Helix Partners Management LP Takes $6.41 Million Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Helix Partners Management LP purchased a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 700,000 shares of the real estate investment trust’s stock, valued at approximately $6,405,000. Piedmont Office Realty Trust accounts for approximately 1.1% of Helix Partners Management LP’s portfolio, making the stock its 7th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its stake 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. Harbour Investments Inc. grew its holdings in Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 1,216 shares during the period. Xponance Inc. bought a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $95,000. Arkadios Wealth Advisors purchased a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $105,000. Finally, Cibc World Markets Corp purchased a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $106,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Up 1.9 %

PDM stock opened at $7.56 on Thursday. The stock has a market capitalization of $940.52 million, a P/E ratio of -12.00 and a beta of 1.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. Piedmont Office Realty Trust, Inc. has a 1-year low of $6.27 and a 1-year high of $11.12. The business has a fifty day moving average price of $7.67 and a 200-day moving average price of $8.91.

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

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $0.125 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.61%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -79.37%.

Analyst Ratings Changes

A number of research firms recently weighed in on PDM. Robert W. Baird reduced their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Truist Financial restated a “buy” rating and set a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Finally, 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.

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.