Invesco Ltd. Has $7.50 Million Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Invesco Ltd. cut its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 45.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 819,711 shares of the real estate investment trust's stock after selling 684,102 shares during the quarter. Invesco Ltd. owned 0.66% of Piedmont Office Realty Trust worth $7,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Harbour Investments Inc. increased its position in Piedmont Office Realty Trust by 25.4% in the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 1,216 shares during the last quarter. Xponance Inc. acquired a new position in Piedmont Office Realty Trust in the fourth quarter worth approximately $95,000. Arkadios Wealth Advisors bought a new position in Piedmont Office Realty Trust during the fourth quarter valued at about $105,000. Cibc World Markets Corp bought a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth about $106,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 15.8% during the 4th quarter. Meeder Asset Management Inc. now owns 12,125 shares of the real estate investment trust's stock valued at $111,000 after acquiring an additional 1,650 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company's stock.

Analyst Upgrades and Downgrades

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

Piedmont Office Realty Trust Price Performance

NYSE PDM traded up $0.15 on Wednesday, reaching $5.90. The company's stock had a trading volume of 2,215,092 shares, compared to its average volume of 868,018. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $11.12. 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 market cap of $734.01 million, a PE ratio of -9.37 and a beta of 1.21. The business has a 50-day moving average price of $6.92 and a 200 day moving average price of $8.40.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The company had revenue of $136.06 million for the quarter, compared to analyst estimates of $141.29 million. During the same period in the prior year, the company posted $0.39 EPS. The company's revenue was down 1.3% compared to the same quarter last year. Sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $0.125 per share. The ex-dividend date was Friday, February 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.47%. Piedmont Office Realty Trust's payout ratio is presently -79.37%.

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.