Choreo LLC Has $484,000 Stock Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Choreo LLC grew its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 54,024 shares of the real estate investment trust’s stock after purchasing an additional 2,078 shares during the period. Choreo LLC’s holdings in Piedmont Office Realty Trust were worth $484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Piedmont Office Realty Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,241 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Piedmont Office Realty Trust by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 1,311 shares during the last quarter. abrdn plc increased its position in Piedmont Office Realty Trust by 5.9% during the 3rd quarter. abrdn plc now owns 24,341 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 1,366 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,666 shares during the last quarter. Finally, CWM LLC boosted its position in Piedmont Office Realty Trust by 15.1% in the third quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 1,678 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

PDM has been the subject of several research analyst reports. Robert W. Baird downgraded shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Thursday, January 16th. StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, January 20th. Finally, Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th.

Piedmont Office Realty Trust Price Performance

PDM stock opened at $8.17 on Wednesday. The company has a market capitalization of $1.01 billion, a P/E ratio of -13.17 and a beta of 1.19. The company has a fifty day moving average price of $8.83 and a 200-day moving average price of $9.37. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. Piedmont Office Realty Trust, Inc. has a 52-week low of $5.93 and a 52-week high of $11.11.

Piedmont Office Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend is Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is currently -80.64%.

About Piedmont Office Realty Trust

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.