Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,748,563 shares of the real estate investment trust’s stock after selling 24,106 shares during the period. Glenmede Trust Co. NA’s holdings in Piedmont Office Realty Trust were worth $17,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PDM. Vanguard Group Inc. raised its holdings in shares of Piedmont Office Realty Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,219,805 shares of the real estate investment trust’s stock worth $135,115,000 after buying an additional 394,282 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of Piedmont Office Realty Trust by 24.7% in the 1st quarter. Quadrature Capital Ltd now owns 32,640 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 6,467 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Piedmont Office Realty Trust by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,242 shares of the real estate investment trust’s stock worth $705,000 after acquiring an additional 5,386 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Piedmont Office Realty Trust during the 1st quarter worth about $81,000. Finally, Tidal Investments LLC grew its stake in Piedmont Office Realty Trust by 72.1% during the 1st quarter. Tidal Investments LLC now owns 36,749 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 15,398 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Price Performance

Shares of PDM opened at $9.68 on Friday. The business’s 50-day moving average is $10.03 and its two-hundred day moving average is $8.81. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.81 and a fifty-two week high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. The company had revenue of $139.29 million for the quarter, compared to analyst estimates of $143.56 million. During the same period last year, the business earned $0.43 earnings per share. On average, sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 22nd will be paid a $0.125 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.50 annualized dividend and a dividend yield of 5.17%. Piedmont Office Realty Trust’s dividend payout ratio is presently -80.64%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PDM. Truist Financial reaffirmed a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of Piedmont Office Realty Trust in a report on Wednesday, August 14th. Robert W. Baird lifted their price objective on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

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.