Private Advisor Group LLC Decreases Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Private Advisor Group LLC trimmed its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,131 shares of the real estate investment trust’s stock after selling 1,596 shares during the period. Private Advisor Group LLC’s holdings in Piedmont Office Realty Trust were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. TD Private Client Wealth LLC increased its position in shares of Piedmont Office Realty Trust by 51.3% in the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,666 shares during the period. Arkadios Wealth Advisors bought a new position in shares of Piedmont Office Realty Trust in the fourth quarter worth approximately $105,000. Landscape Capital Management L.L.C. bought a new position in shares of Piedmont Office Realty Trust in the third quarter worth approximately $123,000. Metis Global Partners LLC bought a new position in Piedmont Office Realty Trust during the third quarter valued at approximately $129,000. Finally, Blue Trust Inc. lifted its position in Piedmont Office Realty Trust by 24.6% during the fourth quarter. Blue Trust Inc. now owns 18,923 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 3,739 shares during the period. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Up 2.3 %

Shares of PDM stock opened at $7.33 on Friday. Piedmont Office Realty Trust, Inc. has a 12 month low of $6.13 and a 12 month high of $11.12. The stock has a market cap of $910.44 million, a P/E ratio of -11.63 and a beta of 1.19. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The company has a 50 day simple moving average of $8.24 and a two-hundred day simple moving average of $9.21.

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

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.83%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -79.37%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Robert W. Baird reduced their target price on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Baird R W cut shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Truist Financial reaffirmed a “buy” rating and set a $10.00 target price (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

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.