Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,185,153 shares of the real estate investment trust’s stock after selling 32,060 shares during the period. Geode Capital Management LLC owned approximately 2.57% of Piedmont Office Realty Trust worth $29,150,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Harbour Investments Inc. raised its position 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 period. Xponance Inc. acquired a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at about $95,000. Arkadios Wealth Advisors purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter valued at about $105,000. Cibc World Markets Corp acquired a new position in Piedmont Office Realty Trust during the 4th quarter worth approximately $106,000. Finally, Meeder Asset Management Inc. boosted its holdings in Piedmont Office Realty Trust by 15.8% in the 4th quarter. Meeder Asset Management Inc. now owns 12,125 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 1,650 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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. Robert W. Baird reduced their price target on shares of 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. 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. Finally, Truist Financial reiterated a “buy” rating and issued a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

Piedmont Office Realty Trust Price Performance

Shares of NYSE:PDM opened at $6.56 on Friday. The company has a market cap of $816.37 million, a PE ratio of -10.42 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.81 and a fifty-two week high of $11.12. The firm has a 50-day simple moving average of $7.11 and a 200 day simple moving average of $8.61. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $143.23 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 7.62%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is presently -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.