Renaissance Technologies LLC Raises Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Posted by on Mar 5th, 2023

Renaissance Technologies LLC lifted its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) by 88.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,312,900 shares of the real estate investment trust’s stock after purchasing an additional 617,200 shares during the period. Renaissance Technologies LLC owned approximately 1.06% of Piedmont Office Realty Trust worth $13,864,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PDM. Raymond James & Associates increased its position in shares of Piedmont Office Realty Trust by 13.7% during the first quarter. Raymond James & Associates now owns 41,464 shares of the real estate investment trust’s stock worth $714,000 after acquiring an additional 5,007 shares during the period. Cetera Advisor Networks LLC increased its holdings in Piedmont Office Realty Trust by 15.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 18,036 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 2,368 shares during the period. PNC Financial Services Group Inc. increased its holdings in Piedmont Office Realty Trust by 201.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,129 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 9,442 shares during the period. MetLife Investment Management LLC raised its position in Piedmont Office Realty Trust by 56.4% in the 1st quarter. MetLife Investment Management LLC now owns 64,184 shares of the real estate investment trust’s stock valued at $1,105,000 after purchasing an additional 23,137 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Piedmont Office Realty Trust by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 110,448 shares of the real estate investment trust’s stock valued at $1,974,000 after buying an additional 1,550 shares during the period. 82.88% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Price Performance

Shares of NYSE PDM opened at $9.23 on Friday. The stock’s 50-day simple moving average is $9.84 and its 200-day simple moving average is $10.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $1.14 billion, a PE ratio of 7.76 and a beta of 1.01. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $8.72 and a fifty-two week high of $17.66.

Piedmont Office Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, February 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $0.84 annualized dividend and a dividend yield of 9.10%. Piedmont Office Realty Trust’s dividend payout ratio is presently 70.59%.

Analyst Ratings Changes

Several analysts recently weighed in on PDM shares. JPMorgan Chase & Co. reduced their target price on shares of Piedmont Office Realty Trust from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, December 2nd. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 17th.

About Piedmont Office Realty Trust

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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.

See Also

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Institutional Ownership by Quarter for Piedmont Office Realty Trust (NYSE:PDM)

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