Sei Investments Co. Purchases Shares of 11,697 Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Sei Investments Co. bought a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,697 shares of the real estate investment trust’s stock, valued at approximately $85,000.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of Piedmont Office Realty Trust by 164.8% during the first quarter. Russell Investments Group Ltd. now owns 272,302 shares of the real estate investment trust’s stock valued at $1,914,000 after purchasing an additional 169,454 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Piedmont Office Realty Trust by 37.5% during the first quarter. Nordea Investment Management AB now owns 830,402 shares of the real estate investment trust’s stock valued at $5,755,000 after buying an additional 226,611 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Piedmont Office Realty Trust by 694.5% during the first quarter. SG Americas Securities LLC now owns 590,715 shares of the real estate investment trust’s stock valued at $4,153,000 after buying an additional 516,367 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Piedmont Office Realty Trust by 16.2% during 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 buying an additional 167,262 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Piedmont Office Realty Trust during the first quarter valued at approximately $3,488,000. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE PDM opened at $9.93 on Friday. The firm’s fifty day moving average is $9.50 and its two-hundred day moving average is $8.03. Piedmont Office Realty Trust, Inc. has a 52-week low of $4.91 and a 52-week high of $10.28. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market cap of $1.23 billion, a P/E ratio of -14.81 and a beta of 1.22.

Piedmont Office Realty Trust (NYSE:PDM) last posted its 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). Piedmont Office Realty Trust had a negative return on equity of 4.84% and a negative net margin of 14.24%. The business had revenue of $143.26 million during the quarter, compared to the consensus estimate of $141.25 million. As a group, analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were paid 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 dividend yield of 5.04%. Piedmont Office Realty Trust’s dividend payout ratio is presently -74.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PDM. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial restated a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th.

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.