Nomura Asset Management Co. Ltd. Purchases 6,400 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Nomura Asset Management Co. Ltd. lifted its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 172,783 shares of the real estate investment trust’s stock after purchasing an additional 6,400 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Piedmont Office Realty Trust were worth $1,581,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Piedmont Office Realty Trust during the fourth quarter worth $5,106,000. JPMorgan Chase & Co. raised its holdings in shares of Piedmont Office Realty Trust by 16.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,780,288 shares of the real estate investment trust’s stock worth $16,290,000 after acquiring an additional 245,518 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Piedmont Office Realty Trust by 12.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 87,721 shares of the real estate investment trust’s stock valued at $791,000 after acquiring an additional 10,012 shares in the last quarter. Prudential Financial Inc. boosted its stake in Piedmont Office Realty Trust by 34.6% during the 4th quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust’s stock valued at $24,882,000 after purchasing an additional 699,339 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Piedmont Office Realty Trust during the 4th quarter worth approximately $345,000. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Stock Performance

Shares of PDM opened at $7.56 on Thursday. The stock has a 50 day moving average of $7.67 and a 200 day moving average of $8.91. The company has a market capitalization of $940.52 million, a price-to-earnings ratio of -12.00 and a beta of 1.25. Piedmont Office Realty Trust, Inc. has a 12 month low of $6.27 and a 12 month 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.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. As a group, sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.

Analyst Upgrades and Downgrades

PDM has been the topic of a number of recent research reports. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a 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 report on Thursday, January 16th. Truist Financial reiterated 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. Finally, Robert W. Baird dropped their price target on shares of 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 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.