Fox Run Management L.L.C. Purchases New Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Fox Run Management L.L.C. purchased a new position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,755 shares of the real estate investment trust's stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wilsey Asset Management Inc. grew its stake in shares of Piedmont Office Realty Trust by 2.0% during 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 during the period. Geode Capital Management LLC boosted its position in shares of 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 worth $32,499,000 after purchasing an additional 48,944 shares during the period. JPMorgan Chase & Co. increased 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 purchasing an additional 478,560 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Piedmont Office Realty Trust by 4.3% during the 3rd quarter. Systematic Financial Management LP now owns 1,162,619 shares of the real estate investment trust's stock valued at $11,742,000 after purchasing an additional 47,783 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Piedmont Office Realty Trust by 47.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust's stock valued at $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 a number of analyst reports. Truist Financial reiterated a "buy" rating and issued a $10.00 price target (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note 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. Baird R W cut Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, Robert W. Baird cut their price objective 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.

Piedmont Office Realty Trust Price Performance

Shares of Piedmont Office Realty Trust stock traded down $0.14 during trading on Friday, reaching $7.24. 467,735 shares of the stock traded hands, compared to its average volume of 823,661. Piedmont Office Realty Trust, Inc. has a 52-week low of $6.27 and a 52-week high of $11.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The business has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $8.96. The company has a market capitalization of $900.09 million, a price-to-earnings ratio of -11.48 and a beta of 1.25.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.37. The business had revenue of $143.23 million for 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%. Sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently announced 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. This represents a $0.50 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio is -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.