By otakuyassine3@gmail.com 
Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM – Free Report) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 87,721 shares of the real estate investment trust’s stock after purchasing an additional 10,012 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Piedmont Office Realty Trust were worth $791,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC increased its position in Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,666 shares during the period. Harbour Investments Inc. grew its stake in shares of Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 1,216 shares in the last quarter. Xponance Inc. acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at $95,000. Arkadios Wealth Advisors bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at about $105,000. Finally, Cibc World Markets Corp acquired a new stake in Piedmont Office Realty Trust in the fourth quarter worth about $106,000. Institutional investors own 84.48% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. 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 research report on Monday, February 24th. Finally, Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th.
Read Our Latest Analysis on Piedmont Office Realty Trust
Piedmont Office Realty Trust Trading Up 1.9 %
Shares of NYSE:PDM opened at $7.56 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. The stock has a market capitalization of $940.52 million, a price-to-earnings ratio of -12.00 and a beta of 1.25. Piedmont Office Realty Trust, Inc. has a 1-year low of $6.27 and a 1-year high of $11.12. The company has a 50 day moving average price of $7.67 and a 200 day moving average price of $8.91.
Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. On average, research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.
Piedmont Office Realty Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 annualized dividend and a yield of 6.61%. Piedmont Office Realty Trust’s payout ratio is presently -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.
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