Mirae Asset Global Investments Co. Ltd. Has $48,000 Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 34.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,809 shares of the real estate investment trust’s stock after purchasing an additional 1,241 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Piedmont Office Realty Trust were worth $48,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in 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 valued at $33,000 after purchasing an additional 1,288 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in Piedmont Office Realty Trust in the first quarter valued at approximately $73,000. Meeder Asset Management Inc. bought a new stake in Piedmont Office Realty Trust in the second quarter valued at approximately $76,000. Bayesian Capital Management LP bought a new stake in Piedmont Office Realty Trust in the first quarter valued at approximately $81,000. Finally, Sei Investments Co. bought a new stake in Piedmont Office Realty Trust in the second quarter valued at approximately $85,000. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Price Performance

Shares of NYSE PDM opened at $10.05 on Wednesday. The firm has a market cap of $1.25 billion, a P/E ratio of -16.21 and a beta of 1.21. 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 1-year low of $5.37 and a 1-year high of $11.11. The business’s 50 day moving average is $10.01 and its 200-day moving average is $8.47.

Piedmont Office Realty Trust (NYSE:PDM) last announced 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 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 business posted $0.43 EPS. Equities research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.98%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -80.64%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PDM shares. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial restated 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. Finally, Robert W. Baird upped their price objective on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

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.