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

Wellington Management Group LLP boosted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 35.0% during 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’s holdings in Piedmont Office Realty Trust were worth $19,278,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Piedmont Office Realty Trust by 358.6% during the third 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 acquiring an additional 700,616 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Piedmont Office Realty Trust by 34.6% in the fourth quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust’s stock valued at $24,882,000 after purchasing an additional 699,339 shares during the period. Norges Bank acquired a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $5,106,000. JPMorgan Chase & Co. raised its holdings in shares of Piedmont Office Realty Trust by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock valued at $15,501,000 after buying an additional 478,560 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Piedmont Office Realty Trust during the fourth quarter worth approximately $1,313,000. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Stock Down 2.8 %

Shares of PDM stock opened at $6.50 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. The stock has a market cap of $808.03 million, a PE ratio of -10.31 and a beta of 1.21. The business’s fifty day moving average is $7.54 and its 200-day moving average is $8.83. Piedmont Office Realty Trust, Inc. has a 1 year low of $6.19 and a 1 year high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, hitting the consensus estimate 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. Equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 7.70%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is presently -79.37%.

Wall Street Analyst Weigh In

PDM has been the topic of several analyst reports. Baird R W cut Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Truist Financial reissued a “buy” rating and set a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Robert W. Baird reduced their price objective on shares of 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. Finally, StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th.

Piedmont Office Realty Trust Company 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.