Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P lifted its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 519.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,996 shares of the real estate investment trust's stock after buying an additional 86,371 shares during the period. Martingale Asset Management L P owned approximately 0.08% of Piedmont Office Realty Trust worth $1,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilsey Asset Management Inc. grew its stake in shares of Piedmont Office Realty Trust by 50.2% during the 2nd 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 boosted its stake in shares of Piedmont Office Realty Trust by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,719,641 shares of the real estate investment trust's stock valued at $12,467,000 after buying an additional 14,831 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Piedmont Office Realty Trust by 47.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust's stock worth $10,802,000 after purchasing an additional 344,694 shares during the last quarter. Marshall Wace LLP lifted its stake in Piedmont Office Realty Trust by 7,041.3% in 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 valued at $9,050,000 after purchasing an additional 700,616 shares during the period. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Down 1.6 %

NYSE:PDM traded down $0.15 on Monday, hitting $9.37. The stock had a trading volume of 704,995 shares, compared to its average volume of 869,038. Piedmont Office Realty Trust, Inc. has a 1 year low of $5.93 and a 1 year high of $11.11. The firm's fifty day simple moving average is $10.01 and its two-hundred day simple moving average is $8.85. The stock has a market cap of $1.16 billion, a P/E ratio of -15.35 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.46). The firm had revenue of $139.29 million during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.43 earnings per share. Analysts predict that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.50 annualized dividend and a yield of 5.34%. Piedmont Office Realty Trust's payout ratio is presently -80.64%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PDM. Robert W. Baird increased their price objective 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 reaffirmed 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 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.