Wellington Management Group LLP Acquires 546,242 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Wellington Management Group LLP lifted its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,106,859 shares of the real estate investment trust's stock after buying an additional 546,242 shares during the quarter. Wellington Management Group LLP owned 1.70% of Piedmont Office Realty Trust worth $19,278,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilsey Asset Management Inc. lifted its stake in shares of Piedmont Office Realty Trust by 2.0% in the fourth quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust's stock worth $36,175,000 after acquiring an additional 77,220 shares in the last quarter. Geode Capital Management LLC increased its holdings in Piedmont Office Realty Trust by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust's stock worth $32,499,000 after purchasing an additional 48,944 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Piedmont Office Realty Trust by 34.6% in the 4th quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust's stock valued at $24,882,000 after purchasing an additional 699,339 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Piedmont Office Realty Trust by 16.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,780,288 shares of the real estate investment trust's stock valued at $16,290,000 after buying an additional 245,518 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Piedmont Office Realty Trust by 358.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust's stock worth $9,050,000 after buying an additional 700,616 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Trading Up 0.6 %

Shares of NYSE PDM traded up $0.04 during mid-day trading on Friday, hitting $6.17. 927,209 shares of the company traded hands, compared to its average volume of 828,873. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. Piedmont Office Realty Trust, Inc. has a 1 year low of $5.81 and a 1 year high of $11.12. The stock has a market capitalization of $766.98 million, a price-to-earnings ratio of -9.79 and a beta of 1.21. The business has a 50 day moving average of $7.26 and a two-hundred day moving average of $8.70.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, meeting analysts' consensus estimates 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 company had revenue of $143.23 million for the quarter, compared to the consensus estimate of $142.16 million. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 8.11%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -79.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Baird R W downgraded Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Robert W. Baird lowered their price target on 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. Truist Financial reissued a "buy" rating and set a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. Finally, StockNews.com raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th.

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.