BT Investment Management Ltd Decreases Holdings in Piedmont Office Realty Trust, Inc. (PDM)

BT Investment Management Ltd trimmed its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 11.3% during the fourth quarter, HoldingsChannel reports. The firm owned 164,000 shares of the real estate investment trust’s stock after selling 20,800 shares during the quarter. BT Investment Management Ltd’s holdings in Piedmont Office Realty Trust were worth $3,216,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in Piedmont Office Realty Trust by 25.5% during the fourth quarter. American Century Companies Inc. now owns 6,507,443 shares of the real estate investment trust’s stock worth $127,611,000 after purchasing an additional 1,320,393 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Piedmont Office Realty Trust by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,306,576 shares of the real estate investment trust’s stock valued at $46,501,000 after acquiring an additional 41,312 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of Piedmont Office Realty Trust by 4.1% in the third quarter. Systematic Financial Management LP now owns 1,917,299 shares of the real estate investment trust’s stock valued at $38,653,000 after acquiring an additional 75,942 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Piedmont Office Realty Trust by 321.4% in the third quarter. Prudential Financial Inc. now owns 1,914,228 shares of the real estate investment trust’s stock valued at $38,591,000 after acquiring an additional 1,459,995 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Piedmont Office Realty Trust by 10.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,776,028 shares of the real estate investment trust’s stock valued at $34,828,000 after acquiring an additional 170,676 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Several brokerages have recently issued reports on PDM. ValuEngine upgraded 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 reiterated a “hold” rating and issued a $20.00 price objective on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. SunTrust Banks set a $21.00 price objective on Piedmont Office Realty Trust and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Robert W. Baird set a $22.00 price objective on Piedmont Office Realty Trust and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Piedmont Office Realty Trust presently has an average rating of “Hold” and an average target price of $21.50.

Shares of Piedmont Office Realty Trust, Inc. (PDM) opened at $18.06 on Friday. The stock has a market capitalization of $2,520.00, a price-to-earnings ratio of 13.48, a PEG ratio of 2.73 and a beta of 0.55. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.78. Piedmont Office Realty Trust, Inc. has a 52 week low of $17.47 and a 52 week high of $23.08.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, February 22nd. Piedmont Office Realty Trust’s payout ratio is currently 62.69%.

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Piedmont Office Realty Trust Profile

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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