Creative Planning Has $387,000 Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Creative Planning raised its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 7.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 53,425 shares of the real estate investment trust’s stock after buying an additional 3,496 shares during the quarter. Creative Planning’s holdings in Piedmont Office Realty Trust were worth $387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PDM. Vanguard Group Inc. boosted its position in shares of Piedmont Office Realty Trust by 2.1% during the 1st 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 in the last quarter. Private Management Group Inc. increased its position in shares of Piedmont Office Realty Trust by 0.3% during the first quarter. Private Management Group Inc. now owns 4,631,310 shares of the real estate investment trust’s stock valued at $32,558,000 after acquiring an additional 14,784 shares during the last quarter. Wilsey Asset Management Inc. grew its holdings in Piedmont Office Realty Trust by 50.2% during the second quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock valued at $28,274,000 after purchasing an additional 1,302,681 shares during the period. Dimensional Fund Advisors LP grew its holdings in Piedmont Office Realty Trust by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust’s stock valued at $12,467,000 after purchasing an additional 14,831 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 worth $8,548,000 after acquiring an additional 167,262 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Ratings Changes

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

Piedmont Office Realty Trust Price Performance

Shares of PDM opened at $10.82 on Thursday. The firm has a market cap of $1.34 billion, a PE ratio of -17.73 and a beta of 1.22. 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 firm has a fifty day simple moving average of $9.64 and a two-hundred day simple moving average of $8.11. Piedmont Office Realty Trust, Inc. has a 1-year low of $4.91 and a 1-year high of $10.85.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.45). The firm had revenue of $143.26 million during the quarter, compared to the consensus estimate 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%. On average, equities analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend was Friday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio is -81.97%.

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.