Ilmarinen Mutual Pension Insurance Co Has $787,000 Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Ilmarinen Mutual Pension Insurance Co boosted its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 681.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,000 shares of the real estate investment trust’s stock after acquiring an additional 75,000 shares during the period. Ilmarinen Mutual Pension Insurance Co owned 0.07% of Piedmont Office Realty Trust worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PDM. Wilsey Asset Management Inc. raised its position in shares of Piedmont Office Realty Trust by 2.0% in the fourth quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust’s stock valued at $36,175,000 after purchasing an additional 77,220 shares during the period. Geode Capital Management LLC raised its holdings in Piedmont Office Realty Trust by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust’s stock valued at $32,499,000 after acquiring an additional 48,944 shares during the period. Prudential Financial Inc. lifted its position in Piedmont Office Realty Trust by 34.6% during the fourth quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust’s stock worth $24,882,000 after acquiring an additional 699,339 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Piedmont Office Realty Trust by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust’s stock worth $19,278,000 after acquiring an additional 546,242 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Piedmont Office Realty Trust by 16.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,780,288 shares of the real estate investment trust’s stock valued at $16,290,000 after purchasing an additional 245,518 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial reissued a “buy” rating and set a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Baird R W cut shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Robert W. Baird cut their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, February 24th.

Piedmont Office Realty Trust Price Performance

Shares of NYSE PDM opened at $6.68 on Friday. The business has a fifty day moving average price of $7.59 and a two-hundred day moving average price of $8.87. The stock has a market capitalization of $831.29 million, a PE ratio of -10.61 and a beta of 1.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The business had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. As a group, equities analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -79.37%.

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.