Helix Partners Management LP Makes New Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Helix Partners Management LP acquired a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 700,000 shares of the real estate investment trust’s stock, valued at approximately $6,405,000. Piedmont Office Realty Trust comprises 1.1% of Helix Partners Management LP’s holdings, making the stock its 7th biggest position. Helix Partners Management LP owned approximately 0.56% of Piedmont Office Realty Trust at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its position 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 purchasing an additional 1,666 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 25.4% in the 4th 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 in the last quarter. Xponance Inc. bought a new position in shares of Piedmont Office Realty Trust in the fourth quarter valued at $95,000. Arkadios Wealth Advisors acquired a new position in Piedmont Office Realty Trust during the 4th quarter valued at about $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. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Up 1.9 %

PDM opened at $7.56 on Thursday. The business’s fifty day simple moving average is $7.67 and its 200 day simple moving average is $8.91. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.27 and a 52 week high of $11.12. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The stock has a market cap of $940.52 million, a PE ratio of -12.00 and a beta of 1.25.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $143.23 million for the quarter, compared to analysts’ expectations of $142.16 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. As a group, research analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a dividend of $0.125 per share. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. 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. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Robert W. Baird reduced their price target 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

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.