Ameriprise Financial Inc. Purchases 47,110 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Ameriprise Financial Inc. increased its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 818,947 shares of the real estate investment trust’s stock after buying an additional 47,110 shares during the quarter. Ameriprise Financial Inc. owned 0.66% of Piedmont Office Realty Trust worth $7,497,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PDM. Mercer Global Advisors Inc. ADV bought a new stake in shares of Piedmont Office Realty Trust in the fourth quarter worth about $228,000. Northern Trust Corp increased its stake in Piedmont Office Realty Trust by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,715,675 shares of the real estate investment trust’s stock worth $15,698,000 after purchasing an additional 218,365 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Piedmont Office Realty Trust during the 4th quarter worth approximately $99,000. Price T Rowe Associates Inc. MD raised its holdings in Piedmont Office Realty Trust by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 114,939 shares of the real estate investment trust’s stock worth $1,052,000 after buying an additional 14,141 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Piedmont Office Realty Trust by 7.5% in the fourth quarter. Hsbc Holdings PLC now owns 105,472 shares of the real estate investment trust’s stock valued at $964,000 after buying an additional 7,333 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Trading Down 3.5%

NYSE PDM opened at $6.56 on Thursday. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $11.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. The stock’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $8.01. The stock has a market capitalization of $815.49 million, a price-to-earnings ratio of -10.40 and a beta of 1.37.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company 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 net margin of 13.86% and a negative return on equity of 4.82%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. As a group, analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, February 24th. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Truist Financial lowered their target price on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday.

Insider Buying and Selling at Piedmont Office Realty Trust

In other Piedmont Office Realty Trust news, CFO Sherry L. Rexroad acquired 16,850 shares of Piedmont Office Realty Trust stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $5.95 per share, for a total transaction of $100,257.50. Following the purchase, the chief financial officer now directly owns 16,850 shares in the company, valued at approximately $100,257.50. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.29% of the company’s stock.

Piedmont Office Realty Trust Company 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.