Short Interest in Piedmont Office Realty Trust, Inc. (NYSE:PDM) Decreases By 5.9%

Piedmont Office Realty Trust, Inc. (NYSE:PDM) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 5,150,000 shares, a decline of 5.9% from the December 15th total of 5,470,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average trading volume of 732,800 shares, the short-interest ratio is currently 7.0 days.

NYSE PDM traded up $0.14 during trading hours on Friday, reaching $23.16. The stock had a trading volume of 5,127 shares, compared to its average volume of 1,148,317. The stock has a fifty day moving average of $22.11 and a 200 day moving average of $20.97. The stock has a market cap of $2.85 billion, a P/E ratio of 13.36 and a beta of 0.67. Piedmont Office Realty Trust has a 52-week low of $18.07 and a 52-week high of $23.11. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.48 and a current ratio of 1.48.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.38). The firm had revenue of $135.46 million during the quarter, compared to analysts’ expectations of $127.16 million. Piedmont Office Realty Trust had a net margin of 20.92% and a return on equity of 6.58%. Piedmont Office Realty Trust’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities research analysts forecast that Piedmont Office Realty Trust will post 1.78 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, November 29th were given a $0.21 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.84 dividend on an annualized basis and a yield of 3.63%. Piedmont Office Realty Trust’s dividend payout ratio is currently 48.55%.

A number of equities research analysts have recently weighed in on PDM shares. ValuEngine lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Robert W. Baird upgraded Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Monday, January 6th. SunTrust Banks boosted their price target on Piedmont Office Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Zacks Investment Research lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Finally, TheStreet upgraded Piedmont Office Realty Trust from a “c+” rating to a “b-” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.75.

A number of hedge funds and other institutional investors have recently modified their holdings of PDM. Garrett Wealth Advisory Group LLC purchased a new stake in Piedmont Office Realty Trust in the third quarter valued at approximately $30,000. Prime Capital Investment Advisors LLC boosted its position in Piedmont Office Realty Trust by 38.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,890 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 520 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Piedmont Office Realty Trust in the second quarter valued at approximately $53,000. Point72 Hong Kong Ltd purchased a new stake in Piedmont Office Realty Trust in the 2nd quarter worth approximately $63,000. Finally, Point72 Asset Management L.P. purchased a new stake in Piedmont Office Realty Trust in the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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