Nomura Asset Management Co. Ltd. Boosts Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Nomura Asset Management Co. Ltd. raised its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,383 shares of the real estate investment trust’s stock after buying an additional 2,300 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.13% of Piedmont Office Realty Trust worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PDM. Blue Trust Inc. grew its stake in Piedmont Office Realty Trust by 38.3% during the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,288 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Piedmont Office Realty Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,241 shares in the last quarter. Optas LLC bought a new stake in shares of Piedmont Office Realty Trust in the third quarter worth about $101,000. Meeder Asset Management Inc. purchased a new stake in shares of Piedmont Office Realty Trust in the second quarter worth about $76,000. Finally, Sei Investments Co. bought a new position in Piedmont Office Realty Trust during the second quarter valued at approximately $85,000. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Price Performance

PDM stock opened at $9.36 on Friday. The company has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $8.99. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.93 and a 52 week high of $11.11. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $1.16 billion, a P/E ratio of -15.10 and a beta of 1.20.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly 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). Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. The company had revenue of $139.29 million during the quarter, compared to analysts’ expectations of $143.56 million. During the same quarter in the prior year, the business posted $0.43 EPS. Analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.50 annualized dividend and a yield of 5.34%. Piedmont Office Realty Trust’s payout ratio is presently -80.64%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price objective on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Piedmont Office Realty Trust Company 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.