Thrivent Financial For Lutherans Sells 100 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Thrivent Financial For Lutherans cut its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,044 shares of the real estate investment trust’s stock after selling 100 shares during the period. Thrivent Financial For Lutherans’ holdings in Piedmont Office Realty Trust were worth $749,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY raised its stake in Piedmont Office Realty Trust by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,109 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 211 shares during the period. Utah Retirement Systems raised its stake in Piedmont Office Realty Trust by 0.7% in the first quarter. Utah Retirement Systems now owns 41,360 shares of the real estate investment trust’s stock worth $884,000 after buying an additional 300 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Piedmont Office Realty Trust by 2.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,680 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 396 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Piedmont Office Realty Trust by 6.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,141 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 1,380 shares during the period. Finally, SG Americas Securities LLC raised its stake in Piedmont Office Realty Trust by 31.5% in the first quarter. SG Americas Securities LLC now owns 7,696 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 1,843 shares during the period. Institutional investors and hedge funds own 86.79% of the company’s stock.

Piedmont Office Realty Trust, Inc. (PDM) opened at 20.57 on Thursday. The company has a 50-day moving average price of $21.34 and a 200-day moving average price of $21.52. Piedmont Office Realty Trust, Inc. has a one year low of $18.61 and a one year high of $23.08. The stock has a market cap of $2.99 billion, a P/E ratio of 28.61 and a beta of 0.60.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.34. The business had revenue of $148.50 million during the quarter, compared to the consensus estimate of $145.35 million. Piedmont Office Realty Trust had a return on equity of 5.26% and a net margin of 19.89%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, analysts anticipate that Piedmont Office Realty Trust, Inc. will post $0.40 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, May 26th were paid a $0.21 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.08%. Piedmont Office Realty Trust’s payout ratio is presently 109.09%.

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A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Saturday, May 6th. Finally, ValuEngine downgraded Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $22.50.

In other news, CAO Laura P. Moon sold 7,800 shares of Piedmont Office Realty Trust stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $21.64, for a total value of $168,792.00. Following the transaction, the chief accounting officer now directly owns 24,620 shares in the company, valued at $532,776.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.76% of the company’s stock.

About Piedmont Office Realty Trust

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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