Choreo LLC Invests $394,000 in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Choreo LLC acquired a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,242 shares of the real estate investment trust’s stock, valued at approximately $394,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PDM. Blue Trust Inc. boosted its stake in shares of Piedmont Office Realty Trust by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,288 shares in the last quarter. Adero Partners LLC acquired a new stake in Piedmont Office Realty Trust in the fourth quarter valued at approximately $72,000. First Trust Direct Indexing L.P. bought a new stake in shares of Piedmont Office Realty Trust during the first quarter worth $73,000. Bayesian Capital Management LP acquired a new position in shares of Piedmont Office Realty Trust during the first quarter worth $81,000. Finally, Scharf Investments LLC lifted its stake in shares of Piedmont Office Realty Trust by 18.8% in the 1st quarter. Scharf Investments LLC now owns 15,658 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 2,475 shares during the last quarter. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Price Performance

PDM stock opened at $10.04 on Tuesday. The company has a market capitalization of $1.24 billion, a P/E ratio of -16.45 and a beta of 1.22. The company has a fifty day moving average price of $8.87 and a 200-day moving average price of $7.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.40 and a current ratio of 2.40. Piedmont Office Realty Trust, Inc. has a 52-week low of $4.91 and a 52-week high of $10.10.

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

Piedmont Office Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 23rd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.98%. The ex-dividend date is Friday, August 23rd. Piedmont Office Realty Trust’s payout ratio is presently -81.97%.

Analyst Ratings Changes

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

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.