Landscape Capital Management L.L.C. Has $95,000 Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Landscape Capital Management L.L.C. lessened its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,363 shares of the real estate investment trust’s stock after selling 1,774 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Piedmont Office Realty Trust were worth $95,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Quantinno Capital Management LP increased its holdings 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 purchasing an additional 1,713 shares in the last quarter. Jane Street Group LLC increased its holdings in Piedmont Office Realty Trust by 10.1% during the 3rd quarter. Jane Street Group LLC now owns 318,924 shares of the real estate investment trust’s stock worth $3,221,000 after purchasing an additional 29,139 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Piedmont Office Realty Trust by 1.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 166,383 shares of the real estate investment trust’s stock worth $1,680,000 after purchasing an additional 2,300 shares in the last quarter. Barclays PLC increased its holdings in Piedmont Office Realty Trust by 88.7% during the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock worth $2,398,000 after purchasing an additional 111,596 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Piedmont Office Realty Trust by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust’s stock worth $32,499,000 after purchasing an additional 48,944 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PDM. Truist Financial restated a “buy” rating and issued a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Baird R W downgraded shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird cut their target price on shares of 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 Performance

Shares of NYSE:PDM opened at $6.57 on Thursday. The company’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $8.75. The stock has a market capitalization of $817.36 million, a price-to-earnings ratio of -10.43 and a beta of 1.21. 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 1 year low of $5.81 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 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The firm had revenue of $143.23 million for the quarter, compared to analysts’ expectations of $142.16 million. As a group, research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 annualized dividend and a dividend yield of 7.61%. Piedmont Office Realty Trust’s dividend payout ratio is -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.