Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. boosted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 15.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,125 shares of the real estate investment trust’s stock after acquiring an additional 1,650 shares during the quarter. Meeder Asset Management Inc.’s holdings in Piedmont Office Realty Trust were worth $111,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brookfield Corp ON acquired a new stake in shares of Piedmont Office Realty Trust in the third quarter worth approximately $7,123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Piedmont Office Realty Trust by 358.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust’s stock worth $9,050,000 after purchasing an additional 700,616 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of 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 buying an additional 699,339 shares in the last quarter. Norges Bank purchased a new position in shares of Piedmont Office Realty Trust in the fourth quarter worth about $5,106,000. Finally, Wellington Management Group LLP lifted its stake in shares of Piedmont Office Realty Trust by 35.0% in 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 buying an additional 546,242 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. 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 reiterated a “buy” rating and set a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. Baird R W cut Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Robert W. Baird cut their target price on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, February 24th.

Piedmont Office Realty Trust Stock Up 0.5 %

Shares of NYSE PDM opened at $7.41 on Wednesday. The company has a market capitalization of $921.24 million, a P/E ratio of -11.75 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. The company has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $8.92. Piedmont Office Realty Trust, Inc. has a 1 year low of $6.27 and a 1 year high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last posted its 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 company had revenue of $143.23 million for the quarter, compared to the consensus estimate of $142.16 million. On average, equities research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share 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. Shareholders of record on Friday, February 21st were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 6.75%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -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.