Kempen Capital Management N.V. cut its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 29.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 80,535 shares of the real estate investment trust’s stock after selling 32,816 shares during the period. Kempen Capital Management N.V. owned about 0.06% of Piedmont Office Realty Trust worth $1,697,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Paragon Capital Management Ltd acquired a new position in Piedmont Office Realty Trust during the second quarter worth $246,000. Westpac Banking Corp raised its position in Piedmont Office Realty Trust by 3.6% during the first quarter. Westpac Banking Corp now owns 224,900 shares of the real estate investment trust’s stock worth $4,808,000 after acquiring an additional 7,900 shares during the period. AQR Capital Management LLC raised its position in Piedmont Office Realty Trust by 17.8% during the first quarter. AQR Capital Management LLC now owns 190,109 shares of the real estate investment trust’s stock worth $4,065,000 after acquiring an additional 28,664 shares during the period. LSV Asset Management raised its position in Piedmont Office Realty Trust by 1.4% during the second quarter. LSV Asset Management now owns 6,801,281 shares of the real estate investment trust’s stock worth $143,370,000 after acquiring an additional 95,600 shares during the period. Finally, Geode Capital Management LLC raised its position in Piedmont Office Realty Trust by 7.2% during the first quarter. Geode Capital Management LLC now owns 1,446,915 shares of the real estate investment trust’s stock worth $30,935,000 after acquiring an additional 97,659 shares during the period. Institutional investors own 82.75% of the company’s stock.

PDM has been the subject of a number of research analyst reports. BidaskClub cut shares of Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. ValuEngine cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, July 5th. Finally, Robert W. Baird upgraded shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $23.00 to $24.00 in a research report on Monday, August 28th. One investment analyst has 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. Piedmont Office Realty Trust presently has an average rating of “Hold” and a consensus price target of $22.83.

Piedmont Office Realty Trust, Inc. (PDM) traded down 0.30% during trading on Tuesday, reaching $20.26. 59,414 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 52.62 and a beta of 0.61. Piedmont Office Realty Trust, Inc. has a 52 week low of $18.61 and a 52 week high of $23.08. The stock has a 50-day moving average price of $20.28 and a 200 day moving average price of $21.14.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Piedmont Office Realty Trust had a return on equity of 2.67% and a net margin of 9.71%. The company had revenue of $148.70 million during the quarter, compared to the consensus estimate of $147.66 million. During the same quarter last year, the company earned $0.40 earnings per share. Piedmont Office Realty Trust’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Piedmont Office Realty Trust, Inc. will post $0.50 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 221.06%.

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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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