Cbre Investment Management Listed Real Assets LLC Reduces Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Cbre Investment Management Listed Real Assets LLC reduced its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 21.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 826,063 shares of the real estate investment trust’s stock after selling 229,297 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Piedmont Office Realty Trust were worth $7,558,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Metis Global Partners LLC grew its holdings in Piedmont Office Realty Trust by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 1,453 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at $168,000. Bank of New York Mellon Corp lifted its stake in shares of Piedmont Office Realty Trust by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 596,590 shares of the real estate investment trust’s stock valued at $5,459,000 after purchasing an additional 65,714 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Piedmont Office Realty Trust in the 4th quarter valued at $506,000. Finally, Hudson Edge Investment Partners Inc. lifted its stake in shares of Piedmont Office Realty Trust by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 1,180 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Trading Down 2.2 %

NYSE:PDM opened at $7.24 on Wednesday. The stock’s 50 day moving average price is $8.31 and its 200 day moving average price is $9.24. The company has a market capitalization of $899.25 million, a PE ratio of -11.48 and a beta of 1.19. 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 $6.02 and a 52-week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $143.23 million for the quarter, compared to the consensus estimate of $142.16 million. On average, research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.50 annualized dividend and a dividend yield of 6.91%. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.

Analysts Set New Price Targets

PDM has been the topic of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $10.00 price target (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird decreased their target price on 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. Finally, StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th.

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.