Swedbank AB Has $3.51 Million Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Swedbank AB lessened its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 16.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 347,359 shares of the real estate investment trust’s stock after selling 70,698 shares during the quarter. Swedbank AB’s holdings in Piedmont Office Realty Trust were worth $3,508,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Piedmont Office Realty Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,241 shares during the last quarter. Blue Trust Inc. lifted its holdings in Piedmont Office Realty Trust by 38.3% during the 2nd quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,288 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Piedmont Office Realty Trust by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 1,311 shares during the last quarter. abrdn plc lifted its holdings in Piedmont Office Realty Trust by 5.9% during the 3rd quarter. abrdn plc now owns 24,341 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 1,366 shares during the last quarter. Finally, CWM LLC lifted its holdings in Piedmont Office Realty Trust by 15.1% during the 3rd quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 1,678 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Down 1.0 %

PDM stock opened at $9.68 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -15.85 and a beta of 1.21. The business’s fifty day moving average price is $10.04 and its two-hundred day moving average price is $8.80. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.81 and a fifty-two week high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.46). The firm had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same quarter in the previous year, the business earned $0.43 EPS. On average, equities analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 22nd will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 5.17%. The ex-dividend date is Friday, November 22nd. Piedmont Office Realty Trust’s payout ratio is -80.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PDM shares. Robert W. Baird raised their price target on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a report on Wednesday, August 14th.

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.