Raymond James Financial Inc. Makes New Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Raymond James Financial Inc. acquired a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 143,503 shares of the real estate investment trust's stock, valued at approximately $1,313,000. Raymond James Financial Inc. owned approximately 0.12% of Piedmont Office Realty Trust at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Piedmont Office Realty Trust during the 4th quarter worth about $168,000. Metis Global Partners LLC increased its holdings in shares of 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 valued at $130,000 after purchasing an additional 1,453 shares in the last quarter. Bank of New York Mellon Corp raised its position in Piedmont Office Realty Trust by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 596,590 shares of the real estate investment trust's stock worth $5,459,000 after purchasing an additional 65,714 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Piedmont Office Realty Trust during the 4th quarter worth $506,000. Finally, Hudson Edge Investment Partners Inc. boosted its position in 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 valued at $234,000 after buying an additional 1,180 shares during the last quarter. Institutional investors own 84.48% of the company's stock.

Piedmont Office Realty Trust Trading Down 2.8 %

NYSE PDM traded down $0.19 on Monday, reaching $6.50. The company had a trading volume of 1,609,043 shares, compared to its average volume of 827,431. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.23 and a 52 week high of $11.12. The stock's 50 day moving average is $7.54 and its 200-day moving average is $8.83. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The stock has a market cap of $808.03 million, a price-to-earnings ratio of -10.31 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS 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 during the quarter, compared to analysts' expectations of $142.16 million. Equities analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $0.125 per share. The ex-dividend date was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.70%. Piedmont Office Realty Trust's dividend payout ratio is -79.37%.

Analyst Upgrades and Downgrades

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

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.