111,514 Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM) Acquired by Vestcor Inc

Vestcor Inc acquired a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 111,514 shares of the real estate investment trust's stock, valued at approximately $1,020,000. Vestcor Inc owned about 0.09% of Piedmont Office Realty Trust at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Inceptionr LLC purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth $117,000. Raymond James Financial Inc. purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth $1,313,000. Proficio Capital Partners LLC purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth $168,000. Metis Global Partners LLC lifted its position in shares of Piedmont Office Realty Trust by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust's stock worth $130,000 after purchasing an additional 1,453 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Piedmont Office Realty Trust by 12.4% during 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 acquiring an additional 65,714 shares in the last quarter. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Price Performance

Shares of NYSE PDM traded down $0.01 on Wednesday, hitting $7.34. The company's stock had a trading volume of 786,079 shares, compared to its average volume of 762,338. The stock has a 50 day moving average of $7.96 and a 200-day moving average of $9.08. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The company has a market capitalization of $912.55 million, a price-to-earnings ratio of -11.65 and a beta of 1.25. Piedmont Office Realty Trust, Inc. has a 12-month low of $6.13 and a 12-month high of $11.11.

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Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, meeting analysts' consensus estimates of $0.37. The business had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. As a group, research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio is presently -79.37%.

Analysts Set New Price Targets

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

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.