Massachusetts Financial Services Co. MA Buys 24,325 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Massachusetts Financial Services Co. MA raised its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 724,814 shares of the real estate investment trust’s stock after purchasing an additional 24,325 shares during the period. Massachusetts Financial Services Co. MA owned 0.59% of Piedmont Office Realty Trust worth $5,255,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Piedmont Office Realty Trust by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,288 shares in the last quarter. Adero Partners LLC bought a new stake in Piedmont Office Realty Trust during the 4th quarter valued at $72,000. First Trust Direct Indexing L.P. acquired a new position in Piedmont Office Realty Trust during the first quarter worth $73,000. Meeder Asset Management Inc. bought a new position in Piedmont Office Realty Trust in the 2nd quarter valued at about $76,000. Finally, Bayesian Capital Management LP acquired a new position in Piedmont Office Realty Trust during the 1st quarter valued at about $81,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Trading Down 2.6 %

Shares of Piedmont Office Realty Trust stock opened at $9.89 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of -16.21 and a beta of 1.22. Piedmont Office Realty Trust, Inc. has a 1 year low of $4.91 and a 1 year high of $10.28. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a fifty day moving average price of $9.05 and a 200-day moving average price of $7.67.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.45). Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. The company had revenue of $143.26 million during the quarter, compared to analysts’ expectations of $141.25 million. Equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 23rd were paid a $0.125 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.50 annualized dividend and a dividend yield of 5.06%. Piedmont Office Realty Trust’s payout ratio is presently -81.97%.

Wall Street Analyst Weigh In

PDM has been the topic of several recent analyst reports. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial restated a “buy” rating and issued a $11.00 target price (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th.

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.