Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by DGS Capital Management LLC

DGS Capital Management LLC lowered its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 15.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,346 shares of the real estate investment trust’s stock after selling 3,979 shares during the quarter. DGS Capital Management LLC’s holdings in Piedmont Office Realty Trust were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PDM. Geode Capital Management LLC lifted its position in Piedmont Office Realty Trust by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust’s stock worth $32,499,000 after acquiring an additional 48,944 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Piedmont Office Realty Trust by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust’s stock worth $12,467,000 after purchasing an additional 14,831 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Piedmont Office Realty Trust by 4.3% in the third quarter. Systematic Financial Management LP now owns 1,162,619 shares of the real estate investment trust’s stock valued at $11,742,000 after purchasing an additional 47,783 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Piedmont Office Realty Trust by 47.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock valued at $10,802,000 after purchasing an additional 344,694 shares during the period. Finally, Marshall Wace LLP grew its holdings in Piedmont Office Realty Trust by 7,041.3% during the 2nd quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock valued at $6,627,000 after purchasing an additional 901,292 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Performance

Shares of PDM opened at $9.36 on Friday. Piedmont Office Realty Trust, Inc. has a 52-week low of $5.93 and a 52-week high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -15.10 and a beta of 1.20. The business’s 50 day moving average is $9.88 and its two-hundred day moving average is $8.99.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.46). The company had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same period in the previous year, the business posted $0.43 EPS. Analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio is currently -80.64%.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their price objective on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.