Sei Investments Co. Sells 3,256 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Sei Investments Co. lowered its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,070 shares of the real estate investment trust’s stock after selling 3,256 shares during the period. Sei Investments Co.’s holdings in Piedmont Office Realty Trust were worth $1,236,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Piedmont Office Realty Trust by 358.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,991 shares of the real estate investment trust’s stock valued at $9,050,000 after purchasing an additional 700,616 shares during the period. Quantinno Capital Management LP lifted its stake in Piedmont Office Realty Trust by 8.7% in the third quarter. Quantinno Capital Management LP now owns 21,413 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 1,713 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Piedmont Office Realty Trust by 10.1% during the 3rd quarter. Jane Street Group LLC now owns 318,924 shares of the real estate investment trust’s stock worth $3,221,000 after acquiring an additional 29,139 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Piedmont Office Realty Trust by 1.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 166,383 shares of the real estate investment trust’s stock worth $1,680,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Barclays PLC raised its stake in Piedmont Office Realty Trust by 88.7% in the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock valued at $2,398,000 after acquiring an additional 111,596 shares during the period. 84.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. 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. Finally, Baird R W downgraded shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th.

Piedmont Office Realty Trust Price Performance

Shares of Piedmont Office Realty Trust stock opened at $6.68 on Monday. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. Piedmont Office Realty Trust, Inc. has a 52 week low of $6.27 and a 52 week high of $11.12. The business has a 50 day moving average of $7.59 and a 200 day moving average of $8.86. The company has a market cap of $831.29 million, a PE ratio of -10.61 and a beta of 1.21.

Piedmont Office Realty Trust (NYSE:PDM) last released its 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. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The company had revenue of $143.23 million during the quarter, compared to analysts’ expectations of $142.16 million. As a group, equities research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust’s payout ratio is -79.37%.

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.