Piedmont Office Realty Trust, Inc. (NYSE:PDM) Holdings Cut by Modern Wealth Management LLC

Modern Wealth Management LLC cut its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 45,056 shares of the real estate investment trust’s stock after selling 2,441 shares during the quarter. Modern Wealth Management LLC’s holdings in Piedmont Office Realty Trust were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at approximately $258,000. Daiwa Securities Group Inc. increased its stake in shares of Piedmont Office Realty Trust by 8.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 41,454 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 3,233 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Piedmont Office Realty Trust by 358.6% during 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 in the last quarter. Martingale Asset Management L P lifted its stake in shares of Piedmont Office Realty Trust by 519.5% in the 3rd quarter. Martingale Asset Management L P now owns 102,996 shares of the real estate investment trust’s stock valued at $1,040,000 after purchasing an additional 86,371 shares during the last quarter. Finally, ClearAlpha Technologies LP bought a new stake in Piedmont Office Realty Trust in the third quarter worth $658,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Price Performance

Shares of PDM stock opened at $7.37 on Friday. The company has a market capitalization of $916.26 million, a P/E ratio of -11.69 and a beta of 1.25. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. Piedmont Office Realty Trust, Inc. has a 12 month low of $6.27 and a 12 month high of $11.12. The stock has a 50 day moving average of $7.78 and a two-hundred day moving average of $8.98.

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, meeting analysts’ consensus estimates of $0.37. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The company had revenue of $143.23 million during the quarter, compared to analysts’ expectations of $142.16 million. As a group, equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.79%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is -79.37%.

Wall Street Analysts Forecast Growth

PDM has been the topic of a number of recent analyst reports. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. 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. 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. Finally, Truist Financial reaffirmed a “buy” rating and issued a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th.

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.