Massachusetts Financial Services Co. MA Purchases 344,694 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Massachusetts Financial Services Co. MA raised its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 47.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,069,508 shares of the real estate investment trust's stock after acquiring an additional 344,694 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.86% of Piedmont Office Realty Trust worth $10,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Piedmont Office Realty Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust's stock worth $135,115,000 after acquiring an additional 394,282 shares during the period. Wilsey Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 50.2% in the second quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust's stock worth $28,274,000 after purchasing an additional 1,302,681 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Piedmont Office Realty Trust by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust's stock worth $12,467,000 after buying an additional 14,831 shares in the last quarter. Marshall Wace LLP boosted its stake in Piedmont Office Realty Trust by 7,041.3% during the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust's stock valued at $6,627,000 after buying an additional 901,292 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in Piedmont Office Realty Trust by 13.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 727,347 shares of the real estate investment trust's stock worth $7,346,000 after buying an additional 87,618 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company's stock.

Piedmont Office Realty Trust Stock Performance

Shares of PDM stock opened at $9.78 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.78 and a 12-month high of $11.11. The business has a 50-day moving average price of $10.04 and a two-hundred day moving average price of $8.78.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.46). The business had revenue of $139.29 million during the quarter, compared to analysts' expectations of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same period last year, the company posted $0.43 EPS. Research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend is Friday, November 22nd. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -80.64%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PDM. Robert W. Baird lifted their price target on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Truist Financial reiterated a "buy" rating and set a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th.

Piedmont Office Realty Trust Company Profile

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.