Bank of New York Mellon Corp Raises Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Bank of New York Mellon Corp increased its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 596,590 shares of the real estate investment trust's stock after acquiring an additional 65,714 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of Piedmont Office Realty Trust worth $5,459,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wilsey Asset Management Inc. raised its holdings in shares of Piedmont Office Realty Trust by 2.0% in the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust's stock valued at $36,175,000 after acquiring an additional 77,220 shares in the last quarter. Geode Capital Management LLC raised its stake in Piedmont Office Realty Trust by 1.5% in the third quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust's stock valued at $32,499,000 after purchasing an additional 48,944 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Piedmont Office Realty Trust by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust's stock valued at $15,501,000 after purchasing an additional 478,560 shares during the last quarter. Systematic Financial Management LP grew its stake in Piedmont Office Realty Trust by 4.3% in the 3rd quarter. Systematic Financial Management LP now owns 1,162,619 shares of the real estate investment trust's stock worth $11,742,000 after buying an additional 47,783 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in 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 worth $10,802,000 after buying an additional 344,694 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company's stock.

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Analyst Upgrades and Downgrades

PDM has been the subject of several research analyst reports. Baird R W lowered Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Robert W. Baird decreased their target price on 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, Truist Financial reaffirmed a "buy" rating and set a $10.00 price objective (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th.

Piedmont Office Realty Trust Stock Down 2.0 %

Piedmont Office Realty Trust stock traded down $0.15 during trading hours on Friday, hitting $7.23. The stock had a trading volume of 531,433 shares, compared to its average volume of 761,830. The stock's 50-day moving average price is $7.90 and its 200-day moving average price is $9.06. Piedmont Office Realty Trust, Inc. has a 12-month low of $6.27 and a 12-month high of $11.12. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $898.01 million, a P/E ratio of -11.47 and a beta of 1.25.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, meeting the consensus estimate 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 business had revenue of $143.23 million for the quarter, compared to the consensus estimate of $142.16 million. Equities 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 announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 6.92%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend 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.