Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 16.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,202,281 shares of the real estate investment trust’s stock after acquiring an additional 167,262 shares during the quarter. Wellington Management Group LLP owned approximately 0.97% of Piedmont Office Realty Trust worth $8,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PDM. Presima Securities ULC raised its holdings in Piedmont Office Realty Trust by 5.5% during the 4th quarter. Presima Securities ULC now owns 42,144 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 2,200 shares during the period. Adero Partners LLC purchased a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at approximately $72,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in Piedmont Office Realty Trust by 13.4% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,449,081 shares of the real estate investment trust’s stock worth $10,303,000 after purchasing an additional 170,823 shares during the period. Hsbc Holdings PLC grew its position in Piedmont Office Realty Trust by 26.7% during the 4th quarter. Hsbc Holdings PLC now owns 86,112 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 18,136 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Piedmont Office Realty Trust by 9.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 155,183 shares of the real estate investment trust’s stock valued at $1,103,000 after purchasing an additional 13,498 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Trading Up 0.6 %

NYSE:PDM opened at $7.04 on Friday. The stock has a market cap of $872.19 million, a PE ratio of -11.54 and a beta of 1.19. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $8.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50-day moving average is $7.06 and its two-hundred day moving average is $6.87.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.61). The business had revenue of $144.54 million during the quarter, compared to the consensus estimate of $143.41 million. Piedmont Office Realty Trust had a negative return on equity of 4.29% and a negative net margin of 12.90%. As a group, equities research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date was Thursday, May 23rd. Piedmont Office Realty Trust’s payout ratio is -81.97%.

Analysts Set New Price Targets

Separately, StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, June 21st.

About Piedmont Office Realty Trust

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.