Quantbot Technologies LP Purchases New Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Quantbot Technologies LP acquired a new position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the fourth quarter, Holdings Channel.com reports. The firm acquired 62,519 shares of the real estate investment trust’s stock, valued at approximately $572,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDM. TD Private Client Wealth LLC increased its position in shares of Piedmont Office Realty Trust by 51.3% during the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,666 shares during the last quarter. Harbour Investments Inc. grew its stake in Piedmont Office Realty Trust by 25.4% during the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,216 shares in the last quarter. Xponance Inc. purchased a new stake in Piedmont Office Realty Trust during the 4th quarter worth approximately $95,000. Arkadios Wealth Advisors acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at approximately $105,000. Finally, Cibc World Markets Corp purchased a new position in shares of Piedmont Office Realty Trust during the 4th quarter valued at approximately $106,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PDM. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Robert W. Baird lowered their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

Piedmont Office Realty Trust Price Performance

Shares of NYSE PDM opened at $7.37 on Friday. The company has a market capitalization of $916.26 million, a price-to-earnings ratio of -11.69 and a beta of 1.25. Piedmont Office Realty Trust, Inc. has a twelve month low of $6.27 and a twelve month high of $11.12. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average of $7.78 and a two-hundred day moving average of $8.98.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The company had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. As a group, analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust’s payout ratio is currently -79.37%.

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.