Landscape Capital Management L.L.C. Makes New $123,000 Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Landscape Capital Management L.L.C. purchased a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,137 shares of the real estate investment trust’s stock, valued at approximately $123,000.

Several other large investors have also recently made changes to their positions in the stock. Wilsey Asset Management Inc. lifted its stake in Piedmont Office Realty Trust by 50.2% during the second quarter. Wilsey Asset Management Inc. now owns 3,899,800 shares of the real estate investment trust’s stock worth $28,274,000 after purchasing an additional 1,302,681 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Piedmont Office Realty Trust by 7,041.3% in the 2nd quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock valued at $6,627,000 after buying an additional 901,292 shares during the period. Swedbank AB acquired a new position in Piedmont Office Realty Trust during the 1st quarter worth about $3,488,000. Vanguard Group Inc. boosted its holdings in Piedmont Office Realty Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock valued at $135,115,000 after acquiring an additional 394,282 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Piedmont Office Realty Trust in the 3rd quarter valued at about $1,812,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Stock Performance

Shares of PDM opened at $9.44 on Tuesday. Piedmont Office Realty Trust, Inc. has a 1 year low of $5.78 and a 1 year high of $11.11. The stock has a market capitalization of $1.17 billion, a PE ratio of -15.23 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. The stock has a 50-day simple moving average of $10.04 and a 200-day simple moving average of $8.78.

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

Piedmont Office Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 22nd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio is presently -80.65%.

Analyst Ratings Changes

PDM has been the topic of several research reports. Robert W. Baird increased their price target on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research 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.