Piedmont Office Realty Trust, Inc. (NYSE:PDM) Holdings Cut by Sowa Financial Group Inc.

Sowa Financial Group Inc. trimmed its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 59.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,608 shares of the real estate investment trust’s stock after selling 88,190 shares during the period. Piedmont Office Realty Trust accounts for approximately 0.3% of Sowa Financial Group Inc.’s investment portfolio, making the stock its 25th biggest holding. Sowa Financial Group Inc.’s holdings in Piedmont Office Realty Trust were worth $555,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PDM. Marshall Wace LLP lifted its holdings in Piedmont Office Realty Trust by 7,041.3% in the 2nd quarter. Marshall Wace LLP now owns 914,092 shares of the real estate investment trust’s stock worth $6,627,000 after purchasing an additional 901,292 shares during the last quarter. Brookfield Corp ON acquired a new position in Piedmont Office Realty Trust during the 3rd quarter worth $7,123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Piedmont Office Realty Trust by 358.6% during the third 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 acquiring an additional 700,616 shares during the period. JPMorgan Chase & Co. grew its position in shares of Piedmont Office Realty Trust by 45.3% in the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock valued at $15,501,000 after purchasing an additional 478,560 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Piedmont Office Realty Trust by 47.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,069,508 shares of the real estate investment trust’s stock worth $10,802,000 after purchasing an additional 344,694 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Trading Up 0.3 %

Piedmont Office Realty Trust stock opened at $8.81 on Tuesday. The business has a 50 day moving average price of $9.13 and a two-hundred day moving average price of $9.31. 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 12 month low of $5.93 and a 12 month high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. The firm had revenue of $139.29 million during the quarter, compared to analyst estimates of $143.56 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 22nd were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend was Friday, November 22nd. Piedmont Office Realty Trust’s payout ratio is -80.64%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Monday. Robert W. Baird downgraded shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday, January 16th. Finally, Baird R W cut shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 16th.

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.