Hsbc Holdings PLC Increases Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Hsbc Holdings PLC lifted its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 15.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 116,479 shares of the real estate investment trust’s stock after purchasing an additional 15,584 shares during the period. Hsbc Holdings PLC’s holdings in Piedmont Office Realty Trust were worth $840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Piedmont Office Realty Trust by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 142,768 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 31,145 shares during the last quarter. Norges Bank acquired a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth about $9,642,000. Nomura Asset Management Co. Ltd. lifted its stake in Piedmont Office Realty Trust by 9.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 155,183 shares of the real estate investment trust’s stock worth $1,103,000 after purchasing an additional 13,498 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Piedmont Office Realty Trust by 16.2% in the fourth quarter. Wellington Management Group LLP now owns 1,202,281 shares of the real estate investment trust’s stock valued at $8,548,000 after purchasing an additional 167,262 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Piedmont Office Realty Trust by 79.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 25,840 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 11,425 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Ratings Changes

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

Piedmont Office Realty Trust Trading Down 1.0 %

NYSE:PDM opened at $9.94 on Monday. The company has a market capitalization of $1.23 billion, a PE ratio of -16.30 and a beta of 1.22. Piedmont Office Realty Trust, Inc. has a 52-week low of $4.91 and a 52-week high of $10.28. The stock’s 50 day moving average price is $9.23 and its 200 day moving average price is $7.81. 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 (NYSE:PDM) last announced its 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). The business 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%. On average, research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.50 annualized dividend and a yield of 5.03%. Piedmont Office Realty Trust’s dividend payout ratio is currently -81.97%.

About Piedmont Office Realty Trust

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.