Piedmont Office Realty Trust, Inc. (NYSE:PDM) Stake Increased by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 18.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,700 shares of the real estate investment trust’s stock after acquiring an additional 21,200 shares during the quarter. Janus Henderson Group PLC owned 0.10% of Piedmont Office Realty Trust worth $2,796,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Piedmont Office Realty Trust by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,265,264 shares of the real estate investment trust’s stock worth $47,751,000 after acquiring an additional 83,447 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Piedmont Office Realty Trust by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,045,080 shares of the real estate investment trust’s stock valued at $21,069,000 after buying an additional 27,722 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Piedmont Office Realty Trust in the 3rd quarter valued at about $730,000. LSV Asset Management lifted its stake in Piedmont Office Realty Trust by 1.4% in the 2nd quarter. LSV Asset Management now owns 6,801,281 shares of the real estate investment trust’s stock valued at $143,370,000 after buying an additional 95,600 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Piedmont Office Realty Trust by 321.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,914,228 shares of the real estate investment trust’s stock valued at $38,591,000 after buying an additional 1,459,995 shares in the last quarter. 83.34% of the stock is currently owned by institutional investors and hedge funds.

PDM has been the topic of a number of research reports. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, October 11th. ValuEngine raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $20.00 target price on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. 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 company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $22.33.

Piedmont Office Realty Trust, Inc. (PDM) opened at $19.27 on Friday. 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 12 month low of $18.91 and a 12 month high of $23.08. The firm has a market cap of $2,786.38, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.89 and a beta of 0.63.

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

The company also recently declared a None dividend, which was paid on Tuesday, January 9th. Stockholders of record on Tuesday, December 26th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, December 22nd. This represents a dividend yield of 4.16%. This is an increase from Piedmont Office Realty Trust’s previous None dividend of $0.21. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 62.69%.

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Piedmont Office Realty Trust Company 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.

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

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