Penserra Capital Management LLC grew its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM – Free Report) by 14.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,240 shares of the real estate investment trust’s stock after purchasing an additional 9,116 shares during the quarter. Penserra Capital Management LLC owned about 0.06% of Piedmont Office Realty Trust worth $405,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV raised its holdings in Piedmont Office Realty Trust by 52.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,142 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 5,525 shares during the period. Toroso Investments LLC grew its holdings in Piedmont Office Realty Trust by 20.0% during the 3rd quarter. Toroso Investments LLC now owns 20,916 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 3,480 shares in the last quarter. Royal Bank of Canada grew its holdings in Piedmont Office Realty Trust by 39.1% during the 3rd quarter. Royal Bank of Canada now owns 104,270 shares of the real estate investment trust’s stock valued at $586,000 after buying an additional 29,287 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Piedmont Office Realty Trust by 86.6% in the third quarter. Glenmede Trust Co. NA now owns 1,695,612 shares of the real estate investment trust’s stock worth $9,529,000 after buying an additional 786,699 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Piedmont Office Realty Trust by 67.4% during the third quarter. AQR Capital Management LLC now owns 1,172,355 shares of the real estate investment trust’s stock valued at $6,589,000 after acquiring an additional 471,945 shares in the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd.
Check Out Our Latest Research Report on Piedmont Office Realty Trust
Piedmont Office Realty Trust Price Performance
Piedmont Office Realty Trust stock opened at $6.39 on Wednesday. The business has a 50-day simple moving average of $6.76 and a 200 day simple moving average of $6.36. Piedmont Office Realty Trust, Inc. has a 52 week low of $4.91 and a 52 week high of $8.47. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.49 and a current ratio of 1.49.
Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.65). The business had revenue of $145.33 million for the quarter, compared to analysts’ expectations of $146.37 million. Piedmont Office Realty Trust had a negative return on equity of 2.72% and a negative net margin of 8.38%. As a group, sell-side analysts predict that Piedmont Office Realty Trust, Inc. will post 1.51 EPS for the current fiscal year.
Piedmont Office Realty Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.82%. The ex-dividend date of this dividend is Thursday, February 22nd. Piedmont Office Realty Trust’s dividend payout ratio is currently -125.00%.
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.
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