Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 596,590 shares of the real estate investment trust’s stock after buying an additional 65,714 shares during the period. Bank of New York Mellon Corp’s holdings in Piedmont Office Realty Trust were worth $5,459,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PDM. TD Private Client Wealth LLC grew its position in shares of Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,666 shares in the last quarter. Arkadios Wealth Advisors bought a new position in Piedmont Office Realty Trust during the fourth quarter worth $105,000. Landscape Capital Management L.L.C. acquired a new position in Piedmont Office Realty Trust in the third quarter worth $123,000. Metis Global Partners LLC bought a new stake in Piedmont Office Realty Trust during the third quarter valued at $129,000. Finally, Blue Trust Inc. raised its holdings in shares of Piedmont Office Realty Trust by 24.6% during the fourth quarter. Blue Trust Inc. now owns 18,923 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 3,739 shares during the period. 84.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Piedmont Office Realty Trust Stock Up 2.6 %

Piedmont Office Realty Trust stock opened at $7.33 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. Piedmont Office Realty Trust, Inc. has a one year low of $6.13 and a one year high of $11.12. The company has a 50-day simple moving average of $7.99 and a 200-day simple moving average of $9.10. The firm has a market capitalization of $910.81 million, a P/E ratio of -11.63 and a beta of 1.25.

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 (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $142.16 million. As a group, equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current 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 issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio (DPR) 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.