Charles Schwab Investment Management Inc. Sells 456,049 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Charles Schwab Investment Management Inc. trimmed its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 16.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,391,757 shares of the real estate investment trust’s stock after selling 456,049 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.93% of Piedmont Office Realty Trust worth $21,885,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its holdings in Piedmont Office Realty Trust by 51.3% during 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 buying an additional 1,666 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Piedmont Office Realty Trust during the 4th quarter valued at $105,000. Landscape Capital Management L.L.C. bought a new stake in Piedmont Office Realty Trust during the 3rd quarter valued at $123,000. Metis Global Partners LLC bought a new stake in Piedmont Office Realty Trust during the 3rd quarter valued at $129,000. Finally, Proficio Capital Partners LLC bought a new stake in Piedmont Office Realty Trust during the 4th quarter valued at $168,000. 84.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Piedmont Office Realty Trust Stock Down 0.1 %

NYSE:PDM opened at $7.34 on Wednesday. The firm’s 50-day moving average price is $7.96 and its 200-day moving average price is $9.08. The company has a market capitalization of $911.68 million, a PE ratio of -11.64 and a beta of 1.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. Piedmont Office Realty Trust, Inc. has a 1-year low of $6.13 and a 1-year high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $143.23 million for the quarter, compared to the consensus estimate 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, equities analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust’s payout ratio is -79.37%.

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.