Piedmont Office Realty Trust, Inc. (NYSE:PDM) Short Interest Up 20.4% in April

Piedmont Office Realty Trust, Inc. (NYSE:PDMGet Rating) saw a significant growth in short interest in April. As of April 30th, there was short interest totalling 1,770,000 shares, a growth of 20.4% from the April 15th total of 1,470,000 shares. Based on an average daily trading volume, of 848,300 shares, the short-interest ratio is currently 2.1 days. Currently, 1.5% of the shares of the stock are sold short.

PDM has been the subject of several research analyst reports. Zacks Investment Research cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. StockNews.com raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday.

PDM stock traded down $0.16 during trading on Thursday, hitting $14.92. The company had a trading volume of 1,533 shares, compared to its average volume of 998,097. The firm has a 50-day moving average price of $16.39 and a 200-day moving average price of $17.48. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.91. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 37.70 and a beta of 0.94. Piedmont Office Realty Trust has a 12 month low of $14.56 and a 12 month high of $20.35.

Piedmont Office Realty Trust (NYSE:PDMGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Piedmont Office Realty Trust had a return on equity of 2.69% and a net margin of 9.24%. The company had revenue of $136.15 million for the quarter, compared to analyst estimates of $135.88 million. Equities analysts expect that Piedmont Office Realty Trust will post 2.04 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Friday, May 27th will be given a $0.21 dividend. The ex-dividend date is Thursday, May 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.63%. Piedmont Office Realty Trust’s dividend payout ratio is 210.00%.

In other Piedmont Office Realty Trust news, Director Glenn Gary Cohen bought 5,000 shares of Piedmont Office Realty Trust stock in a transaction dated Tuesday, May 3rd. The stock was bought at an average price of $16.15 per share, for a total transaction of $80,750.00. Following the completion of the acquisition, the director now directly owns 22,408 shares of the company’s stock, valued at $361,889.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Laura P. Moon sold 7,627 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $16.09, for a total value of $122,718.43. Following the transaction, the chief accounting officer now directly owns 47,001 shares in the company, valued at $756,246.09. The disclosure for this sale can be found here. Insiders acquired 11,500 shares of company stock worth $183,525 in the last ninety days. 1.13% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PDM. Riverview Trust Co bought a new stake in Piedmont Office Realty Trust in the 1st quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Piedmont Office Realty Trust in the 4th quarter valued at $29,000. Prospera Financial Services Inc acquired a new stake in Piedmont Office Realty Trust in the 1st quarter valued at $29,000. Zullo Investment Group Inc. bought a new stake in Piedmont Office Realty Trust during the 4th quarter worth about $45,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Piedmont Office Realty Trust during the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 82.61% of the company’s stock.

Piedmont Office Realty Trust Company Profile (Get Rating)

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 select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

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