Laurion Capital Management LP bought a new position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,500 shares of the real estate investment trust’s stock, valued at approximately $327,000.

A number of other hedge funds have also recently modified their holdings of PDM. BlackRock Inc. boosted its stake in Piedmont Office Realty Trust by 3,921.0% during the first quarter. BlackRock Inc. now owns 9,609,860 shares of the real estate investment trust’s stock worth $205,459,000 after buying an additional 9,370,868 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Piedmont Office Realty Trust by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 23,021,266 shares of the real estate investment trust’s stock valued at $492,194,000 after buying an additional 511,212 shares in the last quarter. WBI Investments Inc. acquired a new position in shares of Piedmont Office Realty Trust in the 2nd quarter valued at $7,498,000. Systematic Financial Management LP raised its stake in shares of Piedmont Office Realty Trust by 23.4% in the 2nd quarter. Systematic Financial Management LP now owns 1,841,357 shares of the real estate investment trust’s stock valued at $38,816,000 after buying an additional 349,340 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Piedmont Office Realty Trust by 4.5% in the 1st quarter. State Street Corp now owns 4,777,715 shares of the real estate investment trust’s stock valued at $102,146,000 after buying an additional 205,578 shares in the last quarter. 82.75% of the stock is owned by hedge funds and other institutional investors.

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Shares of Piedmont Office Realty Trust, Inc. (NYSE PDM) opened at 20.16 on Monday. The stock has a 50 day moving average of $20.25 and a 200 day moving average of $21.12. 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 cap of $2.93 billion, a price-to-earnings ratio of 52.36 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The firm had revenue of $148.70 million for the quarter, compared to analyst estimates of $147.66 million. Piedmont Office Realty Trust had a return on equity of 2.67% and a net margin of 9.71%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. On average, equities analysts expect that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current fiscal year.

The business also recently announced 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 4.17%. The ex-dividend date was Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 221.06%.

Several brokerages have recently weighed in on PDM. BidaskClub upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday, July 5th. ValuEngine cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Stifel Nicolaus reaffirmed a “hold” rating and set a $21.00 price objective on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. Finally, Robert W. Baird upgraded Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $23.00 to $24.00 in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued 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)

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