Fox Run Management L.L.C. Takes Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Fox Run Management L.L.C. acquired a new position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 37,755 shares of the real estate investment trust’s stock, valued at approximately $345,000.

Several other institutional investors also recently bought and sold shares of PDM. Wilsey Asset Management Inc. grew its position in shares of Piedmont Office Realty Trust by 2.0% during the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust’s stock worth $36,175,000 after buying an additional 77,220 shares in the last quarter. Geode Capital Management LLC lifted its stake in Piedmont Office Realty Trust by 1.5% in the third quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust’s stock worth $32,499,000 after acquiring an additional 48,944 shares during the period. JPMorgan Chase & Co. grew its holdings in Piedmont Office Realty Trust by 45.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock worth $15,501,000 after acquiring an additional 478,560 shares in the last quarter. Systematic Financial Management LP increased its position in Piedmont Office Realty Trust by 4.3% during the 3rd quarter. Systematic Financial Management LP now owns 1,162,619 shares of the real estate investment trust’s stock valued at $11,742,000 after purchasing an additional 47,783 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Piedmont Office Realty Trust by 47.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock valued at $10,802,000 after purchasing an additional 344,694 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PDM. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Truist Financial restated a “buy” rating and set a $10.00 price objective (down from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Finally, Robert W. Baird cut 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 note on Monday, February 24th.

Piedmont Office Realty Trust Stock Performance

Shares of PDM stock opened at $7.37 on Thursday. Piedmont Office Realty Trust, Inc. has a 12-month low of $6.27 and a 12-month high of $11.12. The business’s fifty day simple moving average is $7.81 and its 200-day simple moving average is $8.99. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The company has a market cap of $916.03 million, a PE ratio of -11.70 and a beta of 1.25.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The business had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. Analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a yield of 6.78%. Piedmont Office Realty Trust’s payout ratio is -79.37%.

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.