Commonwealth Equity Services LLC Sells 2,578 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Commonwealth Equity Services LLC decreased its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,373 shares of the real estate investment trust’s stock after selling 2,578 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Piedmont Office Realty Trust worth $836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PDM. Brookfield Corp ON purchased a new position in shares of Piedmont Office Realty Trust during the third quarter valued at approximately $7,123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Piedmont Office Realty Trust by 358.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust’s stock worth $9,050,000 after purchasing an additional 700,616 shares during the period. JPMorgan Chase & Co. grew its position in Piedmont Office Realty Trust by 45.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock worth $15,501,000 after purchasing an additional 478,560 shares during the period. Raymond James Financial Inc. purchased a new stake in Piedmont Office Realty Trust during the 4th quarter valued at $1,313,000. Finally, Barclays PLC lifted its holdings in shares of Piedmont Office Realty Trust by 88.7% during the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock valued at $2,398,000 after buying an additional 111,596 shares during the period. Institutional investors own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Truist Financial restated a “buy” rating and issued a $10.00 price target (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. Baird R W downgraded Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird cut their price objective 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.

Piedmont Office Realty Trust Stock Performance

Shares of Piedmont Office Realty Trust stock opened at $7.56 on Thursday. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The stock’s fifty day moving average is $7.67 and its two-hundred day moving average is $8.91. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.27 and a 52 week high of $11.12. The company has a market capitalization of $940.52 million, a PE ratio of -12.00 and a beta of 1.25.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $143.23 million for 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%. As a group, 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 declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.61%. Piedmont Office Realty Trust’s payout ratio is -79.37%.

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.