55,309 Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,309 shares of the real estate investment trust's stock, valued at approximately $506,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudson Edge Investment Partners Inc. raised its position in shares of Piedmont Office Realty Trust by 4.8% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 1,180 shares during the period. Rhumbline Advisers increased its stake in shares of Piedmont Office Realty Trust by 0.9% in the 4th quarter. Rhumbline Advisers now owns 227,700 shares of the real estate investment trust's stock valued at $2,083,000 after purchasing an additional 1,954 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Piedmont Office Realty Trust by 3.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 195,038 shares of the real estate investment trust's stock worth $1,718,000 after purchasing an additional 6,149 shares during the period. Van ECK Associates Corp boosted its position in Piedmont Office Realty Trust by 23.1% during the fourth quarter. Van ECK Associates Corp now owns 30,299 shares of the real estate investment trust's stock worth $277,000 after purchasing an additional 5,687 shares in the last quarter. Finally, Wilsey Asset Management Inc. boosted its position in Piedmont Office Realty Trust by 2.0% during the fourth quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust's stock worth $36,175,000 after purchasing an additional 77,220 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company's stock.

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Piedmont Office Realty Trust Price Performance

Shares of Piedmont Office Realty Trust stock traded up $0.07 during trading hours on Wednesday, reaching $7.30. 548,212 shares of the company's stock were exchanged, compared to its average volume of 761,883. The business has a fifty day moving average of $8.31 and a two-hundred day moving average of $9.24. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $906.71 million, a P/E ratio of -11.58 and a beta of 1.19. Piedmont Office Realty Trust, Inc. has a 1 year low of $6.13 and a 1 year high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $142.16 million. As a group, research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $0.125 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.50 annualized dividend and a dividend yield of 6.85%. Piedmont Office Realty Trust's dividend payout ratio is presently -79.37%.

Wall Street Analyst Weigh In

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

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.