Mirae Asset Global Investments Co. Ltd. Acquires 4,998 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,572 shares of the real estate investment trust’s stock after buying an additional 4,998 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Piedmont Office Realty Trust were worth $424,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Piedmont Office Realty Trust by 13.3% during the fourth quarter. Allworth Financial LP now owns 15,992 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 1,880 shares in the last quarter. Camelot Portfolios LLC boosted its position in shares of Piedmont Office Realty Trust by 4.0% during the fourth quarter. Camelot Portfolios LLC now owns 52,500 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 2,000 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $129,000. Wilsey Asset Management Inc. boosted its position in shares of Piedmont Office Realty Trust by 6.3% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,930,974 shares of the real estate investment trust’s stock valued at $13,729,000 after purchasing an additional 113,641 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Piedmont Office Realty Trust by 5.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 121,143 shares of the real estate investment trust’s stock valued at $861,000 after purchasing an additional 6,469 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Stock Down 0.1 %

Shares of NYSE:PDM opened at $6.71 on Friday. The stock has a fifty day simple moving average of $6.50 and a two-hundred day simple moving average of $6.47. The stock has a market capitalization of $831.30 million, a price-to-earnings ratio of -16.77 and a beta of 1.15. Piedmont Office Realty Trust, Inc. has a 12-month low of $4.91 and a 12-month high of $8.05. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.19.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.65). The company had revenue of $145.33 million for the quarter, compared to analysts’ expectations of $146.37 million. Piedmont Office Realty Trust had a negative net margin of 8.38% and a negative return on equity of 2.72%. On average, research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.51 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 7.45%. The ex-dividend date is Thursday, May 23rd. Piedmont Office Realty Trust’s dividend payout ratio is currently -125.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.