Public Employees Retirement Association of Colorado Sells 4,597 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Public Employees Retirement Association of Colorado lowered its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 22.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,871 shares of the real estate investment trust’s stock after selling 4,597 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Piedmont Office Realty Trust were worth $115,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Piedmont Office Realty Trust by 38.3% during the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,288 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Piedmont Office Realty Trust during the 1st quarter valued at about $73,000. Meeder Asset Management Inc. bought a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter valued at $76,000. Bayesian Capital Management LP bought a new position in Piedmont Office Realty Trust in the 1st quarter worth $81,000. Finally, Scharf Investments LLC grew its holdings in Piedmont Office Realty Trust by 18.8% during the 1st quarter. Scharf Investments LLC now owns 15,658 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 2,475 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PDM. Truist Financial reissued a “buy” rating and set 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 Price Performance

Piedmont Office Realty Trust stock opened at $9.94 on Monday. The company has a 50-day moving average price of $9.23 and a 200 day moving average price of $7.81. Piedmont Office Realty Trust, Inc. has a 12-month low of $4.91 and a 12-month high of $10.28. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.23 billion, a P/E ratio of -16.30 and a beta of 1.22.

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 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 firm had revenue of $143.26 million during the quarter, compared to analysts’ expectations of $141.25 million. Sell-side analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were issued a $0.125 dividend. 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 (DPR) 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.