Northern Trust Corp Boosts Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Northern Trust Corp raised its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,715,675 shares of the real estate investment trust's stock after buying an additional 218,365 shares during the period. Northern Trust Corp owned about 1.38% of Piedmont Office Realty Trust worth $15,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Piedmont Office Realty Trust by 88.7% in the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock valued at $2,398,000 after purchasing an additional 111,596 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $663,000. Raymond James Financial Inc. purchased a new stake in shares of Piedmont Office Realty Trust in the fourth quarter valued at approximately $1,313,000. Franklin Resources Inc. increased its position in shares of Piedmont Office Realty Trust by 72.5% in the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust's stock valued at $1,519,000 after buying an additional 62,233 shares in the last quarter. Finally, Choreo LLC increased its holdings in Piedmont Office Realty Trust by 4.0% in the 4th quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust's stock worth $484,000 after acquiring an additional 2,078 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company's stock.

Piedmont Office Realty Trust Price Performance

PDM stock opened at $6.77 on Thursday. 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 business has a 50 day simple moving average of $6.80 and a 200-day simple moving average of $8.12. The firm has a market capitalization of $842.24 million, a PE ratio of -10.75 and a beta of 1.37. Piedmont Office Realty Trust, Inc. has a 1 year low of $5.46 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $141.29 million. During the same period in the prior year, the business earned $0.39 EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on PDM shares. 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. Robert W. Baird dropped their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. Truist Financial reaffirmed a "buy" rating and set a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Finally, Baird R W lowered shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th.

Insider Activity

In other Piedmont Office Realty Trust news, CFO Sherry L. Rexroad purchased 16,850 shares of the stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $5.95 per share, for a total transaction of $100,257.50. Following the acquisition, the chief financial officer now owns 16,850 shares in the company, valued at $100,257.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.

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