LSV Asset Management Sells 150,465 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

LSV Asset Management lowered its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,113,929 shares of the real estate investment trust's stock after selling 150,465 shares during the period. LSV Asset Management owned about 3.32% of Piedmont Office Realty Trust worth $37,642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in 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 last quarter. Harbour Investments Inc. grew its stake in Piedmont Office Realty Trust by 25.4% during the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock worth $55,000 after buying an additional 1,216 shares during the last quarter. Xponance Inc. acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at $95,000. Arkadios Wealth Advisors acquired a new position in Piedmont Office Realty Trust during the fourth quarter worth about $105,000. Finally, Cibc World Markets Corp purchased a new stake in Piedmont Office Realty Trust during the fourth quarter valued at about $106,000. Hedge funds and other institutional investors own 84.48% of the company's stock.

Wall Street Analyst Weigh In

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

Piedmont Office Realty Trust Price Performance

PDM stock traded up $0.08 during trading on Thursday, reaching $6.55. 168,145 shares of the company were exchanged, compared to its average volume of 829,157. The company has a market capitalization of $814.25 million, a price-to-earnings ratio of -10.40 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a twelve month low of $5.81 and a twelve month 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 has a 50-day moving average of $7.14 and a two-hundred day moving average of $8.63.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share 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 firm had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. As a group, equities analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 7.64%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -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.