Private Advisor Group LLC Has $129,000 Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Private Advisor Group LLC reduced its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,727 shares of the real estate investment trust’s stock after selling 1,080 shares during the period. Private Advisor Group LLC’s holdings in Piedmont Office Realty Trust were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of Piedmont Office Realty Trust by 8.3% in the 3rd quarter. Signaturefd LLC now owns 27,511 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 2,111 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Piedmont Office Realty Trust by 226.3% in the 3rd quarter. Blue Trust Inc. now owns 15,184 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 10,530 shares in the last quarter. Creative Planning boosted its stake in shares of Piedmont Office Realty Trust by 12.3% in the 3rd quarter. Creative Planning now owns 60,002 shares of the real estate investment trust’s stock valued at $606,000 after purchasing an additional 6,577 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at approximately $413,000. Finally, CWM LLC boosted its position in Piedmont Office Realty Trust by 15.1% during the 3rd quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 1,678 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial reiterated a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

Piedmont Office Realty Trust Stock Up 0.8 %

Piedmont Office Realty Trust stock opened at $10.29 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. Piedmont Office Realty Trust, Inc. has a 52-week low of $5.37 and a 52-week high of $11.11. The firm has a 50 day moving average price of $10.05 and a two-hundred day moving average price of $8.55. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -16.60 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. The firm had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. During the same quarter in the previous year, the business posted $0.43 EPS. Equities analysts predict that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be paid a $0.125 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.50 annualized dividend and a dividend yield of 4.86%. Piedmont Office Realty Trust’s dividend payout ratio is currently -80.65%.

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.