Intech Investment Management LLC Makes New Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Intech Investment Management LLC purchased a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,591 shares of the real estate investment trust’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilsey Asset Management Inc. increased its position in shares of Piedmont Office Realty Trust by 50.2% in the 2nd quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock valued at $28,274,000 after buying an additional 1,302,681 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Piedmont Office Realty Trust by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust’s stock valued at $12,467,000 after acquiring an additional 14,831 shares during the period. Marshall Wace LLP increased its holdings in shares of Piedmont Office Realty Trust by 7,041.3% in the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after acquiring an additional 901,292 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Piedmont Office Realty Trust by 13.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 727,347 shares of the real estate investment trust’s stock worth $7,346,000 after purchasing an additional 87,618 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Piedmont Office Realty Trust by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 724,814 shares of the real estate investment trust’s stock valued at $5,255,000 after purchasing an additional 24,325 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Stock Down 0.5 %

Piedmont Office Realty Trust stock opened at $9.21 on Friday. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $11.11. The firm has a market capitalization of $1.14 billion, a PE ratio of -14.94 and a beta of 1.20. The company’s 50-day moving average is $9.97 and its 200-day moving average is $8.88. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22.

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

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend is Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -80.64%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PDM shares. Robert W. Baird upped their target price on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Office Realty Trust in a research report 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.