Mercer Global Advisors Inc. ADV Purchases New Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Mercer Global Advisors Inc. ADV purchased a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,897 shares of the real estate investment trust’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in Piedmont Office Realty Trust by 809.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 3,520 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Piedmont Office Realty Trust by 25.4% during the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,216 shares in the last quarter. Xponance Inc. acquired a new stake in Piedmont Office Realty Trust during the fourth quarter valued at approximately $95,000. Coldstream Capital Management Inc. acquired a new stake in Piedmont Office Realty Trust during the fourth quarter valued at approximately $99,000. Finally, Arkadios Wealth Advisors acquired a new stake in Piedmont Office Realty Trust during the fourth quarter valued at approximately $105,000. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Stock Up 2.0%

Shares of PDM opened at $7.04 on Friday. The company has a market capitalization of $875.83 million, a P/E ratio of -11.17 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. Piedmont Office Realty Trust, Inc. has a one year low of $5.46 and a one year high of $11.12. The business’s 50 day simple moving average is $6.79 and its 200-day simple moving average is $8.08.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $136.06 million for the quarter, compared to the consensus estimate of $141.29 million. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. Piedmont Office Realty Trust’s revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Insider Transactions at Piedmont Office Realty Trust

In other Piedmont Office Realty Trust news, CFO Sherry L. Rexroad bought 16,850 shares of Piedmont Office Realty Trust stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $5.95 per share, with a total value of $100,257.50. Following the acquisition, the chief financial officer now directly owns 16,850 shares of the company’s stock, valued at $100,257.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PDM shares. Truist Financial reaffirmed a “buy” rating and set a $10.00 price objective (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Finally, Robert W. Baird decreased their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a 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.