Landscape Capital Management L.L.C. Buys New Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Landscape Capital Management L.L.C. purchased a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,137 shares of the real estate investment trust’s stock, valued at approximately $123,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDM. Swedbank AB acquired a new position in shares of Piedmont Office Realty Trust in the 1st quarter valued at $3,488,000. Vanguard Group Inc. grew its position in Piedmont Office Realty Trust by 2.1% during the 1st 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 during the last quarter. SG Americas Securities LLC increased its stake 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 valued at $4,050,000 after purchasing an additional 57,347 shares during the period. Creative Planning raised its holdings in shares of 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 valued at $387,000 after buying an additional 3,496 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Piedmont Office Realty Trust by 7,041.3% during the second quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after buying an additional 901,292 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

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

Piedmont Office Realty Trust Trading Up 0.9 %

Shares of Piedmont Office Realty Trust stock opened at $9.44 on Tuesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -15.23 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a 52-week low of $5.78 and a 52-week high of $11.11. The company’s 50-day simple moving average is $10.04 and its 200-day simple moving average is $8.78. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. The business had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $143.56 million. During the same period last year, the company posted $0.43 earnings per share. As a group, equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

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

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.