Private Management Group Inc. Has $35.81 Million Stock Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Private Management Group Inc. lessened its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,913,879 shares of the real estate investment trust's stock after selling 257,540 shares during the quarter. Piedmont Office Realty Trust comprises about 1.3% of Private Management Group Inc.'s portfolio, making the stock its 15th largest holding. Private Management Group Inc. owned approximately 3.16% of Piedmont Office Realty Trust worth $35,812,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PDM. Mirae Asset Global Investments Co. Ltd. lifted its position in Piedmont Office Realty Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 1,241 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Piedmont Office Realty Trust by 51.3% during the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,666 shares during the period. Sei Investments Co. acquired a new stake in Piedmont Office Realty Trust during the 2nd quarter worth approximately $85,000. Mackenzie Financial Corp bought a new stake in Piedmont Office Realty Trust in the 2nd quarter valued at $98,000. Finally, Optas LLC acquired a new position in Piedmont Office Realty Trust in the 3rd quarter valued at $101,000. Institutional investors own 84.48% of the company's stock.

Piedmont Office Realty Trust Price Performance

Shares of NYSE:PDM traded down $0.08 during trading on Friday, reaching $8.43. 424,071 shares of the company traded hands, compared to its average volume of 549,619. The firm has a market capitalization of $1.05 billion, a PE ratio of -13.60 and a beta of 1.19. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.93 and a 52 week high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. The company's 50 day moving average is $8.87 and its two-hundred day moving average is $9.37.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.50 annualized dividend and a yield of 5.93%. Piedmont Office Realty Trust's dividend payout ratio is -80.64%.

Analyst Ratings Changes

PDM has been the subject of a number of research reports. StockNews.com downgraded Piedmont Office Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, January 20th. Robert W. Baird cut shares of Piedmont Office Realty Trust from an "outperform" rating to a "neutral" rating and set a $11.00 price objective for the company. in a research note on Thursday, January 16th. Finally, Baird R W lowered shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th.

Piedmont Office Realty Trust Company 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.