Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,391,757 shares of the real estate investment trust's stock after selling 456,049 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.93% of Piedmont Office Realty Trust worth $21,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDM. Brookfield Corp ON acquired a new position in shares of Piedmont Office Realty Trust during the third quarter worth about $7,123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Piedmont Office Realty Trust by 358.6% in the third 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 acquiring an additional 700,616 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Piedmont Office Realty Trust by 45.3% in the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust's stock worth $15,501,000 after acquiring an additional 478,560 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Piedmont Office Realty Trust by 47.6% in the third 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 acquiring an additional 344,694 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Piedmont Office Realty Trust by 88.7% in the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock worth $2,398,000 after acquiring an additional 111,596 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company's stock.

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Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM traded down $0.15 during trading on Friday, hitting $7.23. 1,223,649 shares of the company traded hands, compared to its average volume of 760,868. 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 business's fifty day moving average is $7.88 and its 200-day moving average is $9.04. The stock has a market capitalization of $898.01 million, a price-to-earnings ratio of -11.47 and a beta of 1.25. Piedmont Office Realty Trust, Inc. has a one year low of $6.27 and a one year high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $143.23 million during the quarter, compared to the consensus estimate 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%. As a group, equities analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given 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 dividend yield of 6.92%. Piedmont Office Realty Trust's dividend payout ratio is presently -79.37%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Baird R W lowered Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Robert W. Baird lowered 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. StockNews.com raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Finally, 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 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.