Northern Trust Corp Has $15.70 Million Stock Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Northern Trust Corp boosted its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,715,675 shares of the real estate investment trust's stock after buying an additional 218,365 shares during the quarter. Northern Trust Corp owned 1.38% of Piedmont Office Realty Trust worth $15,698,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

PDM has been the subject of a number of research analyst reports. Truist Financial reiterated a "buy" rating and set a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. StockNews.com raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Robert W. Baird cut their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th.

Insider Activity

In related news, CFO Sherry L. Rexroad purchased 16,850 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $5.95 per share, with a total value of $100,257.50. Following the completion of the acquisition, the chief financial officer now directly owns 16,850 shares in the company, valued at approximately $100,257.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is currently owned by company insiders.

Piedmont Office Realty Trust Stock Down 1.5%

Shares of NYSE:PDM traded down $0.10 during trading on Tuesday, hitting $6.78. The company's stock had a trading volume of 30,599 shares, compared to its average volume of 891,343. 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 $843.49 million, a PE ratio of -10.79 and a beta of 1.37. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $11.12. The stock's 50-day moving average price is $6.79 and its two-hundred day moving average price is $8.03.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $136.06 million during 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%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

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.