Cbre Investment Management Listed Real Assets LLC Sells 229,297 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Cbre Investment Management Listed Real Assets LLC trimmed its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 21.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 826,063 shares of the real estate investment trust's stock after selling 229,297 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.67% of Piedmont Office Realty Trust worth $7,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PDM. Barclays PLC raised its position in shares of Piedmont Office Realty Trust by 88.7% during the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock worth $2,398,000 after buying an additional 111,596 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Piedmont Office Realty Trust by 45.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust's stock worth $15,501,000 after buying an additional 478,560 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Piedmont Office Realty Trust by 72.5% during the 3rd quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust's stock worth $1,519,000 after buying an additional 62,233 shares in the last quarter. Choreo LLC raised its position in shares of Piedmont Office Realty Trust by 4.0% during the 4th quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust's stock worth $484,000 after buying an additional 2,078 shares in the last quarter. Finally, Creative Planning raised its position in shares of Piedmont Office Realty Trust by 12.3% during the 3rd quarter. Creative Planning now owns 60,002 shares of the real estate investment trust's stock worth $606,000 after buying an additional 6,577 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Piedmont Office Realty Trust Trading Up 2.3 %

Shares of PDM stock traded up $0.17 during trading hours on Friday, reaching $7.33. 488,984 shares of the stock traded hands, compared to its average volume of 760,249. Piedmont Office Realty Trust, Inc. has a 1-year low of $6.13 and a 1-year high of $11.12. The business has a fifty day moving average price of $8.24 and a 200 day moving average price of $9.21. 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 firm has a market capitalization of $910.44 million, a PE ratio of -11.63 and a beta of 1.25.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings results 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. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The business had revenue of $143.23 million for the quarter, compared to analyst estimates of $142.16 million. On average, equities research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.83%. Piedmont Office Realty Trust's dividend payout ratio is currently -79.37%.

Wall Street Analyst Weigh In

A number of analysts recently commented on PDM shares. 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 dropped their target price on shares of 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. 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. Finally, Truist Financial reiterated a "buy" rating and issued a $10.00 target price (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

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.