Rhumbline Advisers Has $1.69 Million Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Rhumbline Advisers increased its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,204 shares of the real estate investment trust’s stock after buying an additional 5,532 shares during the quarter. Rhumbline Advisers owned about 0.19% of Piedmont Office Realty Trust worth $1,691,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Piedmont Office Realty Trust by 38.3% during the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,288 shares in the last quarter. Adero Partners LLC bought a new stake in Piedmont Office Realty Trust during the fourth quarter worth $72,000. First Trust Direct Indexing L.P. bought a new stake in Piedmont Office Realty Trust during the first quarter worth $73,000. Bayesian Capital Management LP bought a new stake in Piedmont Office Realty Trust during the first quarter worth $81,000. Finally, Scharf Investments LLC lifted its stake in Piedmont Office Realty Trust by 18.8% during the first quarter. Scharf Investments LLC now owns 15,658 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 2,475 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PDM shares. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial restated a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th.

Piedmont Office Realty Trust Stock Down 2.6 %

Shares of PDM opened at $9.89 on Friday. Piedmont Office Realty Trust, Inc. has a 52 week low of $4.91 and a 52 week high of $10.28. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.34. The stock has a fifty day moving average of $9.01 and a 200-day moving average of $7.63.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.45). Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. The firm had revenue of $143.26 million during the quarter, compared to the consensus estimate of $141.25 million. As a group, research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Friday, August 23rd. Piedmont Office Realty Trust’s payout ratio is -81.97%.

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.