Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,110,000 shares, a decrease of 16.9% from the August 15th total of 2,540,000 shares. Based on an average daily volume of 726,400 shares, the short-interest ratio is presently 2.9 days. Currently, 1.7% of the shares of the stock are sold short.
Piedmont Office Realty Trust Stock Up 2.4 %
NYSE:PDM opened at $12.19 on Friday. The stock's fifty day moving average price is $12.78 and its two-hundred day moving average price is $14.46. Piedmont Office Realty Trust has a 52-week low of $11.55 and a 52-week high of $19.84. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 32.08 and a beta of 0.97.
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Piedmont Office Realty Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend was Thursday, August 25th. Piedmont Office Realty Trust's dividend payout ratio is 221.05%.
Insider Activity
In related news, Director Glenn Gary Cohen acquired 3,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were bought at an average cost of $13.01 per share, for a total transaction of $39,030.00. Following the purchase, the director now owns 30,419 shares in the company, valued at approximately $395,751.19. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.13% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Riverview Trust Co acquired a new position in Piedmont Office Realty Trust during the 1st quarter worth $25,000. Rise Advisors LLC acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at $29,000. Prospera Financial Services Inc acquired a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at $29,000. WFA of San Diego LLC acquired a new position in shares of Piedmont Office Realty Trust in the 2nd quarter valued at $37,000. Finally, Point72 Hong Kong Ltd lifted its stake in shares of Piedmont Office Realty Trust by 3,499.2% in the 2nd quarter. Point72 Hong Kong Ltd now owns 4,643 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 4,514 shares during the period. Institutional investors and hedge funds own 82.51% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on PDM shares. StockNews.com lowered Piedmont Office Realty Trust from a "buy" rating to a "hold" rating in a research report on Thursday, May 26th. Truist Financial decreased their price target 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.
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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