6.64.

Piedmont Office Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.50 annualized dividend and a dividend yield of 6.94%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -81.97%.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.