Piedmont Office Realty Trust (NYSE:PDM) Reaches New 1-Year Low – Here’s What Happened

Piedmont Office Realty Trust, Inc. (NYSE:PDM)’s stock price reached a new 52-week low on Monday . The company traded as low as $6.19 and last traded at $6.31, with a volume of 65826 shares. The stock had previously closed at $6.68.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Baird R W downgraded Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Truist Financial reaffirmed a “buy” rating and issued a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. StockNews.com raised 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 target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, February 24th.

Piedmont Office Realty Trust Stock Down 2.3 %

The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The firm has a 50 day simple moving average of $7.59 and a two-hundred day simple moving average of $8.86. The company has a market capitalization of $812.26 million, a PE ratio of -10.42 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, hitting the consensus estimate of $0.37. The company had revenue of $143.23 million during the quarter, compared to analysts’ expectations of $142.16 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. Research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.50 annualized dividend and a dividend yield of 7.66%. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Hudson Edge Investment Partners Inc. boosted its stake in shares of Piedmont Office Realty Trust by 4.8% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 1,180 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,216 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Piedmont Office Realty Trust by 6.5% during the 4th quarter. Quantinno Capital Management LP now owns 22,803 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 1,390 shares in the last quarter. Metis Global Partners LLC lifted its stake 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. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Piedmont Office Realty Trust by 4.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 36,489 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,479 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

About Piedmont Office Realty Trust

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.