Neuburgh Advisers LLC Decreases Stake in Piedmont Office Realty Trust, Inc. (PDM)

Neuburgh Advisers LLC lowered its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 75.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,088 shares of the real estate investment trust’s stock after selling 16,064 shares during the period. Neuburgh Advisers LLC’s holdings in Piedmont Office Realty Trust were worth $109,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PDM. Sei Investments Co. raised its stake in shares of Piedmont Office Realty Trust by 5.7% in the first quarter. Sei Investments Co. now owns 725,430 shares of the real estate investment trust’s stock worth $15,510,000 after buying an additional 38,922 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Piedmont Office Realty Trust during the first quarter worth $652,000. UBS Asset Management Americas Inc. raised its stake in shares of Piedmont Office Realty Trust by 18.4% in the first quarter. UBS Asset Management Americas Inc. now owns 328,677 shares of the real estate investment trust’s stock worth $7,027,000 after buying an additional 51,147 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Piedmont Office Realty Trust by 34.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,664 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 2,755 shares during the period. Finally, Suntrust Banks Inc. purchased a new stake in shares of Piedmont Office Realty Trust during the first quarter worth $2,133,000. 86.85% of the stock is owned by hedge funds and other institutional investors.

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

Piedmont Office Realty Trust, Inc. (NYSE PDM) opened at 21.34 on Friday. Piedmont Office Realty Trust, Inc. has a 52 week low of $18.61 and a 52 week high of $23.08. The company’s 50-day moving average price is $21.45 and its 200 day moving average price is $21.44. The stock has a market capitalization of $3.10 billion, a P/E ratio of 29.68 and a beta of 0.61.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.34. Piedmont Office Realty Trust had a net margin of 19.89% and a return on equity of 5.26%. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $145.35 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts expect that Piedmont Office Realty Trust, Inc. will post $0.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Wednesday, May 24th. Piedmont Office Realty Trust’s dividend payout ratio is presently 109.09%.

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A number of equities research analysts have weighed in on PDM shares. Zacks Investment Research lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. BidaskClub raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday.

In other Piedmont Office Realty Trust news, CAO Laura P. Moon sold 7,800 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $21.64, for a total value of $168,792.00. Following the sale, the chief accounting officer now directly owns 24,620 shares in the company, valued at $532,776.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.76% of the stock is owned by company insiders.

About Piedmont Office Realty Trust

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.

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