Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,106,859 shares of the real estate investment trust’s stock after buying an additional 546,242 shares during the period. Wellington Management Group LLP owned approximately 1.70% of Piedmont Office Realty Trust worth $19,278,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hudson Edge Investment Partners Inc. grew its position in Piedmont Office Realty Trust by 4.8% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 1,180 shares in the last quarter. Harbour Investments Inc. boosted its stake 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 valued at $55,000 after purchasing an additional 1,216 shares during the period. Metis Global Partners LLC boosted its stake in shares of Piedmont Office Realty Trust by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 1,453 shares during the period. TD Private Client Wealth LLC increased its stake in 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 buying an additional 1,666 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Piedmont Office Realty Trust by 8.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 1,713 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PDM shares. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Robert W. Baird lowered their price objective 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. 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 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 Down 2.8 %

Shares of Piedmont Office Realty Trust stock opened at $6.50 on Tuesday. The business has a 50-day moving average price of $7.54 and a 200 day moving average price of $8.83. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $6.19 and a fifty-two week high of $11.12. The firm has a market cap of $808.03 million, a P/E ratio of -10.31 and a beta of 1.21. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share 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. On average, sell-side analysts forecast 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 7.70%. 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.