Piedmont Office Realty Trust, Inc. (PDM) Position Lowered by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 168,166 shares of the real estate investment trust’s stock after selling 13,272 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of Piedmont Office Realty Trust worth $3,545,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. First Heartland Consultants Inc. increased its holdings in Piedmont Office Realty Trust by 0.3% in the first quarter. First Heartland Consultants Inc. now owns 11,187 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 33 shares during the last quarter. National Planning Corp increased its holdings in Piedmont Office Realty Trust by 1.4% in the second quarter. National Planning Corp now owns 14,574 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 200 shares during the last quarter. Utah Retirement Systems increased its holdings in Piedmont Office Realty Trust by 0.7% in the first quarter. Utah Retirement Systems now owns 41,360 shares of the real estate investment trust’s stock valued at $884,000 after buying an additional 300 shares during the last quarter. SG Americas Securities LLC increased its holdings in Piedmont Office Realty Trust by 4.7% in the second quarter. SG Americas Securities LLC now owns 8,060 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 364 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Piedmont Office Realty Trust by 2.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,680 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 396 shares during the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://transcriptdaily.com/2017/10/08/piedmont-office-realty-trust-inc-pdm-position-lowered-by-alliancebernstein-l-p.html.

Piedmont Office Realty Trust, Inc. (PDM) opened at 20.25 on Friday. The stock’s 50 day moving average price is $20.15 and its 200 day moving average price is $21.01. Piedmont Office Realty Trust, Inc. has a 12-month low of $18.61 and a 12-month high of $23.08. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 52.60 and a beta of 0.60.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $148.70 million during the quarter, compared to analyst estimates of $147.66 million. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. On average, equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Wednesday, August 23rd. Piedmont Office Realty Trust’s payout ratio is 221.06%.

Several brokerages recently weighed in on PDM. BidaskClub raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, July 5th. ValuEngine lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $21.00 price objective on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.00.

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.

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

Receive News & Ratings for Piedmont Office Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply