ExodusPoint Capital Management LP Buys Shares of 15,423 Piedmont Office Realty Trust, Inc. (NYSE:PDM)

ExodusPoint Capital Management LP purchased a new position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,423 shares of the real estate investment trust’s stock, valued at approximately $141,000.

Several other large investors have also recently added to or reduced their stakes in PDM. Wilsey Asset Management Inc. raised its stake in shares of Piedmont Office Realty Trust by 2.0% in the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust’s stock valued at $36,175,000 after acquiring an additional 77,220 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Piedmont Office Realty Trust by 1.5% in the third quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust’s stock valued at $32,499,000 after purchasing an additional 48,944 shares during the period. Prudential Financial Inc. lifted its stake in shares of Piedmont Office Realty Trust by 34.6% in the fourth quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust’s stock worth $24,882,000 after buying an additional 699,339 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Piedmont Office Realty Trust by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust’s stock worth $19,278,000 after buying an additional 546,242 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Piedmont Office Realty Trust by 16.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,780,288 shares of the real estate investment trust’s stock valued at $16,290,000 after buying an additional 245,518 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PDM has been the subject of a number of recent analyst reports. Truist Financial restated a “buy” rating and set a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Finally, Robert W. Baird lowered their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th.

Piedmont Office Realty Trust Trading Up 2.3 %

Shares of PDM opened at $6.29 on Tuesday. The stock’s 50-day moving average price is $7.22 and its 200 day moving average price is $8.66. 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 firm has a market capitalization of $782.53 million, a price-to-earnings ratio of -9.98 and a beta of 1.21. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.81 and a 12-month high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (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 return on equity of 4.82% and a negative net margin of 13.86%. As a group, research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $0.125 per share. The ex-dividend date was Friday, February 21st. This represents a $0.50 annualized dividend and a dividend yield of 7.95%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -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.