Cibc World Markets Corp Makes New $106,000 Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Cibc World Markets Corp bought a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 4th quarter, Holdings Channel reports. The institutional investor bought 11,554 shares of the real estate investment trust’s stock, valued at approximately $106,000.

Other large investors also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its holdings in Piedmont Office Realty Trust by 51.3% in the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,666 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Piedmont Office Realty Trust by 25.4% during the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 1,216 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at about $105,000. Inceptionr LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at approximately $117,000. Finally, Metis Global Partners LLC boosted its stake in Piedmont Office Realty Trust by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust’s stock worth $130,000 after acquiring an additional 1,453 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Truist Financial reissued a “buy” rating and issued a $10.00 target price (down from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Baird R W downgraded Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Robert W. Baird cut their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, February 24th.

Piedmont Office Realty Trust Price Performance

PDM stock opened at $7.37 on Friday. The stock has a 50-day moving average price of $7.78 and a two-hundred day moving average price of $8.98. Piedmont Office Realty Trust, Inc. has a 1 year low of $6.27 and a 1 year high of $11.12. The stock has a market cap of $916.26 million, a PE ratio of -11.69 and a beta of 1.25. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $143.23 million during the quarter, compared to the consensus estimate of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. Equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is presently -79.37%.

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.