Evergreen Capital Management LLC Has $259,000 Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Evergreen Capital Management LLC raised its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 57.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 35,759 shares of the real estate investment trust’s stock after acquiring an additional 13,017 shares during the period. Evergreen Capital Management LLC’s holdings in Piedmont Office Realty Trust were worth $259,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PDM. Vanguard Group Inc. raised its holdings in shares of Piedmont Office Realty Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock valued at $135,115,000 after purchasing an additional 394,282 shares during the last quarter. Private Management Group Inc. lifted its position in Piedmont Office Realty Trust by 0.3% during the 1st quarter. Private Management Group Inc. now owns 4,631,310 shares of the real estate investment trust’s stock worth $32,558,000 after buying an additional 14,784 shares in the last quarter. Wilsey Asset Management Inc. boosted its stake in shares of 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 buying an additional 1,302,681 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Piedmont Office Realty Trust by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust’s stock worth $12,467,000 after buying an additional 14,831 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at about $9,642,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial reiterated a “buy” rating and set 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 Stock Performance

Shares of PDM opened at $9.94 on Friday. The company has a market cap of $1.23 billion, a PE ratio of -16.30 and a beta of 1.22. The firm has a 50-day moving average of $9.23 and a 200-day moving average of $7.79. Piedmont Office Realty Trust, Inc. has a one year low of $4.91 and a one year high of $10.28. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.40 and a quick ratio of 2.40.

Piedmont Office Realty Trust (NYSE:PDM) last released 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). Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. The business had revenue of $143.26 million during the quarter, compared to analyst estimates of $141.25 million. As a group, equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.03%. The ex-dividend date was Friday, August 23rd. Piedmont Office Realty Trust’s payout ratio is presently -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.