Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Swedbank AB

Swedbank AB reduced its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,359 shares of the real estate investment trust's stock after selling 70,698 shares during the period. Swedbank AB owned approximately 0.28% of Piedmont Office Realty Trust worth $3,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Piedmont Office Realty Trust by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 1,288 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Piedmont Office Realty Trust by 34.8% during 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 in the last quarter. Optas LLC purchased a new stake in shares of Piedmont Office Realty Trust in the third quarter valued at $101,000. Meeder Asset Management Inc. bought a new position in shares of Piedmont Office Realty Trust during the second quarter valued at approximately $76,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Piedmont Office Realty Trust during the 1st quarter worth approximately $81,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Down 1.0 %

Piedmont Office Realty Trust stock traded down $0.10 during mid-day trading on Thursday, reaching $9.68. 1,405,895 shares of the company were exchanged, compared to its average volume of 869,998. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market cap of $1.20 billion, a P/E ratio of -15.61 and a beta of 1.21. The business has a fifty day moving average of $10.04 and a 200 day moving average of $8.80. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.81 and a 12-month high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.46). The company had revenue of $139.29 million for the quarter, compared to analysts' expectations of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same quarter last year, the company earned $0.43 earnings per share. Research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 dividend yield of 5.17%. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -80.64%.

Analysts Set New Price Targets

PDM has been the subject of several research analyst reports. Robert W. Baird lifted their target price on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Truist Financial restated a "buy" rating and issued a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th.

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.