Ilmarinen Mutual Pension Insurance Co Has $787,000 Stock Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Ilmarinen Mutual Pension Insurance Co grew its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 681.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 86,000 shares of the real estate investment trust’s stock after acquiring an additional 75,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Piedmont Office Realty Trust were worth $787,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 worth $9,050,000 after purchasing an additional 700,616 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Piedmont Office Realty Trust by 8.7% in the third quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 1,713 shares during the period. Jane Street Group LLC increased its stake in shares of Piedmont Office Realty Trust by 10.1% in the third quarter. Jane Street Group LLC now owns 318,924 shares of the real estate investment trust’s stock valued at $3,221,000 after buying an additional 29,139 shares during the period. Brookfield Corp ON bought a new position in Piedmont Office Realty Trust in the 3rd quarter valued at approximately $7,123,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in Piedmont Office Realty Trust by 1.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 166,383 shares of the real estate investment trust’s stock worth $1,680,000 after buying an additional 2,300 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PDM shares. Robert W. Baird decreased their price target on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Truist Financial reaffirmed a “buy” rating and set a $10.00 target price (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Finally, Baird R W cut Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th.

Piedmont Office Realty Trust Trading Down 3.4 %

NYSE:PDM opened at $6.68 on Friday. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.27 and a 52 week high of $11.12. The firm’s fifty day moving average is $7.59 and its 200-day moving average is $8.87. The firm has a market cap of $831.29 million, a P/E ratio of -10.61 and a beta of 1.25. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting 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 firm had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. Equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a yield of 7.48%. Piedmont Office Realty Trust’s payout ratio is currently -79.37%.

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.