Legal & General Group Plc trimmed its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 597,829 shares of the real estate investment trust's stock after selling 96,960 shares during the quarter. Legal & General Group Plc owned approximately 0.48% of Piedmont Office Realty Trust worth $5,470,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Piedmont Office Realty Trust by 88.7% during the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock worth $2,398,000 after purchasing an additional 111,596 shares during the period. JPMorgan Chase & Co. increased its position in 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 buying an additional 478,560 shares during the period. Franklin Resources Inc. lifted its stake in Piedmont Office Realty Trust by 72.5% in the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust's stock valued at $1,519,000 after buying an additional 62,233 shares during the last quarter. Choreo LLC grew its position in shares of Piedmont Office Realty Trust by 4.0% during the fourth quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust's stock worth $484,000 after acquiring an additional 2,078 shares during the last quarter. Finally, Wilsey Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 2.0% in the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust's stock worth $36,175,000 after acquiring an additional 77,220 shares during the period. 84.48% of the stock is currently owned by institutional investors.
Piedmont Office Realty Trust Price Performance
NYSE:PDM traded down $0.02 during midday trading on Friday, hitting $6.77. 65,387 shares of the stock were exchanged, compared to its average volume of 833,214. The company has a market capitalization of $841.62 million, a price-to-earnings ratio of -10.74 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 one year low of $5.81 and a one year high of $11.12. The business has a 50-day moving average price of $7.00 and a two-hundred day moving average price of $8.50.
Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, hitting 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 the consensus estimate of $142.16 million. Sell-side analysts predict 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 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 was Friday, February 21st. This represents a $0.50 annualized dividend and a dividend yield of 7.39%. Piedmont Office Realty Trust's dividend payout ratio (DPR) is -79.37%.
Wall Street Analysts Forecast Growth
PDM has been the subject of a number of analyst reports. Baird R W lowered shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Truist Financial reissued a "buy" rating and issued a $10.00 price objective (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Robert W. Baird cut their target price on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Finally, StockNews.com raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, February 17th.
View Our Latest Research Report on Piedmont Office Realty Trust
About Piedmont Office Realty Trust
(
Free Report)
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.
Featured Stories
Before you consider Piedmont Office Realty Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Piedmont Office Realty Trust wasn't on the list.
While Piedmont Office Realty Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
