Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,847,806 shares of the real estate investment trust’s stock after selling 329,317 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Piedmont Office Realty Trust were worth $28,763,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wilsey Asset Management Inc. lifted its holdings in 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 valued at $28,274,000 after acquiring an additional 1,302,681 shares during the period. Marshall Wace LLP lifted its holdings in Piedmont Office Realty Trust by 7,041.3% in the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock valued at $6,627,000 after acquiring an additional 901,292 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Piedmont Office Realty Trust by 47.6% in 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 acquiring an additional 344,694 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Piedmont Office Realty Trust in the third quarter valued at $1,812,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Piedmont Office Realty Trust by 13.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 727,347 shares of the real estate investment trust’s stock valued at $7,346,000 after acquiring an additional 87,618 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial reissued a “buy” rating and issued a $11.00 target price (up previously from $10.00) on shares of Piedmont Office Realty Trust in a report on Wednesday, August 14th. Robert W. Baird raised their target price on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

Piedmont Office Realty Trust Trading Up 0.5 %

Shares of PDM stock opened at $9.26 on Thursday. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $11.11. The stock has a market cap of $1.15 billion, a P/E ratio of -14.85 and a beta of 1.20. The business has a fifty day simple moving average of $9.98 and a 200-day simple moving average of $8.88. 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 (NYSE:PDM) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share 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 firm had revenue of $139.29 million during the quarter, compared to analysts’ expectations of $143.56 million. During the same quarter in the prior year, the business earned $0.43 EPS. On average, analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio is presently -80.65%.

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.