KLP Kapitalforvaltning AS Makes New $246,000 Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

KLP Kapitalforvaltning AS acquired a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,600 shares of the real estate investment trust’s stock, valued at approximately $246,000.

Other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Piedmont Office Realty Trust by 358.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust’s stock valued at $9,050,000 after purchasing an additional 700,616 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Piedmont Office Realty Trust by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock worth $15,501,000 after buying an additional 478,560 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $1,313,000. Barclays PLC lifted its stake in shares of Piedmont Office Realty Trust by 88.7% during the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock valued at $2,398,000 after buying an additional 111,596 shares during the period. Finally, Vestcor Inc acquired a new stake in Piedmont Office Realty Trust during the fourth quarter worth approximately $1,020,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Trading Down 2.8 %

PDM stock opened at $6.50 on Tuesday. 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 cap of $808.03 million, a price-to-earnings ratio of -10.31 and a beta of 1.21. The business has a fifty day simple moving average of $7.54 and a 200-day simple moving average of $8.83. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.19 and a 52 week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last announced 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 company had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. On average, equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $0.125 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.50 annualized dividend and a yield of 7.70%. Piedmont Office Realty Trust’s payout ratio is -79.37%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Robert W. Baird cut their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Baird R W downgraded Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Truist Financial reissued a “buy” rating and issued a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th.

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.