Massachusetts Financial Services Co. MA Has $10.80 Million Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Massachusetts Financial Services Co. MA lifted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 47.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,069,508 shares of the real estate investment trust’s stock after acquiring an additional 344,694 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.86% of Piedmont Office Realty Trust worth $10,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Swedbank AB bought a new stake in Piedmont Office Realty Trust in the first quarter worth $3,488,000. Vanguard Group Inc. boosted its holdings in Piedmont Office Realty Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock worth $135,115,000 after purchasing an additional 394,282 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Piedmont Office Realty Trust by 16.7% in the third quarter. SG Americas Securities LLC now owns 400,977 shares of the real estate investment trust’s stock worth $4,050,000 after purchasing an additional 57,347 shares in the last quarter. Creative Planning boosted its holdings in Piedmont Office Realty Trust by 7.0% in the second quarter. Creative Planning now owns 53,425 shares of the real estate investment trust’s stock worth $387,000 after purchasing an additional 3,496 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Piedmont Office Realty Trust by 7,041.3% in the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after purchasing an additional 901,292 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Stock Up 3.6 %

NYSE PDM opened at $9.78 on Wednesday. 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 firm has a 50-day simple moving average of $10.04 and a 200 day simple moving average of $8.78. Piedmont Office Realty Trust, Inc. has a twelve month low of $5.78 and a twelve month high of $11.11. The stock has a market cap of $1.21 billion, a PE ratio of -15.77 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share 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 during the quarter, compared to the consensus estimate of $143.56 million. During the same quarter in the previous year, the business posted $0.43 EPS. On average, research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The firm 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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.11%. The ex-dividend date is Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -80.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial restated a “buy” rating and set a $11.00 price target (up from $10.00) on shares of Piedmont Office Realty Trust in a report on Wednesday, August 14th.

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.