SG Americas Securities LLC Purchases 222,789 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

SG Americas Securities LLC increased its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 55.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,950 shares of the real estate investment trust's stock after acquiring an additional 222,789 shares during the quarter. SG Americas Securities LLC owned approximately 0.50% of Piedmont Office Realty Trust worth $4,621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sonora Investment Management Group LLC bought a new stake in shares of Piedmont Office Realty Trust in the 1st quarter worth approximately $295,000. Summit Global Investments lifted its holdings in shares of Piedmont Office Realty Trust by 66.3% in the 1st quarter. Summit Global Investments now owns 96,397 shares of the real estate investment trust's stock worth $710,000 after purchasing an additional 38,443 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Piedmont Office Realty Trust by 540.9% in the 1st quarter. GAMMA Investing LLC now owns 23,636 shares of the real estate investment trust's stock worth $174,000 after purchasing an additional 19,948 shares during the last quarter. Wellington Management Group LLP boosted its stake in Piedmont Office Realty Trust by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust's stock valued at $19,278,000 after purchasing an additional 546,242 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Piedmont Office Realty Trust by 4.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 36,489 shares of the real estate investment trust's stock valued at $334,000 after purchasing an additional 1,479 shares during the period. Institutional investors and hedge funds own 84.48% of the company's stock.

Insider Activity at Piedmont Office Realty Trust

In related news, CFO Sherry L. Rexroad acquired 16,850 shares of the company's stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $5.95 per share, for a total transaction of $100,257.50. Following the purchase, the chief financial officer now owns 16,850 shares in the company, valued at $100,257.50. This represents 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 this link. Company insiders own 1.29% of the company's stock.

Wall Street Analysts Forecast Growth

PDM has been the subject of a number of analyst reports. 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. Robert W. Baird reduced 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. JPMorgan Chase & Co. reduced their target price on shares of Piedmont Office Realty Trust from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Truist Financial reduced their target price on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.67.

Piedmont Office Realty Trust Price Performance

Shares of NYSE:PDM traded down $0.28 during trading on Friday, reaching $7.51. The company had a trading volume of 905,877 shares, compared to its average volume of 913,392. The firm's fifty day moving average is $6.80 and its 200 day moving average is $7.70. 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 twelve month low of $5.46 and a twelve month 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.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last released its earnings results on Monday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The business had revenue of $136.06 million during the quarter, compared to analyst estimates of $141.29 million. During the same period in the prior year, the business earned $0.39 earnings per share. The business's quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

About Piedmont Office Realty Trust

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.