Healthcare of Ontario Pension Plan Trust Fund Grows Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Posted by Defense World Staff on Mar 1st, 2023

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) by 71.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 56,316 shares of the real estate investment trust’s stock after acquiring an additional 23,505 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Piedmont Office Realty Trust were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 1.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 81,856 shares of the real estate investment trust’s stock valued at $864,000 after acquiring an additional 1,497 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Piedmont Office Realty Trust by 10.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 128,885 shares of the real estate investment trust’s stock valued at $1,361,000 after acquiring an additional 12,100 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Piedmont Office Realty Trust in the 3rd quarter valued at about $35,000. Tower Research Capital LLC TRC increased its holdings in shares of Piedmont Office Realty Trust by 40.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,199 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 2,950 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Piedmont Office Realty Trust by 276.9% in the 3rd quarter. UBS Group AG now owns 73,667 shares of the real estate investment trust’s stock valued at $778,000 after acquiring an additional 54,119 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PDM shares. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, February 17th. JPMorgan Chase & Co. dropped their price target on Piedmont Office Realty Trust from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, December 2nd.

Piedmont Office Realty Trust Trading Down 1.1 %

NYSE:PDM opened at $9.15 on Wednesday. The stock’s 50 day moving average price is $9.83 and its 200 day moving average price is $10.42. Piedmont Office Realty Trust, Inc. has a 52-week low of $8.72 and a 52-week high of $17.66. The company has a market capitalization of $1.13 billion, a PE ratio of 7.69 and a beta of 1.00. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.07.

Piedmont Office Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, February 24th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $0.84 annualized dividend and a dividend yield of 9.18%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 70.59%.

Piedmont Office Realty Trust Profile

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Piedmont Office Realty Trust, Inc engages in the owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. . Its activities include acquisition, investment, development, management, disposing, and ownership of commercial real estate properties throughout the United States.