Piedmont Office Realty Trust, Inc. (NYSE:PDM) Stock Holdings Decreased by Private Management Group Inc.

Private Management Group Inc. lowered its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 9.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,171,419 shares of the real estate investment trust's stock after selling 447,460 shares during the quarter. Piedmont Office Realty Trust makes up approximately 1.5% of Private Management Group Inc.'s holdings, making the stock its 9th largest position. Private Management Group Inc. owned approximately 3.36% of Piedmont Office Realty Trust worth $42,131,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Piedmont Office Realty Trust by 38.3% during the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 1,288 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Piedmont Office Realty Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 1,241 shares during the period. First Trust Direct Indexing L.P. bought a new stake in shares of Piedmont Office Realty Trust during the first quarter valued at approximately $73,000. Meeder Asset Management Inc. acquired a new position in shares of Piedmont Office Realty Trust during the second quarter worth approximately $76,000. Finally, Bayesian Capital Management LP bought a new position in Piedmont Office Realty Trust in the 1st quarter worth approximately $81,000. 84.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDM has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Friday. StockNews.com raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, Truist Financial reiterated a "buy" rating and issued a $11.00 target price (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th.

Piedmont Office Realty Trust Price Performance

PDM traded down $0.06 during trading on Friday, reaching $9.88. The stock had a trading volume of 965,837 shares, compared to its average volume of 644,116. The stock has a 50 day moving average of $10.00 and a two-hundred day moving average of $8.42. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -15.94 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a 1-year low of $5.37 and a 1-year high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. The firm had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. During the same period in the prior year, the business earned $0.43 EPS. As a group, equities analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.06%. Piedmont Office Realty Trust's payout ratio is currently -80.64%.

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.