State Street Corp Sells 41,519 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

State Street Corp reduced its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,476,694 shares of the real estate investment trust’s stock after selling 41,519 shares during the period. State Street Corp owned 4.42% of Piedmont Office Realty Trust worth $55,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Piedmont Office Realty Trust by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust’s stock worth $12,467,000 after buying an additional 14,831 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Piedmont Office Realty Trust by 4.3% in the third quarter. Systematic Financial Management LP now owns 1,162,619 shares of the real estate investment trust’s stock valued at $11,742,000 after acquiring an additional 47,783 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Piedmont Office Realty Trust by 47.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock valued at $10,802,000 after acquiring an additional 344,694 shares during the last quarter. Marshall Wace LLP lifted its holdings in Piedmont Office Realty Trust by 7,041.3% during the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after acquiring an additional 901,292 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Piedmont Office Realty Trust by 358.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust’s stock worth $9,050,000 after purchasing an additional 700,616 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their target price on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Piedmont Office Realty Trust Price Performance

Piedmont Office Realty Trust stock opened at $8.74 on Thursday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.36. The business’s 50 day simple moving average is $9.84 and its 200 day simple moving average is $9.03. Piedmont Office Realty Trust, Inc. has a 12 month low of $5.93 and a 12 month high of $11.11. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -14.10 and a beta of 1.20.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). The firm had revenue of $139.29 million during the quarter, compared to the consensus estimate of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend is Friday, November 22nd. Piedmont Office Realty Trust’s payout ratio is currently -80.65%.

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.