Piedmont Office Realty Trust (NYSE:PDM) Sets New 1-Year High at $9.12

Piedmont Office Realty Trust, Inc. (NYSE:PDM)’s stock price reached a new 52-week high on Monday . The company traded as high as $9.12 and last traded at $9.12, with a volume of 102245 shares traded. The stock had previously closed at $8.96.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PDM. Truist Financial restated a “buy” rating and issued a $11.00 target price (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

Piedmont Office Realty Trust Stock Up 2.1 %

The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 1.34. The company has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $7.12. The stock has a market cap of $1.13 billion, a P/E ratio of -15.05 and a beta of 1.21.

Piedmont Office Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 23rd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.50 annualized dividend and a yield of 5.46%. Piedmont Office Realty Trust’s payout ratio is -81.97%.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Piedmont Office Realty Trust by 38.3% in the second quarter. Blue Trust Inc. now owns 4,654 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,288 shares during the period. Sigma Planning Corp purchased a new stake in Piedmont Office Realty Trust in the fourth quarter worth $71,000. Adero Partners LLC purchased a new stake in Piedmont Office Realty Trust in the fourth quarter worth $72,000. First Trust Direct Indexing L.P. purchased a new stake in Piedmont Office Realty Trust in the first quarter worth $73,000. Finally, Meeder Asset Management Inc. purchased a new stake in Piedmont Office Realty Trust in the second quarter worth $76,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

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.