UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 358.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 895,991 shares of the real estate investment trust’s stock after purchasing an additional 700,616 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Piedmont Office Realty Trust were worth $9,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PDM. Daiwa Securities Group Inc. grew its stake in shares of Piedmont Office Realty Trust by 8.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 41,454 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 3,233 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of 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 worth $10,802,000 after purchasing an additional 344,694 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Piedmont Office Realty Trust in the third quarter worth $123,000. Intech Investment Management LLC purchased a new position in shares of Piedmont Office Realty Trust during the 3rd quarter valued at $258,000. Finally, Metis Global Partners LLC bought a new position in Piedmont Office Realty Trust in the 3rd quarter worth $129,000. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Price Performance

Shares of Piedmont Office Realty Trust stock opened at $9.26 on Monday. The company has a current ratio of 2.22, a quick 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. The stock has a 50 day moving average of $9.94 and a 200 day moving average of $8.92. The firm has a market cap of $1.15 billion, a PE ratio of -14.94 and a beta of 1.20.

Piedmont Office Realty Trust (NYSE:PDM) last posted its 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). The business had revenue of $139.29 million during the quarter, compared to analysts’ expectations of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same period last year, the business posted $0.43 earnings per share. On average, research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

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

Analyst Ratings Changes

PDM has been the subject of a number of recent analyst reports. Truist Financial reaffirmed 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 note on Wednesday, August 14th. Robert W. Baird increased 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 report on Friday, November 1st.

Piedmont Office Realty Trust Company 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.