Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Swedbank AB

Swedbank AB decreased its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 16.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 347,359 shares of the real estate investment trust’s stock after selling 70,698 shares during the period. Swedbank AB’s holdings in Piedmont Office Realty Trust were worth $3,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning grew its position in Piedmont Office Realty Trust by 12.3% in the third quarter. Creative Planning now owns 60,002 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 6,577 shares during the last quarter. Inspire Investing LLC acquired a new stake in Piedmont Office Realty Trust during the 3rd quarter worth about $413,000. CWM LLC lifted its stake in Piedmont Office Realty Trust by 15.1% during the third quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 1,678 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Piedmont Office Realty Trust by 16.7% in the third quarter. SG Americas Securities LLC now owns 400,977 shares of the real estate investment trust’s stock worth $4,050,000 after buying an additional 57,347 shares during the period. Finally, Algert Global LLC increased its position in shares of Piedmont Office Realty Trust by 17.7% in the second quarter. Algert Global LLC now owns 130,973 shares of the real estate investment trust’s stock worth $950,000 after acquiring an additional 19,681 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Price Performance

NYSE PDM opened at $11.08 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.40 and a quick ratio of 2.40. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -16.54 and a beta of 1.22. The company has a 50 day simple moving average of $9.73 and a 200-day simple moving average of $8.16. Piedmont Office Realty Trust, Inc. has a 52-week low of $4.91 and a 52-week high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.45). The company had revenue of $143.26 million during the quarter, compared to analysts’ expectations of $141.25 million. Piedmont Office Realty Trust had a negative return on equity of 4.84% and a negative net margin of 14.24%. Equities research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were given a dividend of $0.125 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 4.51%. Piedmont Office Realty Trust’s payout ratio is -74.63%.

Analyst Ratings Changes

A number of research firms recently commented on PDM. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd.

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.