Martingale Asset Management L P Grows Holdings in Piedmont Office Realty Trust, Inc. (PDM)

Martingale Asset Management L P boosted its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 16.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 935,896 shares of the real estate investment trust’s stock after acquiring an additional 130,161 shares during the period. Martingale Asset Management L P owned about 0.64% of Piedmont Office Realty Trust worth $19,730,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PDM. BlackRock Inc. grew its stake in Piedmont Office Realty Trust by 3,921.0% in the 1st quarter. BlackRock Inc. now owns 9,609,860 shares of the real estate investment trust’s stock worth $205,459,000 after acquiring an additional 9,370,868 shares during the period. Systematic Financial Management LP grew its stake in Piedmont Office Realty Trust by 374.8% in the 1st quarter. Systematic Financial Management LP now owns 1,492,017 shares of the real estate investment trust’s stock worth $31,899,000 after acquiring an additional 1,177,792 shares during the period. Vanguard Group Inc. grew its stake in Piedmont Office Realty Trust by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 23,021,266 shares of the real estate investment trust’s stock worth $492,194,000 after acquiring an additional 511,212 shares during the period. State Street Corp grew its stake in Piedmont Office Realty Trust by 4.5% in the 1st quarter. State Street Corp now owns 4,777,715 shares of the real estate investment trust’s stock worth $102,146,000 after acquiring an additional 205,578 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Piedmont Office Realty Trust by 99.5% in the 1st quarter. Principal Financial Group Inc. now owns 311,167 shares of the real estate investment trust’s stock worth $6,653,000 after acquiring an additional 155,159 shares during the period. 82.75% of the stock is owned by hedge funds and other institutional investors.

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Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) traded up 0.30% during trading on Friday, hitting $20.36. 1,134,858 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $20.29 and its 200 day moving average is $21.18. 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 market capitalization of $2.96 billion, a PE ratio of 52.88 and a beta of 0.61.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ 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 company’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 business earned $0.40 EPS. On average, equities research analysts forecast that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were paid a $0.21 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.84 annualized dividend and a yield of 4.13%. Piedmont Office Realty Trust’s dividend payout ratio is presently 221.06%.

PDM has been the subject of several recent analyst reports. ValuEngine raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, July 5th. BidaskClub raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Robert W. Baird raised shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $23.00 to $24.00 in a research note on Monday, August 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Piedmont Office Realty Trust presently has a consensus rating of “Hold” and an average price target of $22.83.

Piedmont Office Realty Trust Company 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)

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