Swedbank AB Has $3.51 Million Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Swedbank AB cut its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 347,359 shares of the real estate investment trust’s stock after selling 70,698 shares during the period. Swedbank AB owned 0.28% of Piedmont Office Realty Trust worth $3,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PDM. Wilsey Asset Management Inc. lifted its position in Piedmont Office Realty Trust by 50.2% during the 2nd quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock valued at $28,274,000 after purchasing an additional 1,302,681 shares during the period. Marshall Wace LLP increased its stake in shares of Piedmont Office Realty Trust by 7,041.3% in the 2nd quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock valued at $6,627,000 after acquiring an additional 901,292 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Piedmont Office Realty Trust by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock valued at $135,115,000 after acquiring an additional 394,282 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Piedmont Office Realty Trust by 47.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock valued at $10,802,000 after acquiring an additional 344,694 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at about $1,812,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird upped their price target on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th.

Piedmont Office Realty Trust Price Performance

NYSE PDM opened at $9.68 on Thursday. The business has a 50 day simple moving average of $10.04 and a 200 day simple moving average of $8.80. Piedmont Office Realty Trust, Inc. has a 52-week low of $5.81 and a 52-week high of $11.11. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -15.85 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM) last posted 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 business had revenue of $139.29 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $0.43 earnings per share. Analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.50 annualized dividend and a dividend yield of 5.17%. Piedmont Office Realty Trust’s dividend payout ratio is currently -80.64%.

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.