Piedmont Office Realty Trust, Inc. (NYSE:PDM) Stake Raised by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 40.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,536 shares of the real estate investment trust's stock after purchasing an additional 72,084 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.20% of Piedmont Office Realty Trust worth $2,302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hudson Edge Investment Partners Inc. lifted its stake in shares of Piedmont Office Realty Trust by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 1,180 shares during the period. Harbour Investments Inc. raised its holdings in Piedmont Office Realty Trust by 25.4% during the fourth 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. Metis Global Partners LLC lifted its position in Piedmont Office Realty Trust by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust's stock worth $130,000 after purchasing an additional 1,453 shares during the period. TD Private Client Wealth LLC boosted its stake in Piedmont Office Realty Trust by 51.3% during 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 purchasing an additional 1,666 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Piedmont Office Realty Trust by 8.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust's stock valued at $216,000 after purchasing an additional 1,713 shares during the period. Institutional investors own 84.48% of the company's stock.

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Piedmont Office Realty Trust Trading Up 2.8 %

Shares of Piedmont Office Realty Trust stock traded up $0.20 on Monday, reaching $7.43. 522,436 shares of the company were exchanged, compared to its average volume of 755,677. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $11.12. The firm has a market capitalization of $923.61 million, a price-to-earnings ratio of -11.80 and a beta of 1.25. 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 stock has a fifty day moving average price of $7.88 and a 200-day moving average price of $9.03.

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 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 firm had revenue of $143.23 million for the quarter, compared to the consensus estimate of $142.16 million. On average, analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The company 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. This represents a $0.50 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio is -79.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com upgraded Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Robert W. Baird cut their price target on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Baird R W cut shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Finally, Truist Financial reiterated a "buy" rating and issued a $10.00 target price (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

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.