Inspire Investing LLC Takes $413,000 Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Inspire Investing LLC acquired a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 40,895 shares of the real estate investment trust’s stock, valued at approximately $413,000.

A number of other hedge funds have also modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of Piedmont Office Realty Trust by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,288 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Piedmont Office Realty Trust in the first quarter worth about $73,000. Meeder Asset Management Inc. acquired a new position in shares of Piedmont Office Realty Trust in the second quarter worth about $76,000. Bayesian Capital Management LP purchased a new position in shares of Piedmont Office Realty Trust in the first quarter worth approximately $81,000. Finally, Sei Investments Co. acquired a new stake in shares of Piedmont Office Realty Trust during the second quarter valued at approximately $85,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Price Performance

Shares of PDM opened at $10.82 on Thursday. The business’s 50-day moving average is $9.64 and its 200-day moving average is $8.11. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -17.73 and a beta of 1.22. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $10.85.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.45). The company had revenue of $143.26 million during the quarter, compared to analyst estimates of $141.25 million. Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. Equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.5 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, September 20th. Investors of record on Friday, August 23rd were given a dividend of $0.125 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 4.62%. Piedmont Office Realty Trust’s payout ratio is -81.97%.

Wall Street Analyst Weigh In

PDM has been the topic of several research analyst reports. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Truist Financial reiterated a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a report on Wednesday, August 14th.

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.