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Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by AlphaCrest Capital Management LLC

Defense World · Sep 7, 2022 05:51

AlphaCrest Capital Management LLC lowered its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) by 80.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 36,990 shares of the real estate investment trust's stock after selling 152,784 shares during the quarter. AlphaCrest Capital Management LLC's holdings in Piedmont Office Realty Trust were worth $637,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC raised its stake in shares of Piedmont Office Realty Trust by 3.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 25,935 shares of the real estate investment trust's stock valued at $447,000 after buying an additional 753 shares during the last quarter. abrdn plc raised its stake in shares of Piedmont Office Realty Trust by 3.2% during the 1st quarter. abrdn plc now owns 27,515 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 865 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Piedmont Office Realty Trust by 2.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 51,628 shares of the real estate investment trust's stock valued at $889,000 after buying an additional 1,265 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Piedmont Office Realty Trust by 15.1% during the 1st quarter. Van ECK Associates Corp now owns 11,107 shares of the real estate investment trust's stock valued at $191,000 after buying an additional 1,454 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Piedmont Office Realty Trust during the 1st quarter valued at about $25,000. Hedge funds and other institutional investors own 82.51% of the company's stock.

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Piedmont Office Realty Trust Price Performance

Shares of Piedmont Office Realty Trust stock opened at $11.91 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.92. Piedmont Office Realty Trust, Inc. has a twelve month low of $11.55 and a twelve month high of $19.84. The business has a 50-day moving average price of $13.03 and a 200 day moving average price of $14.84. The firm has a market cap of $1.47 billion, a PE ratio of 31.34 and a beta of 0.97.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 26th will be paid a $0.21 dividend. The ex-dividend date is Thursday, August 25th. This represents a $0.84 annualized dividend and a dividend yield of 7.05%. Piedmont Office Realty Trust's dividend payout ratio is presently 221.05%.

Insider Activity at Piedmont Office Realty Trust

In other Piedmont Office Realty Trust news, Director Glenn Gary Cohen purchased 3,000 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The stock was purchased at an average price of $13.01 per share, for a total transaction of $39,030.00. Following the purchase, the director now directly owns 30,419 shares in the company, valued at $395,751.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

PDM has been the subject of a number of recent research reports. StockNews.com lowered Piedmont Office Realty Trust from a "buy" rating to a "hold" rating in a research note on Thursday, May 26th. Truist Financial cut their price target on Piedmont Office Realty Trust from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, June 30th.

Piedmont Office Realty Trust 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.