Private Management Group Inc. Sells 257,540 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Private Management Group Inc. decreased its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,913,879 shares of the real estate investment trust’s stock after selling 257,540 shares during the period. Piedmont Office Realty Trust comprises about 1.3% of Private Management Group Inc.’s investment portfolio, making the stock its 15th biggest holding. Private Management Group Inc. owned 3.16% of Piedmont Office Realty Trust worth $35,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Piedmont Office Realty Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,241 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Piedmont Office Realty Trust by 51.3% during the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,666 shares during the last quarter. Optas LLC bought a new position in Piedmont Office Realty Trust during the third quarter valued at approximately $101,000. Arkadios Wealth Advisors purchased a new stake in Piedmont Office Realty Trust in the fourth quarter worth approximately $105,000. Finally, Sei Investments Co. purchased a new stake in Piedmont Office Realty Trust in the second quarter worth approximately $85,000. 84.48% of the stock is owned by institutional investors.

Piedmont Office Realty Trust Stock Performance

Shares of Piedmont Office Realty Trust stock opened at $8.37 on Thursday. Piedmont Office Realty Trust, Inc. has a 1-year low of $5.93 and a 1-year high of $11.11. The company’s fifty day simple moving average is $8.92 and its 200-day simple moving average is $9.36. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.36.

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 5.98%. The ex-dividend date is Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is presently -80.64%.

Wall Street Analyst Weigh In

PDM has been the topic of several research analyst reports. Baird R W cut Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Robert W. Baird downgraded Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Thursday, January 16th. Finally, StockNews.com downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, January 20th.

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.