OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 179,452 Piedmont Office Realty Trust, Inc. (NYSE:PDM)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 179,452 shares of the real estate investment trust’s stock, valued at approximately $1,812,000. OVERSEA CHINESE BANKING Corp Ltd owned 0.14% of Piedmont Office Realty Trust as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of Piedmont Office Realty Trust by 164.8% during the 1st quarter. Russell Investments Group Ltd. now owns 272,302 shares of the real estate investment trust’s stock valued at $1,914,000 after purchasing an additional 169,454 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Piedmont Office Realty Trust by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 22,203 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 1,748 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Piedmont Office Realty Trust by 2.1% in 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 buying an additional 394,282 shares during the last quarter. Quadrature Capital Ltd increased its stake in Piedmont Office Realty Trust by 24.7% during the 1st quarter. Quadrature Capital Ltd now owns 32,640 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 6,467 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Piedmont Office Realty Trust by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,242 shares of the real estate investment trust’s stock valued at $705,000 after acquiring an additional 5,386 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird boosted their price target on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, 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 research report on Wednesday, August 14th.

Piedmont Office Realty Trust Stock Performance

Shares of Piedmont Office Realty Trust stock opened at $9.89 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 price is $10.06 and its 200 day moving average price is $8.62. Piedmont Office Realty Trust, Inc. has a one year low of $5.37 and a one year high of $11.11.

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 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 firm had revenue of $139.29 million for the quarter, compared to analyst estimates of $143.56 million. During the same period in the previous year, the firm posted $0.43 EPS. As a group, research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.5 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 22nd will be issued 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 5.06%. Piedmont Office Realty Trust’s dividend payout ratio is currently -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.