Helix Partners Management LP Makes New $6.41 Million Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Helix Partners Management LP purchased a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 700,000 shares of the real estate investment trust's stock, valued at approximately $6,405,000. Piedmont Office Realty Trust comprises 1.1% of Helix Partners Management LP's investment portfolio, making the stock its 7th biggest holding. Helix Partners Management LP owned 0.56% of Piedmont Office Realty Trust at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PDM. ExodusPoint Capital Management LP acquired a new position in Piedmont Office Realty Trust during the fourth quarter valued at $141,000. Massachusetts Financial Services Co. MA raised its stake in shares of Piedmont Office Realty Trust by 1.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,088,366 shares of the real estate investment trust's stock valued at $9,959,000 after buying an additional 18,858 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 15.8% in the 4th quarter. Meeder Asset Management Inc. now owns 12,125 shares of the real estate investment trust's stock valued at $111,000 after buying an additional 1,650 shares during the period. Wellington Management Group LLP boosted its stake in shares of Piedmont Office Realty Trust by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust's stock worth $19,278,000 after buying an additional 546,242 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Piedmont Office Realty Trust by 3.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,783 shares of the real estate investment trust's stock worth $1,581,000 after acquiring an additional 6,400 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Trading Down 1.8 %

PDM stock traded down $0.12 during trading on Tuesday, reaching $6.38. 310,832 shares of the stock were exchanged, compared to its average volume of 763,237. The business has a 50 day moving average price of $7.54 and a 200-day moving average price of $8.83. The firm has a market capitalization of $794.22 million, a price-to-earnings ratio of -10.11 and a beta of 1.21. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. Piedmont Office Realty Trust, Inc. has a 1 year low of $6.19 and a 1 year high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings results 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 net margin of 13.86% and a negative return on equity of 4.82%. The business had revenue of $143.23 million during the quarter, compared to analysts' expectations of $142.16 million. On average, research analysts predict 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 declared 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a yield of 7.83%. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -79.37%.

Analyst Ratings Changes

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

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.