UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 358.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 895,991 shares of the real estate investment trust's stock after buying an additional 700,616 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.72% of Piedmont Office Realty Trust worth $9,050,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PDM. Blue Trust Inc. grew its position in Piedmont Office Realty Trust by 38.3% during 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Piedmont Office Realty Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,241 shares during the last quarter. Optas LLC purchased a new position in Piedmont Office Realty Trust during the 3rd quarter worth $101,000. Meeder Asset Management Inc. purchased a new position in Piedmont Office Realty Trust during the 2nd quarter worth $76,000. Finally, Sei Investments Co. purchased a new position in Piedmont Office Realty Trust during the 2nd quarter worth $85,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Performance

Shares of PDM stock traded up $0.19 during mid-day trading on Monday, hitting $9.45. The stock had a trading volume of 598,967 shares, compared to its average volume of 862,422. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $11.11. The firm has a market cap of $1.17 billion, a PE ratio of -15.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. The company's 50-day simple moving average is $9.92 and its 200-day simple moving average is $8.94.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last released its 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). Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. The firm had revenue of $139.29 million during the quarter, compared to analyst estimates of $143.56 million. During the same quarter last year, the business posted $0.43 EPS. Sell-side analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The business 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 $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, November 22nd. Piedmont Office Realty Trust's dividend payout ratio (DPR) is -80.64%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Truist Financial restated 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 note on Wednesday, August 14th.

Piedmont Office Realty Trust 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.