New Mexico Educational Retirement Board Has $434,000 Stake in Piedmont Office Realty Trust, Inc. (PDM)

New Mexico Educational Retirement Board continued to hold its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,645 shares of the real estate investment trust’s stock at the end of the second quarter. New Mexico Educational Retirement Board’s holdings in Piedmont Office Realty Trust were worth $434,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Metropolitan Life Insurance Co. NY boosted its position in shares of Piedmont Office Realty Trust by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,109 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 211 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Piedmont Office Realty Trust by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 181,952 shares of the real estate investment trust’s stock worth $3,805,000 after buying an additional 7,871 shares in the last quarter. James Investment Research Inc. acquired a new position in shares of Piedmont Office Realty Trust during the first quarter worth about $141,000. Sigma Planning Corp boosted its position in shares of Piedmont Office Realty Trust by 9.9% in the first quarter. Sigma Planning Corp now owns 21,938 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 1,979 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Piedmont Office Realty Trust by 24.6% in the first quarter. ProShare Advisors LLC now owns 48,357 shares of the real estate investment trust’s stock worth $855,000 after buying an additional 9,557 shares in the last quarter. Institutional investors own 86.40% of the company’s stock.

Shares of Piedmont Office Realty Trust, Inc. (NYSE PDM) opened at 20.15 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of 52.34 and a beta of 0.60. Piedmont Office Realty Trust, Inc. has a 12 month low of $18.61 and a 12 month high of $23.08. The company’s 50 day moving average is $20.65 and its 200-day moving average is $21.46.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.17%. The ex-dividend date is Wednesday, August 23rd. Piedmont Office Realty Trust’s payout ratio is 221.06%.

Piedmont Office Realty Trust declared that its Board of Directors has approved a stock buyback program on Wednesday, May 3rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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A number of equities analysts have recently issued reports on PDM shares. Zacks Investment Research cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. BidaskClub upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, ValuEngine cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th.

In other Piedmont Office Realty Trust news, CAO Laura P. Moon sold 7,800 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $21.64, for a total transaction of $168,792.00. Following the completion of the transaction, the chief accounting officer now owns 24,620 shares of the company’s stock, valued at $532,776.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by insiders.

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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