Quantbot Technologies LP Makes New $572,000 Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Quantbot Technologies LP purchased a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,519 shares of the real estate investment trust’s stock, valued at approximately $572,000. Quantbot Technologies LP owned about 0.05% of Piedmont Office Realty Trust at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TD Private Client Wealth LLC lifted its stake in Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,666 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 1,216 shares during the last quarter. Xponance Inc. purchased a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at $95,000. Arkadios Wealth Advisors acquired a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at $105,000. Finally, Cibc World Markets Corp purchased a new stake in Piedmont Office Realty Trust during the 4th quarter worth about $106,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDM has been the topic of several analyst reports. Robert W. Baird decreased their price target 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. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Truist Financial reaffirmed a “buy” rating and issued a $10.00 target price (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. Finally, Baird R W downgraded Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th.

Piedmont Office Realty Trust Price Performance

Piedmont Office Realty Trust stock opened at $7.37 on Friday. The firm has a fifty day moving average of $7.78 and a 200-day moving average of $8.98. Piedmont Office Realty Trust, Inc. has a 52-week low of $6.27 and a 52-week high of $11.12. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $916.26 million, a P/E ratio of -11.69 and a beta of 1.25.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting 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 firm had revenue of $143.23 million during the quarter, compared to analysts’ expectations of $142.16 million. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $0.125 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.79%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -79.37%.

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.