Skandinaviska Enskilda Banken AB publ lowered its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,300 shares of the real estate investment trust’s stock after selling 1,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Piedmont Office Realty Trust were worth $1,185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PDM. Northwestern Mutual Wealth Management Co. boosted its position in Piedmont Office Realty Trust by 52.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,400 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 484 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new stake in Piedmont Office Realty Trust during the fourth quarter valued at $38,000. Sugarloaf Wealth Management LLC bought a new stake in Piedmont Office Realty Trust during the fourth quarter valued at $39,000. Manchester Financial Inc. bought a new stake in Piedmont Office Realty Trust during the fourth quarter valued at $43,000. Finally, Cornerstone Investment Partners LLC bought a new stake in Piedmont Office Realty Trust during the fourth quarter valued at $211,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of PDM stock traded up $1.27 on Thursday, reaching $17.62. 148,004 shares of the company were exchanged, compared to its average volume of 1,496,437. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 9.65 and a beta of 0.76. The company has a 50-day moving average of $21.32 and a 200-day moving average of $21.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.49 and a quick ratio of 1.49. Piedmont Office Realty Trust, Inc. has a one year low of $13.59 and a one year high of $24.78.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.84. The company had revenue of $134.20 million for the quarter, compared to analysts’ expectations of $134.23 million. Piedmont Office Realty Trust had a net margin of 43.00% and a return on equity of 13.24%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, sell-side analysts predict that Piedmont Office Realty Trust, Inc. will post 1.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, February 28th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.77%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 46.93%.

In related news, Director Jeffrey L. Swope acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average price of $14.93 per share, with a total value of $44,790.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.12% of the stock is owned by corporate insiders.

A number of analysts have commented on the stock. Robert W. Baird raised shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Monday, January 6th. SunTrust Banks increased their price objective on shares of Piedmont Office Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. ValuEngine raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Saturday, February 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.67.

Piedmont Office Realty Trust Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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Institutional Ownership by Quarter for Piedmont Office Realty Trust (NYSE:PDM)

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