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ProShare Advisors LLC Decreases Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Defense World · Sep 4, 2022 04:51

ProShare Advisors LLC lowered its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) by 14.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,284 shares of the real estate investment trust's stock after selling 3,843 shares during the period. ProShare Advisors LLC's holdings in Piedmont Office Realty Trust were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV boosted its holdings in Piedmont Office Realty Trust by 8.5% during the first quarter. Mercer Global Advisors Inc. ADV now owns 26,815 shares of the real estate investment trust's stock worth $462,000 after buying an additional 2,103 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Piedmont Office Realty Trust by 15.1% during the first quarter. Van ECK Associates Corp now owns 11,107 shares of the real estate investment trust's stock worth $191,000 after buying an additional 1,454 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in Piedmont Office Realty Trust during the first quarter worth about $907,000. Berger Financial Group Inc purchased a new stake in Piedmont Office Realty Trust during the first quarter worth about $173,000. Finally, Swiss National Bank boosted its holdings in Piedmont Office Realty Trust by 7.4% during the first quarter. Swiss National Bank now owns 293,500 shares of the real estate investment trust's stock worth $5,054,000 after buying an additional 20,300 shares in the last quarter. Hedge funds and other institutional investors own 82.51% of the company's stock.

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Piedmont Office Realty Trust Stock Performance

Shares of PDM opened at $11.89 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.92. The stock has a market cap of $1.47 billion, a P/E ratio of 31.29 and a beta of 0.95. The company has a 50-day moving average of $13.03 and a two-hundred day moving average of $14.84. Piedmont Office Realty Trust, Inc. has a 12-month low of $11.55 and a 12-month high of $19.84.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, August 26th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date of this dividend is Thursday, August 25th. Piedmont Office Realty Trust's dividend payout ratio is presently 221.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PDM shares. Truist Financial cut their target price on shares of Piedmont Office Realty Trust from $21.00 to $17.00 and set a "buy" rating for the company 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.

Insider Activity

In other news, Director Glenn Gary Cohen acquired 3,000 shares of the business's stock in a transaction dated Thursday, August 4th. The stock was acquired at an average price of $13.01 per share, with a total value of $39,030.00. Following the completion of the transaction, the director now directly 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 at the SEC website. Company insiders own 1.13% of the company's stock.

Piedmont Office Realty Trust Company Profile

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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.