Vanguard Group Inc. Lowers Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Vanguard Group Inc. lessened its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,309,511 shares of the real estate investment trust's stock after selling 71,893 shares during the quarter. Vanguard Group Inc. owned approximately 15.57% of Piedmont Office Realty Trust worth $176,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Piedmont Office Realty Trust by 358.6% during the 3rd 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 acquiring an additional 700,616 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Piedmont Office Realty Trust by 8.7% during the third quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust's stock worth $216,000 after purchasing an additional 1,713 shares during the last quarter. Jane Street Group LLC boosted its holdings in Piedmont Office Realty Trust by 10.1% in the third quarter. Jane Street Group LLC now owns 318,924 shares of the real estate investment trust's stock valued at $3,221,000 after purchasing an additional 29,139 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Piedmont Office Realty Trust by 1.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 166,383 shares of the real estate investment trust's stock valued at $1,680,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Barclays PLC raised its holdings in Piedmont Office Realty Trust by 88.7% during the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock worth $2,398,000 after purchasing an additional 111,596 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Stock Performance

Shares of Piedmont Office Realty Trust stock traded up $0.04 during trading on Friday, reaching $6.17. The company's stock had a trading volume of 927,209 shares, compared to its average volume of 828,873. The company has a 50-day moving average price of $7.26 and a two-hundred day moving average price of $8.70. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.81 and a fifty-two week high of $11.12. The firm has a market cap of $766.98 million, a PE ratio of -9.79 and a beta of 1.21. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The company had revenue of $143.23 million for the quarter, compared to the consensus estimate of $142.16 million. On average, analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 8.11%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio is presently -79.37%.

Analyst Upgrades and Downgrades

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

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.