Piedmont Office Realty Trust, Inc. (NYSE:PDM) Stake Increased by Blue Trust Inc.

Blue Trust Inc. increased its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 38.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,654 shares of the real estate investment trust’s stock after purchasing an additional 1,288 shares during the quarter. Blue Trust Inc.’s holdings in Piedmont Office Realty Trust were worth $33,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PDM. Wilsey Asset Management Inc. boosted its position in Piedmont Office Realty Trust by 50.2% during the 2nd quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock worth $28,274,000 after acquiring an additional 1,302,681 shares during the period. Vanderbilt University acquired a new stake in shares of Piedmont Office Realty Trust during the second quarter worth approximately $154,000. Wealth Enhancement Advisory Services LLC grew its position in Piedmont Office Realty Trust by 11.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,994 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 3,394 shares in the last quarter. Swedbank AB acquired a new position in Piedmont Office Realty Trust in the 1st quarter valued at approximately $3,488,000. Finally, Tidal Investments LLC lifted its position in Piedmont Office Realty Trust by 72.1% in the 1st quarter. Tidal Investments LLC now owns 36,749 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 15,398 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PDM has been the topic of a number of research reports. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

Piedmont Office Realty Trust Stock Performance

PDM stock opened at $9.35 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -15.33 and a beta of 1.21. The firm has a 50 day moving average of $8.06 and a two-hundred day moving average of $7.18. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 1.34. Piedmont Office Realty Trust, Inc. has a 12 month low of $4.91 and a 12 month high of $9.36.

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

Piedmont Office Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 23rd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is 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.