Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P grew its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 519.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,996 shares of the real estate investment trust’s stock after purchasing an additional 86,371 shares during the quarter. Martingale Asset Management L P owned approximately 0.08% of Piedmont Office Realty Trust worth $1,040,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Piedmont Office Realty Trust by 358.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust’s stock valued at $9,050,000 after purchasing an additional 700,616 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Piedmont Office Realty Trust by 8.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 41,454 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 3,233 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Piedmont Office Realty Trust by 47.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock valued at $10,802,000 after purchasing an additional 344,694 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at about $123,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at about $258,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Price Performance

PDM opened at $9.52 on Monday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -15.35 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $11.11. The company’s 50-day moving average price is $10.01 and its 200 day moving average price is $8.84. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.46). The business 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 last year, the company earned $0.43 EPS. As a group, sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.49 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. Shareholders of record on Friday, November 22nd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -80.64%.

Analyst Ratings Changes

PDM has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of 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. Truist Financial reiterated a “buy” rating and set 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.

Piedmont Office Realty Trust 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.