Entropy Technologies LP Purchases Shares of 21,979 Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Entropy Technologies LP purchased a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,979 shares of the real estate investment trust’s stock, valued at approximately $222,000.

Several other institutional investors also recently modified their holdings of PDM. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Piedmont Office Realty Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,241 shares during the period. Blue Trust Inc. lifted its stake in shares of Piedmont Office Realty Trust by 38.3% in the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,288 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Piedmont Office Realty Trust by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 1,311 shares during the last quarter. abrdn plc lifted its position in shares of Piedmont Office Realty Trust by 5.9% in the 3rd quarter. abrdn plc now owns 24,341 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 1,366 shares during the period. Finally, CWM LLC lifted its stake in shares of Piedmont Office Realty Trust by 15.1% in the 3rd quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 1,678 shares during the period. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Trading Down 2.0 %

NYSE PDM opened at $9.44 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $11.11. The stock has a market cap of $1.17 billion, a P/E ratio of -15.23 and a beta of 1.21. The stock has a 50 day simple moving average of $10.07 and a two-hundred day simple moving average of $8.66.

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

Piedmont Office Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PDM shares. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial reaffirmed a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th. Finally, Robert W. Baird increased their price target on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

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.