Piedmont Office Realty Trust, Inc. (NYSE:PDM) is Wilsey Asset Management Inc.’s 6th Largest Position

Wilsey Asset Management Inc. increased its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,953,542 shares of the real estate investment trust’s stock after buying an additional 77,220 shares during the quarter. Piedmont Office Realty Trust comprises about 6.7% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Wilsey Asset Management Inc. owned 3.19% of Piedmont Office Realty Trust worth $36,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Piedmont Office Realty Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,241 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Piedmont Office Realty Trust by 51.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,666 shares in the last quarter. Optas LLC purchased a new stake in Piedmont Office Realty Trust during the 3rd quarter worth $101,000. Arkadios Wealth Advisors acquired a new position in Piedmont Office Realty Trust in the 4th quarter worth $105,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Piedmont Office Realty Trust in the 3rd quarter valued at about $123,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PDM. Baird R W downgraded Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, January 20th. Finally, Robert W. Baird lowered 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 report on Thursday, January 16th.

Piedmont Office Realty Trust Trading Down 0.9 %

Shares of NYSE:PDM opened at $8.43 on Monday. The company has a 50 day moving average of $8.87 and a 200-day moving average of $9.37. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.05 billion, a P/E ratio of -13.60 and a beta of 1.19. Piedmont Office Realty Trust, Inc. has a twelve month low of $5.93 and a twelve month high of $11.11.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a yield of 5.93%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -80.65%.

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.