Raymond James Financial Services Advisors Inc. Has $498,000 Holdings in Piedmont Office Realty Trust, Inc. (PDM)

Raymond James Financial Services Advisors Inc. boosted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 28.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,680 shares of the real estate investment trust’s stock after purchasing an additional 5,464 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Piedmont Office Realty Trust were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Piedmont Office Realty Trust by 4.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,060 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 364 shares during the period. Blue Sky Asset Management LLC purchased a new position in shares of Piedmont Office Realty Trust during the 2nd quarter valued at about $173,000. PNC Financial Services Group Inc. increased its stake in Piedmont Office Realty Trust by 19.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 1,404 shares during the period. Financial Counselors Inc. increased its stake in Piedmont Office Realty Trust by 0.5% in the 2nd quarter. Financial Counselors Inc. now owns 10,454 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 47 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Piedmont Office Realty Trust by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,401 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 737 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.

A number of equities analysts have commented on the company. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 target price on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. Robert W. Baird raised Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $23.00 to $24.00 in a research note on Monday, August 28th. Finally, BidaskClub lowered Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Piedmont Office Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $22.33.

Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) traded down $0.10 during trading hours on Thursday, hitting $19.65. The stock had a trading volume of 686,900 shares, compared to its average volume of 708,472. The company has a market capitalization of $2,851.34, a P/E ratio of 11.16, a P/E/G ratio of 2.83 and a beta of 0.63. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.15 and a current ratio of 2.15. Piedmont Office Realty Trust, Inc. has a 1 year low of $19.10 and a 1 year high of $23.08.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $137.59 million for the quarter, compared to the consensus estimate of $140.39 million. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. During the same period in the prior year, the company posted $0.41 earnings per share. sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, November 24th 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 4.27%. The ex-dividend date is Wednesday, November 22nd. Piedmont Office Realty Trust’s payout ratio is currently 62.69%.

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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.

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

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