Piedmont Office Realty Trust, Inc. (NYSE:PDM) Short Interest Update
Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Free Report) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 3,060,000 shares, a decline of 21.3% from the November 15th total of 3,890,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.5% of the company’s stock are sold short.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in PDM. The Manufacturers Life Insurance Company lifted its stake in Piedmont Office Realty Trust by 2.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 49,418 shares of the real estate investment trust’s stock valued at $453,000 after purchasing an additional 970 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Piedmont Office Realty Trust by 10.4% during the second quarter. Allworth Financial LP now owns 14,372 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 1,353 shares during the period. Invesco Ltd. increased its holdings in shares of Piedmont Office Realty Trust by 0.5% during the first quarter. Invesco Ltd. now owns 296,221 shares of the real estate investment trust’s stock worth $5,101,000 after purchasing an additional 1,414 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 1.9% during the third quarter. Envestnet Asset Management Inc. now owns 81,856 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 1,497 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Piedmont Office Realty Trust by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 110,448 shares of the real estate investment trust’s stock valued at $1,974,000 after acquiring an additional 1,550 shares during the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.
Piedmont Office Realty Trust Price Performance
Shares of NYSE:PDM opened at $7.49 on Friday. Piedmont Office Realty Trust has a fifty-two week low of $4.91 and a fifty-two week high of $11.37. The business has a 50-day moving average of $5.87 and a two-hundred day moving average of $6.47. The stock has a market capitalization of $925.97 million, a P/E ratio of 17.01 and a beta of 1.15. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.67 and a quick ratio of 1.67.
Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.57). Piedmont Office Realty Trust had a return on equity of 3.05% and a net margin of 9.53%. The business had revenue of $146.99 million during the quarter, compared to the consensus estimate of $143.66 million. On average, equities research analysts predict that Piedmont Office Realty Trust will post 1.75 EPS for the current fiscal year.
Piedmont Office Realty Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 24th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 6.68%. The ex-dividend date is Wednesday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio is 113.64%.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th.
About Piedmont Office Realty Trust (Get Free Report)
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 major U.S. Sunbelt markets. Its approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody’s (Baa2).
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Original: MarketBeat News Feed: Piedmont Office Realty Trust, Inc. (NYSE:PDM) Short Interest Update