Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 10.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,847,806 shares of the real estate investment trust’s stock after selling 329,317 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.30% of Piedmont Office Realty Trust worth $28,763,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PDM. Price T Rowe Associates Inc. MD increased its stake in shares of Piedmont Office Realty Trust by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,242 shares of the real estate investment trust’s stock worth $705,000 after buying an additional 5,386 shares during the period. Tidal Investments LLC increased its stake in shares of Piedmont Office Realty Trust by 72.1% during the first quarter. Tidal Investments LLC now owns 36,749 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 15,398 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Piedmont Office Realty Trust by 11.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,994 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 3,394 shares during the period. Vanderbilt University purchased a new stake in shares of Piedmont Office Realty Trust during the second quarter worth approximately $154,000. Finally, Wilsey Asset Management Inc. increased its stake in shares of Piedmont Office Realty Trust by 50.2% during the second quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock worth $28,274,000 after buying an additional 1,302,681 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

PDM has been the topic of a number of recent research reports. Truist Financial restated a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th. Robert W. Baird increased their price target on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Piedmont Office Realty Trust Stock Performance

Shares of Piedmont Office Realty Trust stock opened at $9.26 on Thursday. The firm has a market capitalization of $1.15 billion, a P/E ratio of -14.85 and a beta of 1.20. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.93 and a 52 week high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average is $9.98 and its two-hundred day moving average is $8.88.

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

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.40%. The ex-dividend date is Friday, November 22nd. Piedmont Office Realty Trust’s payout ratio is currently -80.65%.

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.