Daiwa Securities Group Inc. Boosts Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Daiwa Securities Group Inc. lifted its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,454 shares of the real estate investment trust’s stock after buying an additional 3,233 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Piedmont Office Realty Trust were worth $419,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in 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 worth $135,115,000 after acquiring an additional 394,282 shares during the period. Wilsey Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 50.2% in the second quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock worth $28,274,000 after purchasing an additional 1,302,681 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Piedmont Office Realty Trust by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust’s stock worth $12,467,000 after buying an additional 14,831 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Piedmont Office Realty Trust by 47.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock valued at $10,802,000 after buying an additional 344,694 shares during the period. Finally, Marshall Wace LLP grew its position in Piedmont Office Realty Trust by 7,041.3% during the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after buying an additional 901,292 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Price Performance

Shares of Piedmont Office Realty Trust stock opened at $9.52 on Friday. The firm has a market cap of $1.18 billion, a PE ratio of -15.35 and a beta of 1.21. The company’s fifty day simple moving average is $10.01 and its two-hundred day simple moving average is $8.83. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.93 and a 12-month high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. The business had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $143.56 million. During the same quarter in the prior year, the firm earned $0.43 EPS. As a group, equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -80.65%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PDM. Robert W. Baird raised their price objective on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial restated a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research report 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.