Campbell & CO Investment Adviser LLC acquired a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,272 shares of the real estate investment trust’s stock, valued at approximately $277,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Quadrant Capital Group LLC bought a new position in shares of Piedmont Office Realty Trust during the first quarter valued at approximately $25,000. Legacy Bridge LLC acquired a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at $28,000. Capital Investment Advisory Services LLC acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at $43,000. Quantamental Technologies LLC acquired a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at $200,000. Finally, Virtu Financial LLC acquired a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at $207,000. 84.47% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $22.00.
Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.05). The business had revenue of $132.90 million during the quarter, compared to analysts’ expectations of $120.78 million. Piedmont Office Realty Trust had a net margin of 23.19% and a return on equity of 7.10%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. As a group, analysts expect that Piedmont Office Realty Trust, Inc. will post 1.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 31st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.21%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 48.55%.
About Piedmont Office Realty Trust
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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