Piedmont Office Realty Trust, Inc. (NYSE:PDM) Stock Holdings Lifted by Metis Global Partners LLC

Metis Global Partners LLC boosted its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,225 shares of the real estate investment trust’s stock after purchasing an additional 1,453 shares during the quarter. Metis Global Partners LLC’s holdings in Piedmont Office Realty Trust were worth $130,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in Piedmont Office Realty Trust in the 4th quarter valued at about $168,000. Bank of New York Mellon Corp lifted its position in Piedmont Office Realty Trust by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 596,590 shares of the real estate investment trust’s stock valued at $5,459,000 after purchasing an additional 65,714 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Piedmont Office Realty Trust in the 4th quarter valued at about $506,000. Hudson Edge Investment Partners Inc. lifted its position in Piedmont Office Realty Trust by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Piedmont Office Realty Trust by 0.9% in the 4th quarter. Rhumbline Advisers now owns 227,700 shares of the real estate investment trust’s stock valued at $2,083,000 after purchasing an additional 1,954 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PDM. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Robert W. Baird lowered their target price on shares of 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. Truist Financial reissued a “buy” rating and set a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Finally, Baird R W cut shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th.

Piedmont Office Realty Trust Stock Down 1.7 %

Piedmont Office Realty Trust stock opened at $7.16 on Friday. The stock has a market cap of $889.68 million, a price-to-earnings ratio of -11.36 and a beta of 1.19. 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’s 50-day moving average price is $8.28 and its two-hundred day moving average price is $9.22. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.13 and a 52 week high of $11.12.

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

Piedmont Office Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.50 annualized dividend and a dividend yield of 6.99%. Piedmont Office Realty Trust’s dividend payout ratio is currently -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.