ClearAlpha Technologies LP Buys New Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

ClearAlpha Technologies LP purchased a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 65,154 shares of the real estate investment trust’s stock, valued at approximately $658,000. ClearAlpha Technologies LP owned approximately 0.05% of Piedmont Office Realty Trust at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PDM. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Piedmont Office Realty Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,241 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Piedmont Office Realty Trust by 38.3% in the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,288 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Piedmont Office Realty Trust by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 1,311 shares during the last quarter. abrdn plc raised its position in Piedmont Office Realty Trust by 5.9% during the third quarter. abrdn plc now owns 24,341 shares of the real estate investment trust’s stock worth $246,000 after acquiring an additional 1,366 shares in the last quarter. Finally, CWM LLC lifted its stake in Piedmont Office Realty Trust by 15.1% in the third quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 1,678 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PDM shares. Truist Financial restated a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th. Robert W. Baird boosted their price target on 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.

Piedmont Office Realty Trust Trading Down 1.7 %

PDM stock opened at $9.52 on Monday. Piedmont Office Realty Trust, Inc. has a one year low of $5.93 and a one year high of $11.11. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -15.35 and a beta of 1.21. The company has a fifty day moving average price of $10.01 and a two-hundred day moving average price of $8.84. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.46). The company had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same period in the previous year, the firm posted $0.43 EPS. Equities analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.25%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -80.64%.

About Piedmont Office Realty Trust

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.