AQR Capital Management LLC Has $6.21 Million Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

AQR Capital Management LLC decreased its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 21.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 857,120 shares of the real estate investment trust’s stock after selling 235,479 shares during the quarter. AQR Capital Management LLC’s holdings in Piedmont Office Realty Trust were worth $6,214,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Blue Trust Inc. increased its stake in 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 buying an additional 1,288 shares during the period. First Trust Direct Indexing L.P. purchased a new position in shares of Piedmont Office Realty Trust during the 1st quarter valued at $73,000. Meeder Asset Management Inc. acquired a new position in shares of Piedmont Office Realty Trust in the second quarter worth $76,000. Bayesian Capital Management LP acquired a new position in shares of Piedmont Office Realty Trust in the first quarter worth $81,000. Finally, Sei Investments Co. purchased a new stake in shares of Piedmont Office Realty Trust during the second quarter worth $85,000. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Stock Up 0.2 %

Piedmont Office Realty Trust stock opened at $9.79 on Friday. The company has a market capitalization of $1.21 billion, a P/E ratio of -16.05 and a beta of 1.22. Piedmont Office Realty Trust, Inc. has a 1-year low of $4.91 and a 1-year high of $10.28. The firm’s fifty day simple moving average is $9.36 and its 200-day simple moving average is $7.89. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.34.

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

Piedmont Office Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 23rd were given a dividend of $0.125 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 5.11%. Piedmont Office Realty Trust’s payout ratio is currently -81.97%.

Wall Street Analyst Weigh In

PDM has been the topic of a number of recent research reports. StockNews.com upgraded 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 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.