Metropolitan Life Insurance Co NY decreased its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) by 61.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,940 shares of the real estate investment trust's stock after selling 24,050 shares during the quarter. Metropolitan Life Insurance Co NY's holdings in Piedmont Office Realty Trust were worth $257,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of PDM. Riverview Trust Co bought a new stake in shares of Piedmont Office Realty Trust during the 1st quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at $29,000. Prospera Financial Services Inc bought a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at $29,000. CWM LLC raised its holdings in shares of Piedmont Office Realty Trust by 74.4% during the 1st quarter. CWM LLC now owns 7,493 shares of the real estate investment trust's stock worth $129,000 after buying an additional 3,197 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Piedmont Office Realty Trust by 31.5% during the 4th quarter. Schroder Investment Management Group now owns 8,028 shares of the real estate investment trust's stock worth $148,000 after buying an additional 1,924 shares in the last quarter. 82.51% of the stock is owned by institutional investors.
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Piedmont Office Realty Trust Stock Up 2.8 %
Shares of PDM opened at $12.24 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.82 and a current ratio of 1.82. Piedmont Office Realty Trust, Inc. has a 52 week low of $11.55 and a 52 week high of $19.84. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 32.21 and a beta of 0.97. The stock has a fifty day moving average of $12.90 and a 200-day moving average of $14.69.
Piedmont Office Realty Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 26th will be given a $0.21 dividend. The ex-dividend date is Thursday, August 25th. This represents a $0.84 annualized dividend and a yield of 6.86%. Piedmont Office Realty Trust's dividend payout ratio is presently 221.05%.
Insider Activity
In other news, Director Glenn Gary Cohen acquired 3,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was bought at an average price of $13.01 per share, with a total value of $39,030.00. Following the completion of the purchase, the director now directly owns 30,419 shares of the company's stock, valued at approximately $395,751.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.13% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on PDM shares. Truist Financial decreased their target price on Piedmont Office Realty Trust from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, June 30th. StockNews.com cut shares of Piedmont Office Realty Trust from a "buy" rating to a "hold" rating in a research report on Thursday, May 26th.
About Piedmont Office Realty Trust
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Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.
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- Get a free copy of the StockNews.com research report on Piedmont Office Realty Trust (PDM)
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