11,554 Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM) Purchased by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,554 shares of the real estate investment trust’s stock, valued at approximately $106,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Hudson Edge Investment Partners Inc. lifted its position in shares of Piedmont Office Realty Trust by 4.8% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 1,180 shares during the period. Harbour Investments Inc. raised its stake in Piedmont Office Realty Trust by 25.4% during the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 1,216 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Piedmont Office Realty Trust by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust’s stock valued at $130,000 after acquiring an additional 1,453 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,666 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Piedmont Office Realty Trust by 8.7% in the 3rd quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 1,713 shares during the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial restated a “buy” rating and issued a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. Baird R W downgraded Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Finally, Robert W. Baird reduced their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th.

Piedmont Office Realty Trust Price Performance

Shares of PDM stock opened at $7.37 on Friday. Piedmont Office Realty Trust, Inc. has a 1 year low of $6.27 and a 1 year high of $11.12. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The firm’s 50 day moving average is $7.78 and its 200-day moving average is $8.98. The firm has a market capitalization of $916.26 million, a price-to-earnings ratio of -11.69 and a beta of 1.25.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $143.23 million during the quarter, compared to analysts’ expectations of $142.16 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. Sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $0.125 per share. The ex-dividend date was Friday, February 21st. This represents a $0.50 annualized dividend and a yield of 6.79%. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.

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.