Proficio Capital Partners LLC Invests $168,000 in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Proficio Capital Partners LLC bought a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,401 shares of the real estate investment trust’s stock, valued at approximately $168,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hudson Edge Investment Partners Inc. raised its position in shares of Piedmont Office Realty Trust by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 1,180 shares in the last quarter. Metis Global Partners LLC grew its stake in Piedmont Office Realty Trust by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust’s stock worth $130,000 after purchasing an additional 1,453 shares during the period. TD Private Client Wealth LLC grew its stake in Piedmont Office Realty Trust by 51.3% during the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,666 shares during the period. Quantinno Capital Management LP increased its holdings in Piedmont Office Realty Trust by 8.7% in the third quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Piedmont Office Realty Trust by 0.9% in the fourth quarter. Rhumbline Advisers now owns 227,700 shares of the real estate investment trust’s stock valued at $2,083,000 after buying an additional 1,954 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Price Performance

PDM stock opened at $7.37 on Friday. The company has a market capitalization of $916.26 million, a P/E ratio of -11.69 and a beta of 1.25. Piedmont Office Realty Trust, Inc. has a 52-week low of $6.27 and a 52-week high of $11.12. The business has a 50-day simple moving average of $7.78 and a two-hundred day simple moving average of $8.98. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10.

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 for the quarter, meeting the consensus estimate of $0.37. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The business had revenue of $143.23 million for the quarter, compared to analysts’ expectations of $142.16 million. Research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s payout ratio is -79.37%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. 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. Robert W. Baird cut their target price on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. 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, Truist Financial restated a “buy” rating and set a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

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.