Quantinno Capital Management LP Has $216,000 Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Quantinno Capital Management LP raised its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,413 shares of the real estate investment trust’s stock after buying an additional 1,713 shares during the quarter. Quantinno Capital Management LP’s holdings in Piedmont Office Realty Trust were worth $216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Piedmont Office Realty Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,241 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Piedmont Office Realty Trust by 38.3% during the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,288 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Piedmont Office Realty Trust by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,311 shares during the period. abrdn plc raised its stake in Piedmont Office Realty Trust by 5.9% during the 3rd quarter. abrdn plc now owns 24,341 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 1,366 shares during the period. Finally, CWM LLC raised its stake in Piedmont Office Realty Trust by 15.1% during the 3rd quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 1,678 shares during the period. 84.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird increased their price target on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Piedmont Office Realty Trust Stock Up 0.1 %

Shares of PDM stock opened at $9.37 on Tuesday. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.93 and a 12-month high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. The firm has a fifty day moving average of $9.87 and a 200-day moving average of $9.02. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -15.11 and a beta of 1.20.

Piedmont Office Realty Trust (NYSE:PDM) last released its 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). The firm had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same quarter last year, the company posted $0.43 EPS. As a group, equities research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 22nd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.34%. The ex-dividend date is Friday, November 22nd. Piedmont Office Realty Trust’s payout ratio is -80.65%.

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.