Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,721 shares of the real estate investment trust’s stock after buying an additional 10,012 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Piedmont Office Realty Trust worth $791,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its position 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 acquiring an additional 1,666 shares in the last quarter. Harbour Investments Inc. grew its holdings in 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 valued at $55,000 after purchasing an additional 1,216 shares in the last quarter. Xponance Inc. purchased a new stake in Piedmont Office Realty Trust during the 4th quarter worth $95,000. Arkadios Wealth Advisors acquired a new position in Piedmont Office Realty Trust in the 4th quarter worth $105,000. Finally, Cibc World Markets Corp purchased a new position in Piedmont Office Realty Trust in the 4th quarter valued at about $106,000. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Trading Up 1.9 %

NYSE:PDM opened at $7.56 on Thursday. The company has a market cap of $940.52 million, a PE ratio of -12.00 and a beta of 1.25. The business’s 50 day moving average is $7.67 and its two-hundred day moving average is $8.91. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.27 and a 52 week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, hitting 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 the consensus estimate of $142.16 million. On average, analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS 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 paid a dividend of $0.125 per share. The ex-dividend date was Friday, February 21st. This represents a $0.50 annualized dividend and a yield of 6.61%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -79.37%.

Analyst Upgrades and Downgrades

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

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.