ARP Americas LP Purchases Shares of 28,300 Piedmont Office Realty Trust, Inc. (NYSE:PDM)

ARP Americas LP purchased a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 28,300 shares of the real estate investment trust’s stock, valued at approximately $470,000.

A number of other institutional investors have also recently bought and sold shares of PDM. Van ECK Associates Corp raised its holdings in shares of Piedmont Office Realty Trust by 108.7% in the 1st quarter. Van ECK Associates Corp now owns 1,532 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 798 shares in the last quarter. Strs Ohio raised its holdings in shares of Piedmont Office Realty Trust by 0.3% in the 2nd quarter. Strs Ohio now owns 389,304 shares of the real estate investment trust’s stock worth $6,466,000 after buying an additional 1,146 shares in the last quarter. Eii Capital Management Inc. raised its holdings in shares of Piedmont Office Realty Trust by 6.4% in the 2nd quarter. Eii Capital Management Inc. now owns 19,192 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,156 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Piedmont Office Realty Trust by 0.5% in the 1st quarter. Alliancebernstein L.P. now owns 247,543 shares of the real estate investment trust’s stock worth $4,372,000 after buying an additional 1,180 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter worth approximately $6,939,000. 84.39% of the stock is owned by hedge funds and other institutional investors.

PDM has been the subject of a number of recent research reports. Robert W. Baird increased their target price on Piedmont Office Realty Trust from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. SunTrust Banks decreased their price target on Piedmont Office Realty Trust from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Zacks Investment Research upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, July 16th. Finally, ValuEngine lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.25.

In other news, Director Dale H. Taysom acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $14.14 per share, for a total transaction of $28,280.00. Following the transaction, the director now owns 23,137 shares of the company’s stock, valued at $327,157.18. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glenn Gary Cohen purchased 5,000 shares of Piedmont Office Realty Trust stock in a transaction dated Monday, May 4th. The stock was bought at an average price of $16.07 per share, for a total transaction of $80,350.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $80,350. The disclosure for this purchase can be found here. 0.71% of the stock is currently owned by company insiders.

NYSE PDM traded down $0.05 during trading hours on Friday, reaching $16.21. 965,186 shares of the company’s stock were exchanged, compared to its average volume of 741,754. The stock has a market cap of $2.04 billion, a PE ratio of 5.49 and a beta of 0.74. The company has a current ratio of 2.03, a quick ratio of 1.77 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average of $16.25 and a 200-day moving average of $18.55. Piedmont Office Realty Trust, Inc. has a one year low of $12.85 and a one year high of $24.78.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). The firm had revenue of $137.20 million during the quarter, compared to the consensus estimate of $121.05 million. Piedmont Office Realty Trust had a net margin of 68.72% and a return on equity of 20.58%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be given a $0.21 dividend. The ex-dividend date is Thursday, August 27th. This represents a $0.84 dividend on an annualized basis and a yield of 5.18%. Piedmont Office Realty Trust’s payout ratio is 46.93%.

Piedmont Office Realty Trust Company 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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