Wealth Enhancement Advisory Services LLC Increases Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 4.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,489 shares of the real estate investment trust’s stock after purchasing an additional 1,479 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Piedmont Office Realty Trust were worth $334,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in Piedmont Office Realty Trust by 23.1% during the 4th quarter. Van ECK Associates Corp now owns 30,299 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 5,687 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Piedmont Office Realty Trust by 3.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 195,038 shares of the real estate investment trust’s stock valued at $1,718,000 after acquiring an additional 6,149 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Piedmont Office Realty Trust by 0.9% during the 4th quarter. Rhumbline Advisers now owns 227,700 shares of the real estate investment trust’s stock valued at $2,083,000 after purchasing an additional 1,954 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its position in shares of Piedmont Office Realty Trust by 4.8% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 1,180 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Piedmont Office Realty Trust during the fourth quarter worth approximately $506,000. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Down 3.6%

Shares of NYSE:PDM opened at $7.51 on Friday. The firm has a market capitalization of $934.30 million, a PE ratio of -11.92 and a beta of 1.44. Piedmont Office Realty Trust, Inc. has a 1 year low of $5.46 and a 1 year high of $11.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The firm’s 50-day moving average is $6.80 and its two-hundred day moving average is $7.70.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results 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. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The company had revenue of $136.06 million for the quarter, compared to analyst estimates of $141.29 million. During the same quarter last year, the company earned $0.39 EPS. Piedmont Office Realty Trust’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Insider Buying and Selling

In related news, CFO Sherry L. Rexroad bought 16,850 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average cost of $5.95 per share, with a total value of $100,257.50. Following the transaction, the chief financial officer now directly owns 16,850 shares of the company’s stock, 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 the SEC website. Insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of 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. JPMorgan Chase & Co. lowered their price objective on Piedmont Office Realty Trust from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday. 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. Finally, Truist Financial cut their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.67.

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.