Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Greenland Capital Management LP

Greenland Capital Management LP trimmed its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 77.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,590 shares of the real estate investment trust's stock after selling 50,410 shares during the quarter. Greenland Capital Management LP's holdings in Piedmont Office Realty Trust were worth $133,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PDM. Hudson Edge Investment Partners Inc. boosted its stake in Piedmont Office Realty Trust by 4.8% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust's stock valued at $234,000 after acquiring an additional 1,180 shares in the last quarter. Harbour Investments Inc. lifted its stake in Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 1,216 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Piedmont Office Realty Trust by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust's stock valued at $130,000 after acquiring an additional 1,453 shares during the period. Meeder Asset Management Inc. grew its position in shares of Piedmont Office Realty Trust by 15.8% during the fourth quarter. Meeder Asset Management Inc. now owns 12,125 shares of the real estate investment trust's stock worth $111,000 after acquiring an additional 1,650 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,666 shares during the period. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Performance

Shares of PDM stock traded up $0.09 during mid-day trading on Tuesday, hitting $6.39. The stock had a trading volume of 299,030 shares, compared to its average volume of 829,253. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.81 and a fifty-two 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 company's 50-day simple moving average is $7.22 and its 200-day simple moving average is $8.66. The firm has a market cap of $794.97 million, a PE ratio of -10.14 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, meeting analysts' consensus estimates 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 company had revenue of $143.23 million for the quarter, compared to analyst estimates of $142.16 million. Sell-side analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio (DPR) is currently -79.37%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Robert W. Baird lowered their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Baird R W lowered Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Truist Financial restated 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 report on Tuesday, February 25th. Finally, StockNews.com raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th.

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.