Creative Planning Boosts Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Creative Planning grew its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 12.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 60,002 shares of the real estate investment trust’s stock after buying an additional 6,577 shares during the period. Creative Planning’s holdings in Piedmont Office Realty Trust were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wilsey Asset Management Inc. grew its holdings in shares of Piedmont Office Realty Trust by 50.2% during the 2nd quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock worth $28,274,000 after purchasing an additional 1,302,681 shares during the period. Marshall Wace LLP grew its stake in Piedmont Office Realty Trust by 7,041.3% during the 2nd quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after buying an additional 901,292 shares during the last quarter. SG Americas Securities LLC increased its stake in Piedmont Office Realty Trust by 694.5% in the first quarter. SG Americas Securities LLC now owns 590,715 shares of the real estate investment trust’s stock valued at $4,153,000 after purchasing an additional 516,367 shares during the period. Swedbank AB purchased a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at approximately $3,488,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Piedmont Office Realty Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock valued at $135,115,000 after acquiring an additional 394,282 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Performance

Piedmont Office Realty Trust stock opened at $10.01 on Tuesday. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.37 and a 12-month high of $11.11. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -16.15 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. The firm’s fifty day moving average price is $10.00 and its 200 day moving average price is $8.45.

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). The company had revenue of $139.29 million for the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.43 earnings per share. On average, research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.50 annualized dividend and a dividend yield of 5.00%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -80.65%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial reiterated 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. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird raised their target price on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday.

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.