Glenmede Trust Co. NA Trims Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Glenmede Trust Co. NA cut its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,748,563 shares of the real estate investment trust’s stock after selling 24,106 shares during the period. Glenmede Trust Co. NA owned approximately 1.41% of Piedmont Office Realty Trust worth $17,660,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PDM. Vanguard Group Inc. grew its position 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 valued at $135,115,000 after acquiring an additional 394,282 shares during the last quarter. Quadrature Capital Ltd increased its stake in Piedmont Office Realty Trust by 24.7% in 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 during the period. Price T Rowe Associates Inc. MD lifted its holdings in Piedmont Office Realty Trust by 5.7% during the 1st 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 buying an additional 5,386 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Piedmont Office Realty Trust during the 1st quarter valued at about $81,000. Finally, Tidal Investments LLC boosted its position in Piedmont Office Realty Trust by 72.1% in the 1st quarter. Tidal Investments LLC now owns 36,749 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 15,398 shares during the period. 84.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PDM has been the subject of several research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th. Robert W. Baird lifted their target price on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Piedmont Office Realty Trust Trading Down 1.0 %

NYSE PDM opened at $9.68 on Friday. Piedmont Office Realty Trust, Inc. has a one year low of $5.81 and a one year high of $11.11. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. The company’s 50-day simple moving average is $10.03 and its two-hundred day simple moving average is $8.81.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.46). The business had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same period in the previous year, the business earned $0.43 earnings per share. Analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Friday, November 22nd. Piedmont Office Realty Trust’s 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.