Y Intercept Hong Kong Ltd Purchases Shares of 55,309 Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Y Intercept Hong Kong Ltd bought a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,309 shares of the real estate investment trust’s stock, valued at approximately $506,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Piedmont Office Realty Trust by 34.8% during the 3rd 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 in the last quarter. TD Private Client Wealth LLC grew its position in shares of Piedmont Office Realty Trust by 51.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,666 shares in the last quarter. Optas LLC acquired a new position in shares of Piedmont Office Realty Trust during the 3rd quarter worth approximately $101,000. Arkadios Wealth Advisors acquired a new position in shares of Piedmont Office Realty Trust during the 4th quarter worth approximately $105,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Piedmont Office Realty Trust during the 3rd quarter worth approximately $123,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PDM shares. Robert W. Baird decreased their target price on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Truist Financial restated a “buy” rating and set a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Baird R W lowered shares of 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 Stock Performance

NYSE PDM opened at $7.60 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $944.00 million, a price-to-earnings ratio of -12.06 and a beta of 1.19. The firm’s 50 day simple moving average is $8.37 and its 200 day simple moving average is $9.26. Piedmont Office Realty Trust, Inc. has a 1 year low of $5.95 and a 1 year high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $143.23 million for the quarter, compared to analyst estimates of $142.16 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. As a group, research analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.58%. The ex-dividend date is Friday, February 21st. Piedmont Office Realty Trust’s payout ratio is -79.37%.

About Piedmont Office Realty Trust

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.