Nordea Investment Management AB Buys 24,659 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Posted by Defense World Staff on May 11th, 2023

Nordea Investment Management AB lifted its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 577,356 shares of the real estate investment trust’s stock after buying an additional 24,659 shares during the period. Nordea Investment Management AB owned about 0.47% of Piedmont Office Realty Trust worth $5,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Piedmont Office Realty Trust by 2.8% in the first quarter. Vanguard Group Inc. now owns 19,626,841 shares of the real estate investment trust’s stock worth $337,974,000 after acquiring an additional 534,136 shares during the period. State Street Corp lifted its holdings in shares of Piedmont Office Realty Trust by 11.6% in the 1st quarter. State Street Corp now owns 6,174,792 shares of the real estate investment trust’s stock worth $106,330,000 after acquiring an additional 640,582 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,909,120 shares of the real estate investment trust’s stock worth $50,096,000 after acquiring an additional 150,035 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Piedmont Office Realty Trust by 2.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 2,438,565 shares of the real estate investment trust’s stock worth $25,751,000 after acquiring an additional 55,705 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 29.2% in the 4th quarter. Private Management Group Inc. now owns 2,209,083 shares of the real estate investment trust’s stock worth $20,257,000 after acquiring an additional 499,317 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd.

Piedmont Office Realty Trust Stock Up 0.2 %

Shares of Piedmont Office Realty Trust stock opened at $6.57 on Thursday. The company has a market cap of $812.31 million, a P/E ratio of 9.52 and a beta of 0.98. Piedmont Office Realty Trust, Inc. has a 52-week low of $5.99 and a 52-week high of $15.57. The company has a quick ratio of 3.63, a current ratio of 3.63 and a debt-to-equity ratio of 1.21. The firm’s 50 day moving average price is $7.12 and its 200-day moving average price is $8.92.

Piedmont Office Realty Trust (NYSE:PDM – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.50 by $0.11. Piedmont Office Realty Trust had a net margin of 15.00% and a return on equity of 4.70%. The business had revenue of $147.21 million during the quarter, compared to analysts’ expectations of $151.34 million. On average, sell-side analysts predict that Piedmont Office Realty Trust, Inc. will post 1.84 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 26th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 12.79%. The ex-dividend date of this dividend is Thursday, May 25th. Piedmont Office Realty Trust’s payout ratio is presently 121.74%.

Piedmont Office Realty Trust Company Profile

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Piedmont Office Realty Trust, Inc engages in the ownership, management, development, redevelopment, and operation of office properties. It operates through the following geographical segments: Atlanta, Dallas, Washington, DC/Northern Virginia, Boston, Orlando, Minneapolis, and New York. The company was founded on July 3, 1997 and is headquartered in Atlanta, GA.