Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Denali Advisors LLC

Denali Advisors LLC lowered its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 33.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,000 shares of the real estate investment trust’s stock after selling 25,500 shares during the quarter. Denali Advisors LLC’s holdings in Piedmont Office Realty Trust were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sigma Planning Corp purchased a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at $71,000. Adero Partners LLC purchased a new position in shares of Piedmont Office Realty Trust during the fourth quarter worth about $72,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Piedmont Office Realty Trust during the third quarter worth about $89,000. Scharf Investments LLC purchased a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at about $94,000. Finally, Inceptionr LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at about $98,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, June 29th.

Piedmont Office Realty Trust Stock Performance

PDM stock opened at $7.38 on Thursday. The company has a fifty day moving average price of $7.09 and a 200 day moving average price of $6.87. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.23. Piedmont Office Realty Trust, Inc. has a 12 month low of $4.91 and a 12 month high of $8.05.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.61). Piedmont Office Realty Trust had a negative net margin of 12.90% and a negative return on equity of 4.29%. The business had revenue of $144.54 million during the quarter, compared to analyst estimates of $143.41 million. Equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 6.78%. The ex-dividend date was Thursday, May 23rd. Piedmont Office Realty Trust’s dividend payout ratio is presently -81.97%.

Piedmont Office Realty Trust Company Profile

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.