Geode Capital Management LLC Has $32.50 Million Stock Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Geode Capital Management LLC lifted its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,217,213 shares of the real estate investment trust’s stock after purchasing an additional 48,944 shares during the period. Geode Capital Management LLC owned 2.59% of Piedmont Office Realty Trust worth $32,499,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PDM. Marshall Wace LLP lifted its holdings in Piedmont Office Realty Trust by 7,041.3% during the 2nd quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after buying an additional 901,292 shares during the period. Brookfield Corp ON acquired a new position in shares of Piedmont Office Realty Trust in the third quarter worth approximately $7,123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Piedmont Office Realty Trust by 358.6% during 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 valued at $9,050,000 after purchasing an additional 700,616 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Piedmont Office Realty Trust by 47.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock worth $10,802,000 after purchasing an additional 344,694 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Piedmont Office Realty Trust in the 3rd quarter worth approximately $1,812,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Trading Up 1.6 %

NYSE PDM opened at $8.91 on Thursday. The stock has a market capitalization of $1.10 billion, a P/E ratio of -14.37 and a beta of 1.20. The business has a 50 day simple moving average of $9.69 and a 200 day simple moving average of $9.09. 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, Inc. has a one year low of $5.93 and a one year high of $11.11.

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 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 the consensus estimate 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 firm earned $0.43 EPS. Research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.50 annualized dividend and a dividend yield of 5.61%. Piedmont Office Realty Trust’s dividend payout ratio is presently -80.65%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted 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.

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.