Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Acquired by TD Private Client Wealth LLC

TD Private Client Wealth LLC increased its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 51.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,916 shares of the real estate investment trust’s stock after purchasing an additional 1,666 shares during the quarter. TD Private Client Wealth LLC’s holdings in Piedmont Office Realty Trust were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its position in Piedmont Office Realty Trust by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust’s stock valued at $32,499,000 after acquiring an additional 48,944 shares in the last quarter. Barclays PLC grew its holdings in Piedmont Office Realty Trust by 88.7% during the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock worth $2,398,000 after acquiring an additional 111,596 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Piedmont Office Realty Trust by 1.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 166,383 shares of the real estate investment trust’s stock worth $1,680,000 after acquiring an additional 2,300 shares during the period. Brookfield Corp ON acquired a new position in Piedmont Office Realty Trust during the third quarter worth $7,123,000. Finally, Jane Street Group LLC grew its holdings in Piedmont Office Realty Trust by 10.1% during the third quarter. Jane Street Group LLC now owns 318,924 shares of the real estate investment trust’s stock worth $3,221,000 after acquiring an additional 29,139 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Stock Up 0.1 %

PDM opened at $9.37 on Tuesday. The business’s fifty day moving average is $9.87 and its two-hundred day moving average is $9.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -15.11 and a beta of 1.20. Piedmont Office Realty Trust, Inc. has a one year low of $5.93 and a one year high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. The firm had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $143.56 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be given a $0.125 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.50 annualized dividend and a dividend yield of 5.34%. Piedmont Office Realty Trust’s dividend payout ratio is currently -80.65%.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their price objective on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

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.