Wealth Enhancement Advisory Services LLC Has $239,000 Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 11.5% in the second quarter, Holdings Channel reports. The institutional investor owned 32,994 shares of the real estate investment trust’s stock after purchasing an additional 3,394 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Piedmont Office Realty Trust were worth $239,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PDM. Swedbank AB bought a new position in Piedmont Office Realty Trust during the first quarter valued at about $3,488,000. Tidal Investments LLC increased its position in shares of Piedmont Office Realty Trust by 72.1% during the first quarter. Tidal Investments LLC now owns 36,749 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 15,398 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Piedmont Office Realty Trust in the first quarter valued at $81,000. Price T Rowe Associates Inc. MD lifted its position in Piedmont Office Realty Trust by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 100,242 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 5,386 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in Piedmont Office Realty Trust by 24.7% during the first quarter. Quadrature Capital Ltd now owns 32,640 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 6,467 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial reissued a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM opened at $9.46 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.40 and a quick ratio of 2.40. The business’s fifty day moving average price is $8.15 and its two-hundred day moving average price is $7.23. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $9.58. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.51 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.45). The firm had revenue of $143.26 million during the quarter, compared to analyst estimates of $141.25 million. Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. As a group, analysts predict 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 announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders 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 5.29%. The ex-dividend date is Friday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -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.