Rhumbline Advisers Acquires 1,954 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Rhumbline Advisers boosted its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,700 shares of the real estate investment trust’s stock after acquiring an additional 1,954 shares during the quarter. Rhumbline Advisers owned about 0.18% of Piedmont Office Realty Trust worth $2,083,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PDM. Asset Management One Co. Ltd. raised its stake in shares of Piedmont Office Realty Trust by 3.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 195,038 shares of the real estate investment trust’s stock valued at $1,718,000 after acquiring an additional 6,149 shares during the period. Van ECK Associates Corp raised its holdings in shares of Piedmont Office Realty Trust by 23.1% in the 4th quarter. Van ECK Associates Corp now owns 30,299 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 5,687 shares in the last quarter. Wilsey Asset Management Inc. lifted its position in shares of Piedmont Office Realty Trust by 2.0% in the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust’s stock worth $36,175,000 after purchasing an additional 77,220 shares during the period. Choreo LLC increased its holdings in shares of Piedmont Office Realty Trust by 4.0% in the 4th quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust’s stock valued at $484,000 after acquiring an additional 2,078 shares during the period. Finally, abrdn plc lifted its position in shares of Piedmont Office Realty Trust by 30.6% during the fourth quarter. abrdn plc now owns 31,794 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 7,453 shares during the last quarter. 84.48% of the stock is owned by institutional investors.

Piedmont Office Realty Trust Stock Performance

NYSE:PDM opened at $7.39 on Tuesday. Piedmont Office Realty Trust, Inc. has a twelve month low of $5.95 and a twelve month high of $11.11. The company has a market cap of $918.52 million, a P/E ratio of -11.73 and a beta of 1.19. The company’s 50-day moving average price is $8.34 and its 200-day moving average price is $9.25. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The firm had revenue of $143.23 million for the quarter, compared to analyst estimates of $142.16 million. On average, sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PDM. Robert W. Baird decreased their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Truist Financial reaffirmed a “buy” rating and issued a $10.00 price objective (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Finally, Baird R W cut shares of 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 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.