1,518,743 Shares in Piedmont Office Realty Trust, Inc. (PDM) Acquired by Norges Bank

Norges Bank bought a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,518,743 shares of the real estate investment trust’s stock, valued at approximately $25,879,000. Norges Bank owned 1.21% of Piedmont Office Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDM. Nordea Investment Management AB bought a new position in shares of Piedmont Office Realty Trust during the 4th quarter worth about $4,174,000. HRT Financial LLC bought a new stake in Piedmont Office Realty Trust during the fourth quarter worth about $277,000. Metropolitan Life Insurance Co. NY boosted its stake in Piedmont Office Realty Trust by 199.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 48,357 shares of the real estate investment trust’s stock worth $824,000 after acquiring an additional 32,215 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Piedmont Office Realty Trust by 870.1% during the fourth quarter. Squarepoint Ops LLC now owns 230,599 shares of the real estate investment trust’s stock worth $3,929,000 after acquiring an additional 206,828 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in Piedmont Office Realty Trust by 51.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 100,607 shares of the real estate investment trust’s stock worth $1,714,000 after acquiring an additional 34,060 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Shares of NYSE PDM opened at $20.51 on Friday. The company has a market capitalization of $2.58 billion, a PE ratio of 11.86, a PEG ratio of 1.96 and a beta of 0.81. Piedmont Office Realty Trust, Inc. has a 52-week low of $16.43 and a 52-week high of $21.35. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.75 and a current ratio of 1.75.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, February 5th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.09). Piedmont Office Realty Trust had a return on equity of 7.47% and a net margin of 24.77%. The firm had revenue of $137.20 million during the quarter, compared to the consensus estimate of $125.41 million. During the same quarter in the prior year, the company posted $0.42 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.77 earnings per share for the current year.

Several equities research analysts recently commented on PDM shares. Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Stifel Nicolaus raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $16.00 to $20.00 in a research note on Thursday, February 7th. Finally, Robert W. Baird downgraded shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $22.33.

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About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

See Also: Real Estate Investment Trust (REIT) ETF

Institutional Ownership by Quarter for Piedmont Office Realty Trust (NYSE:PDM)

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