Piedmont Office Realty Trust, Inc. (NYSE:PDM) Holdings Boosted by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 37.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 830,402 shares of the real estate investment trust's stock after purchasing an additional 226,611 shares during the quarter. Nordea Investment Management AB owned 0.67% of Piedmont Office Realty Trust worth $5,755,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sigma Planning Corp acquired a new stake in Piedmont Office Realty Trust in the fourth quarter valued at about $71,000. Adero Partners LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at approximately $72,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Piedmont Office Realty Trust in the first quarter valued at approximately $73,000. Scharf Investments LLC purchased a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $94,000. Finally, Inceptionr LLC acquired a new position in Piedmont Office Realty Trust during the fourth quarter worth $98,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Piedmont Office Realty Trust Price Performance

PDM stock traded down $0.04 during trading on Wednesday, reaching $7.48. 899,770 shares of the company were exchanged, compared to its average volume of 903,576. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.90 and a current ratio of 1.90. The stock's 50 day moving average price is $7.15 and its 200 day moving average price is $6.88. Piedmont Office Realty Trust, Inc. has a 52-week low of $4.91 and a 52-week high of $8.05. The company has a market cap of $926.08 million, a P/E ratio of -12.25 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.61). The company had revenue of $144.54 million for the quarter, compared to analyst estimates of $143.41 million. Piedmont Office Realty Trust had a negative net margin of 12.90% and a negative return on equity of 4.29%. As a group, analysts predict that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date was Thursday, May 23rd. Piedmont Office Realty Trust's dividend payout ratio is currently -81.97%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, June 29th.

Piedmont Office Realty Trust Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") 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. 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 Standard & Poor's and Moody's.