Metis Global Partners LLC Takes Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Metis Global Partners LLC purchased a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,772 shares of the real estate investment trust’s stock, valued at approximately $129,000.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Piedmont Office Realty Trust by 38.3% during the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,288 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Piedmont Office Realty Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,241 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter valued at about $76,000. Bayesian Capital Management LP acquired a new stake in Piedmont Office Realty Trust during the first quarter worth about $81,000. Finally, Sei Investments Co. bought a new position in Piedmont Office Realty Trust in the second quarter worth about $85,000. 84.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Piedmont Office Realty Trust Stock Performance

PDM opened at $9.41 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $10.07 and its 200-day moving average is $8.71. The stock has a market cap of $1.17 billion, a PE ratio of -15.18 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a twelve month low of $5.78 and a twelve month high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last announced 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 business had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. During the same period in the previous year, the firm earned $0.43 EPS. On average, analysts predict that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 annualized dividend and a yield of 5.31%. Piedmont Office Realty Trust’s payout ratio is -80.64%.

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.