Riverhead Capital Management LLC Buys New Position in Piedmont Office Realty Trust (PDM)

Riverhead Capital Management LLC bought a new stake in Piedmont Office Realty Trust (NYSE:PDM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 43,550 shares of the real estate investment trust’s stock, valued at approximately $766,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in Piedmont Office Realty Trust by 38.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 12,011 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 3,366 shares in the last quarter. Swiss National Bank lifted its stake in Piedmont Office Realty Trust by 1.9% in the 4th quarter. Swiss National Bank now owns 247,900 shares of the real estate investment trust’s stock valued at $4,861,000 after acquiring an additional 4,600 shares in the last quarter. Centaurus Financial Inc. bought a new stake in Piedmont Office Realty Trust in the 1st quarter valued at approximately $104,000. Strs Ohio lifted its stake in Piedmont Office Realty Trust by 1.5% in the 4th quarter. Strs Ohio now owns 414,584 shares of the real estate investment trust’s stock valued at $8,129,000 after acquiring an additional 6,286 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Piedmont Office Realty Trust by 123.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,600 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 6,400 shares in the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.

Shares of Piedmont Office Realty Trust opened at $18.38 on Wednesday, MarketBeat.com reports. Piedmont Office Realty Trust has a 12-month low of $16.69 and a 12-month high of $21.80. The company has a market cap of $2.35 billion, a PE ratio of 10.73, a P/E/G ratio of 2.67 and a beta of 0.60. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.94.



Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Piedmont Office Realty Trust had a return on equity of 3.33% and a net margin of 31.73%. The company had revenue of $129.90 million for the quarter, compared to analysts’ expectations of $131.38 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was down 12.5% compared to the same quarter last year. equities analysts expect that Piedmont Office Realty Trust will post 1.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Wednesday, May 23rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Tuesday, May 22nd. Piedmont Office Realty Trust’s dividend payout ratio is currently 48.00%.

PDM has been the topic of several research reports. Stifel Nicolaus restated a “hold” rating on shares of Piedmont Office Realty Trust in a research note on Friday, February 9th. SunTrust Banks set a $20.00 target price on Piedmont Office Realty Trust and gave the company a “hold” rating in a research note on Tuesday, March 6th. ValuEngine cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Robert W. Baird set a $22.00 target price on Piedmont Office Realty Trust and gave the company a “buy” rating in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $21.25.

In related news, Director Jeffrey L. Swope acquired 5,700 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were bought at an average price of $17.57 per share, for a total transaction of $100,149.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kelly Hefner Barrett acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were bought at an average price of $18.65 per share, for a total transaction of $186,500.00. Following the purchase, the director now owns 16,446 shares in the company, valued at $306,717.90. The disclosure for this purchase can be found here. Corporate insiders own 0.91% of the company’s stock.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select submarkets 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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Institutional Ownership by Quarter for Piedmont Office Realty Trust (NYSE:PDM)

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