StockNews.com Downgrades Piedmont Office Realty Trust (NYSE:PDM) to Hold

StockNews.com downgraded shares of Piedmont Office Realty Trust (NYSE:PDMGet Rating) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, Zacks Investment Research cut shares of Piedmont Office Realty Trust from a hold rating to a sell rating in a research report on Tuesday, April 12th.

Piedmont Office Realty Trust stock opened at $14.99 on Tuesday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 37.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.11 and a quick ratio of 2.11. Piedmont Office Realty Trust has a 1 year low of $14.56 and a 1 year high of $20.35. The firm has a 50-day moving average of $16.46 and a two-hundred day moving average of $17.52.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, May 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $0.84 annualized dividend and a yield of 5.60%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 210.00%.

In other news, CAO Laura P. Moon sold 7,627 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $16.09, for a total value of $122,718.43. Following the completion of the sale, the chief accounting officer now owns 47,001 shares of the company’s stock, valued at approximately $756,246.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn Gary Cohen purchased 5,000 shares of the stock in a transaction dated Thursday, February 24th. The stock was acquired at an average cost of $15.82 per share, with a total value of $79,100.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 11,500 shares of company stock valued at $183,525. 1.13% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Piedmont Office Realty Trust in the 1st quarter worth approximately $25,000. Rise Advisors LLC bought a new position in shares of Piedmont Office Realty Trust during the 4th quarter worth approximately $29,000. Prospera Financial Services Inc bought a new position in shares of Piedmont Office Realty Trust during the 1st quarter worth approximately $29,000. Zullo Investment Group Inc. bought a new position in shares of Piedmont Office Realty Trust during the 4th quarter worth approximately $45,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Piedmont Office Realty Trust during the 3rd quarter worth approximately $50,000. 82.61% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Company Profile (Get Rating)

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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