Piedmont Office Realty Trust, Inc. (NYSE:PDM) Position Increased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 727,347 shares of the real estate investment trust’s stock after buying an additional 87,618 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Piedmont Office Realty Trust were worth $7,346,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised 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 worth $48,000 after purchasing an additional 1,241 shares during the period. Blue Trust Inc. increased its stake in Piedmont Office Realty Trust by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,288 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Piedmont Office Realty Trust by 2.9% during the 2nd 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 period. abrdn plc lifted its stake 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 valued at $246,000 after buying an additional 1,366 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of 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 worth $129,000 after buying an additional 1,678 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Price Performance

Shares of PDM opened at $10.21 on Friday. The business’s 50-day moving average is $10.04 and its 200-day moving average is $8.52. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -16.47 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.37 and a fifty-two week high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). The company had revenue of $139.29 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $0.43 EPS. Equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be given 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 yield of 4.90%. Piedmont Office Realty Trust’s payout ratio is -80.64%.

Analyst Upgrades and Downgrades

PDM has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial reissued a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th. Finally, StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

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.