Piedmont Office Realty Trust, Inc. (NYSE:PDM) Stake Boosted by Vision Capital Corp

Vision Capital Corp grew its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 65.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,526,777 shares of the real estate investment trust’s stock after purchasing an additional 1,389,477 shares during the period. Piedmont Office Realty Trust makes up about 5.2% of Vision Capital Corp’s portfolio, making the stock its 2nd biggest holding. Vision Capital Corp’s holdings in Piedmont Office Realty Trust were worth $32,270,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PDM. Barclays PLC increased its stake 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 valued at $2,398,000 after purchasing an additional 111,596 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Piedmont Office Realty Trust by 45.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock worth $15,501,000 after acquiring an additional 478,560 shares during the last quarter. Franklin Resources Inc. lifted its position in Piedmont Office Realty Trust by 72.5% during the 3rd quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust’s stock worth $1,519,000 after acquiring an additional 62,233 shares during the period. Choreo LLC increased its holdings in shares of Piedmont Office Realty Trust by 4.0% in the fourth quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust’s stock valued at $484,000 after purchasing an additional 2,078 shares during the period. Finally, Wilsey Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 2.0% in the fourth quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust’s stock valued at $36,175,000 after purchasing an additional 77,220 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Up 1.4 %

Piedmont Office Realty Trust stock opened at $6.56 on Monday. The business’s 50-day moving average price is $7.08 and its 200 day moving average price is $8.57. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The firm has a market cap of $816.37 million, a price-to-earnings ratio of -10.42 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.81 and a 52 week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $143.23 million for the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.62%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -79.37%.

Analyst Upgrades and Downgrades

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

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.