Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 18,240 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 84.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,926 shares of the real estate investment trust’s stock after buying an additional 18,240 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Piedmont Office Realty Trust were worth $365,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Piedmont Office Realty Trust in the third quarter valued at about $258,000. Daiwa Securities Group Inc. grew its holdings in Piedmont Office Realty Trust by 8.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 41,454 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 3,233 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Piedmont Office Realty Trust by 358.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust’s stock worth $9,050,000 after buying an additional 700,616 shares during the period. Martingale Asset Management L P increased its position in Piedmont Office Realty Trust by 519.5% in the 3rd quarter. Martingale Asset Management L P now owns 102,996 shares of the real estate investment trust’s stock worth $1,040,000 after buying an additional 86,371 shares during the period. Finally, ClearAlpha Technologies LP acquired a new position in shares of Piedmont Office Realty Trust during the third quarter worth approximately $658,000. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Down 0.2 %

PDM opened at $7.37 on Friday. The company has a market capitalization of $916.26 million, a P/E ratio of -11.69 and a beta of 1.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The firm’s fifty day moving average price is $7.78 and its two-hundred day moving average price is $8.98. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The business had revenue of $143.23 million for the quarter, compared to analysts’ expectations of $142.16 million. On average, analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.79%. Piedmont Office Realty Trust’s payout ratio is presently -79.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PDM. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Truist Financial restated a “buy” rating and set a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Baird R W cut shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird lowered their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th.

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.