Helix Partners Management LP Takes Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Helix Partners Management LP purchased a new position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 largest position. Helix Partners Management LP owned about 0.56% of Piedmont Office Realty Trust at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wilsey Asset Management Inc. boosted its holdings in shares of Piedmont Office Realty Trust by 2.0% in the fourth 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 purchasing an additional 77,220 shares during the period. Geode Capital Management LLC raised its position in Piedmont Office Realty Trust by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust's stock valued at $32,499,000 after purchasing an additional 48,944 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 34.6% in the 4th quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust's stock worth $24,882,000 after buying an additional 699,339 shares during the period. Wellington Management Group LLP grew its position in shares of Piedmont Office Realty Trust by 35.0% during the 4th 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Piedmont Office Realty Trust by 16.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,780,288 shares of the real estate investment trust's stock valued at $16,290,000 after buying an additional 245,518 shares during the period. Hedge funds and other institutional investors own 84.48% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on PDM. Robert W. Baird reduced their price target 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. 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 reiterated a "buy" rating and issued a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Finally, StockNews.com upgraded Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, February 17th.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE PDM traded down $0.24 during midday trading on Friday, reaching $6.68. The company had a trading volume of 1,074,303 shares, compared to its average volume of 824,504. Piedmont Office Realty Trust, Inc. has a 1 year low of $6.27 and a 1 year high of $11.12. The business's 50-day simple moving average is $7.59 and its 200 day simple moving average is $8.87. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The stock has a market cap of $831.29 million, a P/E ratio of -10.61 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 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $142.16 million. On average, analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 7.48%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio (DPR) is -79.37%.

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.