Northern Trust Corp Buys 89,753 Shares of Piedmont Office Realty Trust, Inc. (PDM)

Northern Trust Corp Buys 89,753 Shares of Piedmont Office Realty Trust, Inc. (PDM)

Northern Trust Corp increased its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 4.2% during the third quarter, Holdings Channel reports. The firm owned 2,215,983 shares of the real estate investment trust’s stock after buying an additional 89,753 shares during the period. Northern Trust Corp owned 1.53% of Piedmont Office Realty Trust worth $48,241,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado boosted its position in Piedmont Office Realty Trust by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 4,666 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 18 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Piedmont Office Realty Trust by 0.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,864 shares of the real estate investment trust’s stock worth $520,000 after buying an additional 134 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Piedmont Office Realty Trust by 3.8% in the third quarter. Daiwa Securities Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 200 shares during the last quarter. BlackRock Advisors LLC boosted its position in Piedmont Office Realty Trust by 0.6% in the third quarter. BlackRock Advisors LLC now owns 80,352 shares of the real estate investment trust’s stock worth $1,749,000 after buying an additional 474 shares during the last quarter. Finally, Investors Capital Advisory Services boosted its position in Piedmont Office Realty Trust by 1.1% in the second quarter. Investors Capital Advisory Services now owns 44,591 shares of the real estate investment trust’s stock worth $960,000 after buying an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 84.18% of the company’s stock.

Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) traded down 1.51% during midday trading on Friday, reaching $21.56. The company’s stock had a trading volume of 537,890 shares. The company has a market capitalization of $3.13 billion, a P/E ratio of 15.44 and a beta of 0.60. The stock’s 50-day moving average is $20.83 and its 200-day moving average is $20.86. Piedmont Office Realty Trust, Inc. has a one year low of $16.93 and a one year high of $22.28.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, November 25th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.84%. Piedmont Office Realty Trust’s payout ratio is currently 61.31%.

A number of equities analysts recently issued reports on PDM shares. Zacks Investment Research upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday. Stifel Nicolaus upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating and boosted their price objective for the company from $18.00 to $20.50 in a report on Monday. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.88.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (Piedmont) is an integrated self-managed real estate investment trust specializing in the acquisition, ownership, management, development and disposition of primarily Class A office buildings located in the United States office markets. The Company operates through its real estate assets segment.

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