Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 29.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,114,866 shares of the real estate investment trust's stock after selling 456,434 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.90% of Piedmont Office Realty Trust worth $10,201,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in 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% during 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 acquiring an additional 700,616 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Piedmont Office Realty Trust by 8.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust's stock valued at $216,000 after acquiring an additional 1,713 shares in the last quarter. Jane Street Group LLC increased its holdings in Piedmont Office Realty Trust by 10.1% during the 3rd quarter. Jane Street Group LLC now owns 318,924 shares of the real estate investment trust's stock valued at $3,221,000 after acquiring an additional 29,139 shares in the last quarter. Brookfield Corp ON purchased a new position in Piedmont Office Realty Trust during the 3rd quarter valued at about $7,123,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings 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 valued at $1,680,000 after acquiring an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company's stock.

Piedmont Office Realty Trust Stock Down 5.8 %

Shares of PDM traded down $0.38 during mid-day trading on Thursday, reaching $6.17. 94,867 shares of the stock traded hands, compared to its average volume of 778,995. The firm has a market cap of $767.60 million, a price-to-earnings ratio of -9.79 and a beta of 1.21. The stock has a fifty day simple moving average of $7.36 and a 200 day simple moving average of $8.75. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.81 and a 12-month high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40.

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

Piedmont Office Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid 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 dividend yield of 8.10%. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -79.37%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PDM shares. Truist Financial restated a "buy" rating and set a $10.00 target price (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Robert W. Baird lowered 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 report on Monday, February 24th. Finally, Baird R W downgraded shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th.

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.