Norges Bank Takes Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Norges Bank purchased a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 557,985 shares of the real estate investment trust's stock, valued at approximately $5,106,000. Norges Bank owned approximately 0.45% of Piedmont Office Realty Trust at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. TD Private Client Wealth LLC increased its position in shares of Piedmont Office Realty Trust by 51.3% during the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,666 shares in the last quarter. Harbour Investments Inc. increased its holdings 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 purchasing an additional 1,216 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Piedmont Office Realty Trust in the fourth quarter worth approximately $95,000. Arkadios Wealth Advisors bought a new position in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $105,000. Finally, Cibc World Markets Corp purchased a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $106,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM traded up $0.03 during mid-day trading on Tuesday, reaching $6.33. The company had a trading volume of 97,385 shares, compared to its average volume of 785,986. 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 company's 50-day moving average price is $7.22 and its 200-day moving average price is $8.66. Piedmont Office Realty Trust, Inc. has a one year low of $5.81 and a one year high of $11.11. The firm has a market cap of $786.88 million, a price-to-earnings ratio of -10.04 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. As a group, equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $0.125 dividend. 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 7.91%. Piedmont Office Realty Trust's dividend payout ratio is -79.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PDM shares. Robert W. Baird dropped their price objective 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. Baird R W downgraded shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Truist Financial restated a "buy" rating and issued a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th.

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.