Piedmont Office Realty Trust (NYSE:PDM) Hits New 12-Month Low - What's Next?

Piedmont Office Realty Trust, Inc. (NYSE:PDM - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $5.73 and last traded at $5.70, with a volume of 625558 shares traded. The stock had previously closed at $6.80.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial restated a "buy" rating and issued a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Baird R W downgraded shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird reduced their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th.

Piedmont Office Realty Trust Price Performance

The firm has a market cap of $826.07 million, a P/E ratio of -10.54 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The company's 50-day moving average is $6.90 and its two-hundred day moving average is $8.33.

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

Piedmont Office Realty Trust Announces Dividend

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 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 7.53%. Piedmont Office Realty Trust's dividend payout ratio (DPR) is currently -102.04%.

Insider Activity at Piedmont Office Realty Trust

In related news, CFO Sherry L. Rexroad bought 16,850 shares of the business's stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $5.95 per share, for a total transaction of $100,257.50. Following the completion of the transaction, the chief financial officer now directly owns 16,850 shares of the company's stock, valued at approximately $100,257.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC grew its position in Piedmont Office Realty Trust by 809.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 3,520 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Piedmont Office Realty Trust by 25.4% during the fourth 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. Point72 Hong Kong Ltd acquired a new position in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $59,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Piedmont Office Realty Trust in the 4th quarter valued at approximately $76,000. Finally, Xponance Inc. acquired a new stake in Piedmont Office Realty Trust during the 4th quarter worth approximately $95,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

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.