Piedmont Office Realty Trust (NYSE:PDM) Rating Reiterated by Truist Financial

Truist Financial reaffirmed their buy rating on shares of Piedmont Office Realty Trust (NYSE:PDM) in a report released on Wednesday morning, Benzinga reports. Truist Financial currently has a $11.00 price target on the real estate investment trust’s stock, up from their prior price target of $10.00.

Separately, StockNews.com raised shares of Piedmont Office Realty Trust from a sell rating to a hold rating in a research report on Tuesday, July 23rd.

Piedmont Office Realty Trust Price Performance

PDM opened at $8.96 on Wednesday. Piedmont Office Realty Trust has a 1 year low of $4.91 and a 1 year high of $9.10. The firm has a 50 day moving average price of $7.89 and a 200 day moving average price of $7.12. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market cap of $1.11 billion, a PE ratio of -14.69 and a beta of 1.21.

Piedmont Office Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date is Friday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio is presently -81.97%.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Piedmont Office Realty Trust by 9.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,572 shares of the real estate investment trust’s stock worth $424,000 after acquiring an additional 4,998 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Piedmont Office Realty Trust by 4.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 186,156 shares of the real estate investment trust’s stock valued at $1,324,000 after purchasing an additional 8,702 shares in the last quarter. DGS Capital Management LLC increased its stake in Piedmont Office Realty Trust by 86.1% during the 4th quarter. DGS Capital Management LLC now owns 37,841 shares of the real estate investment trust’s stock worth $269,000 after buying an additional 17,505 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Piedmont Office Realty Trust by 10.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 42,194 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 4,063 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Piedmont Office Realty Trust by 19.7% in the 4th quarter. Signaturefd LLC now owns 29,044 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 4,775 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

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.