Piedmont Office Realty Trust, Inc. (NYSE:PDM) Position Boosted by Vision Capital Corp

Vision Capital Corp increased its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 65.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,526,777 shares of the real estate investment trust's stock after purchasing an additional 1,389,477 shares during the quarter. Piedmont Office Realty Trust accounts for 5.2% of Vision Capital Corp's investment portfolio, making the stock its 2nd biggest holding. Vision Capital Corp owned approximately 2.84% of Piedmont Office Realty Trust worth $32,270,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PDM. Sterling Capital Management LLC boosted its position in Piedmont Office Realty Trust by 809.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 3,520 shares during the last quarter. Harbour Investments Inc. increased its stake in Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 1,216 shares during the last quarter. Xponance Inc. acquired a new stake in Piedmont Office Realty Trust in the 4th quarter worth about $95,000. Arkadios Wealth Advisors purchased a new stake in Piedmont Office Realty Trust in the 4th quarter valued at about $105,000. Finally, Cibc World Markets Corp acquired a new position in Piedmont Office Realty Trust during the fourth quarter worth approximately $106,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Analyst Upgrades and Downgrades

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

Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM traded up $0.01 during trading on Friday, reaching $6.79. 524,643 shares of the company's stock traded hands, compared to its average volume of 835,607. 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 50 day moving average of $6.99 and a 200-day moving average of $8.48. Piedmont Office Realty Trust, Inc. has a 12 month low of $5.81 and a 12 month high of $11.12. The stock has a market capitalization of $844.73 million, a P/E ratio of -10.78 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, hitting the consensus estimate 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%. On average, equities analysts expect 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 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. This represents a $0.50 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -79.37%.

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.