Allianz Asset Management GmbH raised its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1,147.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,520 shares of the real estate investment trust’s stock after purchasing an additional 116,375 shares during the period. Allianz Asset Management GmbH’s holdings in Piedmont Office Realty Trust were worth $2,481,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PDM. Raymond James Financial Services Advisors Inc. lifted its holdings in Piedmont Office Realty Trust by 28.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,680 shares of the real estate investment trust’s stock valued at $498,000 after purchasing an additional 5,464 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Piedmont Office Realty Trust by 10.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 53,511 shares of the real estate investment trust’s stock valued at $1,079,000 after purchasing an additional 5,149 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Piedmont Office Realty Trust by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,045,080 shares of the real estate investment trust’s stock valued at $21,069,000 after purchasing an additional 27,722 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Piedmont Office Realty Trust by 258.9% in the 3rd quarter. SG Americas Securities LLC now owns 28,926 shares of the real estate investment trust’s stock valued at $583,000 after purchasing an additional 20,866 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Piedmont Office Realty Trust in the 3rd quarter valued at about $785,000. Institutional investors own 88.19% of the company’s stock.

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A number of research firms have issued reports on PDM. ValuEngine upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Robert W. Baird set a $22.00 target price on shares of Piedmont Office Realty Trust and gave the company a “buy” rating in a report on Thursday, February 8th. Stifel Nicolaus lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. SunTrust Banks set a $20.00 target price on shares of Piedmont Office Realty Trust and gave the company a “hold” rating in a report on Tuesday, March 6th. Finally, Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.25.

In related news, insider Christopher Brent Smith acquired 2,800 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $17.80 per share, for a total transaction of $49,840.00. Following the acquisition, the insider now directly owns 53,027 shares in the company, valued at approximately $943,880.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey L. Swope acquired 5,700 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were bought at an average price of $17.57 per share, for a total transaction of $100,149.00. The disclosure for this purchase can be found here. Corporate insiders own 0.76% of the company’s stock.

Piedmont Office Realty Trust stock opened at $17.60 on Thursday. The firm has a market cap of $2,404.17, a PE ratio of 10.17, a PEG ratio of 2.66 and a beta of 0.60. Piedmont Office Realty Trust, Inc. has a 1-year low of $17.35 and a 1-year high of $22.74. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.87.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.63). The company had revenue of $139.44 million for the quarter, compared to analysts’ expectations of $136.82 million. Piedmont Office Realty Trust had a return on equity of 1.16% and a net margin of 23.26%. research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.84 annualized dividend and a dividend yield of 4.77%. Piedmont Office Realty Trust’s payout ratio is currently 91.30%.

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Piedmont Office Realty Trust Profile

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

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