Ameriprise Financial Inc. Grows Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Ameriprise Financial Inc. grew its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 818,947 shares of the real estate investment trust's stock after purchasing an additional 47,110 shares during the period. Ameriprise Financial Inc. owned approximately 0.66% of Piedmont Office Realty Trust worth $7,497,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PDM. Sterling Capital Management LLC grew its holdings in shares of Piedmont Office Realty Trust by 809.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 3,520 shares during the period. Harbour Investments Inc. grew its holdings in shares of Piedmont Office Realty Trust by 25.4% in the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 1,216 shares during the period. Xponance Inc. acquired a new stake in shares of Piedmont Office Realty Trust in the 4th quarter worth approximately $95,000. Coldstream Capital Management Inc. acquired a new stake in shares of Piedmont Office Realty Trust in the 4th quarter worth approximately $99,000. Finally, Arkadios Wealth Advisors acquired a new stake in Piedmont Office Realty Trust during the 4th quarter valued at $105,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Piedmont Office Realty Trust Trading Up 3.7%

Shares of PDM traded up $0.24 during trading hours on Tuesday, hitting $6.76. The stock had a trading volume of 880,134 shares, compared to its average volume of 905,253. 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 firm has a market cap of $841.00 million, a P/E ratio of -10.73 and a beta of 1.37. The company's fifty day simple moving average is $6.71 and its 200 day simple moving average is $7.90. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.46 and a 12-month high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share 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 analyst estimates 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%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Equities research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling at Piedmont Office Realty Trust

In related news, CFO Sherry L. Rexroad acquired 16,850 shares of the business's stock in a transaction on Thursday, May 1st. The shares were bought at an average cost of $5.95 per share, with a total value of $100,257.50. Following the completion of the transaction, the chief financial officer now directly owns 16,850 shares of the company's stock, valued at $100,257.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on PDM. 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. Wall Street Zen raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Truist Financial cut their target price on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th.

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.