ARP Americas LP Acquires New Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

ARP Americas LP acquired a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,300 shares of the real estate investment trust’s stock, valued at approximately $470,000.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Piedmont Office Realty Trust by 0.4% during the 1st quarter. BlackRock Inc. now owns 12,322,511 shares of the real estate investment trust’s stock worth $217,615,000 after acquiring an additional 50,326 shares during the period. State Street Corp boosted its position in Piedmont Office Realty Trust by 2.1% during the 1st quarter. State Street Corp now owns 5,450,200 shares of the real estate investment trust’s stock worth $96,251,000 after acquiring an additional 110,213 shares during the period. Geode Capital Management LLC boosted its position in Piedmont Office Realty Trust by 10.5% during the 1st quarter. Geode Capital Management LLC now owns 2,374,155 shares of the real estate investment trust’s stock worth $41,927,000 after acquiring an additional 225,069 shares during the period. Nuveen Asset Management LLC boosted its position in Piedmont Office Realty Trust by 36.5% during the 1st quarter. Nuveen Asset Management LLC now owns 1,729,431 shares of the real estate investment trust’s stock worth $30,542,000 after acquiring an additional 462,752 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Piedmont Office Realty Trust by 18.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,702,025 shares of the real estate investment trust’s stock worth $30,058,000 after acquiring an additional 266,654 shares during the period. Institutional investors and hedge funds own 84.39% of the company’s stock.

PDM has been the subject of a number of analyst reports. ValuEngine lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, April 21st. SunTrust Banks dropped their price objective on Piedmont Office Realty Trust from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Robert W. Baird boosted their price objective on Piedmont Office Realty Trust from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, July 16th. One equities research 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. The stock has an average rating of “Hold” and an average price target of $19.25.

Shares of PDM traded down $0.05 during midday trading on Friday, reaching $16.21. The stock had a trading volume of 965,186 shares, compared to its average volume of 741,754. Piedmont Office Realty Trust, Inc. has a 52 week low of $12.85 and a 52 week high of $24.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.77. The firm’s 50 day moving average price is $16.25 and its 200-day moving average price is $18.55. The company has a market capitalization of $2.04 billion, a P/E ratio of 5.49 and a beta of 0.74.

Piedmont Office Realty Trust (NYSE:PDM) last posted 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 return on equity of 20.58% and a net margin of 68.72%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.93 earnings per share for the current year.

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

In related news, Director Glenn Gary Cohen bought 5,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were bought at an average cost of $16.07 per share, with a total value of $80,350.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $80,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dale H. Taysom bought 2,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $14.14 per share, for a total transaction of $28,280.00. Following the completion of the transaction, the director now directly owns 23,137 shares of the company’s stock, valued at $327,157.18. The disclosure for this purchase can be found here. 0.71% of the stock is owned by insiders.

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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