StockNews.com Begins Coverage on Piedmont Office Realty Trust (NYSE:PDM)

StockNews.com assumed coverage on shares of Piedmont Office Realty Trust (NYSE:PDMGet Rating) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

Separately, JPMorgan Chase & Co. dropped their price objective on Piedmont Office Realty Trust from $17.00 to $14.00 and set a neutral rating for the company in a research note on Friday, December 2nd.

Piedmont Office Realty Trust Price Performance

NYSE:PDM opened at $7.01 on Thursday. Piedmont Office Realty Trust has a 52 week low of $6.96 and a 52 week high of $17.66. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $866.72 million, a P/E ratio of 5.89 and a beta of 1.01. The stock’s fifty day moving average is $9.65 and its two-hundred day moving average is $10.07.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, February 24th were paid a $0.21 dividend. The ex-dividend date was Thursday, February 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.98%. Piedmont Office Realty Trust’s payout ratio is presently 70.59%.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Institutional investors have recently modified their holdings of the company. AXS Investments LLC grew its stake in shares of Piedmont Office Realty Trust by 27.7% in the third quarter. AXS Investments LLC now owns 69,112 shares of the real estate investment trust’s stock valued at $730,000 after buying an additional 15,000 shares in the last quarter. Captrust Financial Advisors acquired a new position in Piedmont Office Realty Trust during the 2nd quarter worth $108,000. AlphaCrest Capital Management LLC grew its stake in Piedmont Office Realty Trust by 41.0% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 52,156 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 15,166 shares in the last quarter. Systematic Financial Management LP grew its stake in Piedmont Office Realty Trust by 55.1% during the 3rd quarter. Systematic Financial Management LP now owns 1,110,103 shares of the real estate investment trust’s stock worth $11,723,000 after purchasing an additional 394,374 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Piedmont Office Realty Trust by 2.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 61,126 shares of the real estate investment trust’s stock worth $644,000 after purchasing an additional 1,251 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

About Piedmont Office Realty Trust

(Get Rating)

Piedmont Office Realty Trust, Inc engages in the ownership, management, development, redevelopment, and operation of office properties. It operates through the following geographical segments: Atlanta, Dallas, Washington, DC/Northern Virginia, Boston, Orlando, Minneapolis, and New York. The company was founded on July 3, 1997 and is headquartered in Atlanta, GA.

Featured Stories

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