Fmr LLC decreased its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 18.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,711,520 shares of the real estate investment trust’s stock after selling 1,255,729 shares during the quarter. Fmr LLC owned 4.45% of Piedmont Office Realty Trust worth $113,830,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Assetmark Inc. raised its holdings in Piedmont Office Realty Trust by 2,017.2% during the first quarter. Assetmark Inc. now owns 6,521 shares of the real estate investment trust’s stock worth $115,000 after purchasing an additional 6,213 shares in the last quarter. Clearwater Capital Advisors LLC acquired a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $134,000. Neuberger Berman Group LLC acquired a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $206,000. Tibra Equities Europe Ltd acquired a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $208,000. Finally, Atria Investments LLC acquired a new stake in Piedmont Office Realty Trust during the second quarter worth approximately $216,000. 86.53% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. ValuEngine raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. DA Davidson raised shares of Piedmont Office Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a report on Friday, June 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Piedmont Office Realty Trust has a consensus rating of “Hold” and a consensus target price of $21.60.

Shares of Piedmont Office Realty Trust stock opened at $19.37 on Monday. The firm has a market capitalization of $2.50 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 2.86 and a beta of 0.59. Piedmont Office Realty Trust, Inc. has a 12 month low of $16.69 and a 12 month high of $20.57. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.07 and a current ratio of 2.07.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $129.17 million during the quarter, compared to analyst estimates of $125.15 million. Piedmont Office Realty Trust had a net margin of 30.50% and a return on equity of 2.81%. During the same period in the previous year, the firm earned $0.46 earnings per share. equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, August 31st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.34%. Piedmont Office Realty Trust’s payout ratio is 48.00%.

Piedmont Office Realty Trust Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

Featured Article: Trading Strategy

Want to see what other hedge funds are holding PDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piedmont Office Realty Trust, Inc. (NYSE:PDM).

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

Receive News & Ratings for Piedmont Office Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.