Denali Advisors LLC cut its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM – Free Report) by 33.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 51,000 shares of the real estate investment trust’s stock after selling 25,500 shares during the period. Denali Advisors LLC’s holdings in Piedmont Office Realty Trust were worth $359,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sigma Planning Corp purchased a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $71,000. Adero Partners LLC acquired a new stake in Piedmont Office Realty Trust during the 4th quarter valued at $72,000. Sherbrooke Park Advisers LLC purchased a new stake in Piedmont Office Realty Trust during the 3rd quarter worth $89,000. Scharf Investments LLC acquired a new position in Piedmont Office Realty Trust in the 4th quarter worth $94,000. Finally, Inceptionr LLC acquired a new position in Piedmont Office Realty Trust in the 4th quarter worth $98,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.
Piedmont Office Realty Trust Price Performance
PDM stock opened at $7.38 on Thursday. The stock’s 50 day moving average is $7.09 and its two-hundred day moving average is $6.87. Piedmont Office Realty Trust, Inc. has a 52-week low of $4.91 and a 52-week high of $8.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.90 and a current ratio of 1.90.
Piedmont Office Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, May 23rd. This represents a $0.50 annualized dividend and a dividend yield of 6.78%. Piedmont Office Realty Trust’s payout ratio is -81.97%.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th.
View Our Latest Research Report on Piedmont Office Realty Trust
Piedmont Office Realty Trust 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.
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