Deutsche Bank AG Purchases 46,399 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Deutsche Bank AG grew its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 23.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,358 shares of the real estate investment trust’s stock after acquiring an additional 46,399 shares during the quarter. Deutsche Bank AG owned about 0.20% of Piedmont Office Realty Trust worth $2,218,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wilsey Asset Management Inc. grew its holdings in Piedmont Office Realty Trust by 2.0% during the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust’s stock valued at $36,175,000 after purchasing an additional 77,220 shares during the last quarter. Vision Capital Corp grew its stake in shares of Piedmont Office Realty Trust by 65.0% during the fourth quarter. Vision Capital Corp now owns 3,526,777 shares of the real estate investment trust’s stock valued at $32,270,000 after buying an additional 1,389,477 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Piedmont Office Realty Trust by 34.6% during the fourth quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust’s stock valued at $24,882,000 after buying an additional 699,339 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Piedmont Office Realty Trust by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust’s stock worth $19,278,000 after buying an additional 546,242 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Piedmont Office Realty Trust by 16.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,780,288 shares of the real estate investment trust’s stock worth $16,290,000 after buying an additional 245,518 shares during the period. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Performance

Piedmont Office Realty Trust stock opened at $6.45 on Friday. 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 company has a market capitalization of $801.81 million, a PE ratio of -10.23 and a beta of 1.37. The company has a 50 day moving average price of $6.75 and a 200-day moving average price of $7.99. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data 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 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 return on equity of 4.82% and a negative net margin of 13.86%. Piedmont Office Realty Trust’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

PDM has been the subject of a number of recent analyst reports. Truist Financial dropped their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird lowered their target price on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Finally, Wall Street Zen raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th.

Insider Activity

In other Piedmont Office Realty Trust news, CFO Sherry L. Rexroad acquired 16,850 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $5.95 per share, with a total value of $100,257.50. Following the completion of the purchase, the chief financial officer now directly owns 16,850 shares in the company, valued at $100,257.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.