Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 121.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 91,161 shares of the real estate investment trust’s stock after purchasing an additional 50,000 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Piedmont Office Realty Trust were worth $1,237,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its holdings in Piedmont Office Realty Trust by 44.0% during the first quarter. First Trust Advisors LP now owns 107,580 shares of the real estate investment trust’s stock worth $2,243,000 after buying an additional 32,856 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Piedmont Office Realty Trust by 3.1% during the 2nd quarter. SG Americas Securities LLC now owns 152,463 shares of the real estate investment trust’s stock worth $2,532,000 after purchasing an additional 4,532 shares during the last quarter. Campbell Wealth Management acquired a new position in shares of Piedmont Office Realty Trust during the 2nd quarter worth about $26,000. Denali Advisors LLC raised its holdings in shares of Piedmont Office Realty Trust by 67.4% in the 2nd quarter. Denali Advisors LLC now owns 68,800 shares of the real estate investment trust’s stock valued at $1,143,000 after purchasing an additional 27,700 shares during the period. Finally, Strs Ohio lifted its stake in Piedmont Office Realty Trust by 0.3% in the 2nd quarter. Strs Ohio now owns 389,304 shares of the real estate investment trust’s stock valued at $6,466,000 after purchasing an additional 1,146 shares during the last quarter. 82.52% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust stock opened at $15.97 on Friday. The company’s 50-day moving average price is $13.47 and its two-hundred day moving average price is $15.28. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2.01 billion, a P/E ratio of 5.41 and a beta of 0.71. Piedmont Office Realty Trust, Inc. has a twelve month low of $11.26 and a twelve month high of $24.78.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.40). The firm had revenue of $131.69 million during the quarter, compared to analyst estimates of $132.16 million. Piedmont Office Realty Trust had a net margin of 68.72% and a return on equity of 20.58%. Piedmont Office Realty Trust’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. Equities analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, November 27th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date is Wednesday, November 25th. Piedmont Office Realty Trust’s dividend payout ratio is currently 46.93%.

A number of research firms have recently issued reports on PDM. ValuEngine cut Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Zacks Investment Research cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Piedmont Office Realty Trust has an average rating of “Hold” and a consensus target price of $19.25.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

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

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