Raymond James Financial Inc. Makes New $1.31 Million Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Raymond James Financial Inc. purchased a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 143,503 shares of the real estate investment trust's stock, valued at approximately $1,313,000. Raymond James Financial Inc. owned about 0.12% of Piedmont Office Realty Trust at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PDM. Harbour Investments Inc. raised its position in shares of Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 1,216 shares during the period. Xponance Inc. bought a new stake in Piedmont Office Realty Trust during the fourth quarter worth about $95,000. Arkadios Wealth Advisors purchased a new stake in Piedmont Office Realty Trust in the fourth quarter worth approximately $105,000. Cibc World Markets Corp bought a new position in shares of Piedmont Office Realty Trust during the 4th quarter valued at $106,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Piedmont Office Realty Trust by 15.8% in the 4th quarter. Meeder Asset Management Inc. now owns 12,125 shares of the real estate investment trust's stock valued at $111,000 after acquiring an additional 1,650 shares during the last quarter. 84.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com raised 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 price objective 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. Truist Financial reaffirmed a "buy" rating and set a $10.00 price target (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Finally, Baird R W downgraded Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th.

Insider Buying and Selling at Piedmont Office Realty Trust

In other 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 completion of the transaction, the chief financial officer now directly owns 16,850 shares in the company, valued at approximately $100,257.50. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is owned by corporate insiders.

Piedmont Office Realty Trust Trading Up 3.2 %

NYSE:PDM traded up $0.21 during mid-day trading on Wednesday, hitting $6.72. 1,318,128 shares of the stock traded hands, compared to its average volume of 880,286. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The firm's 50 day moving average is $6.87 and its two-hundred day moving average is $8.27. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $11.12. The stock has a market capitalization of $835.52 million, a price-to-earnings ratio of -10.66 and a beta of 1.37.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly 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 return on equity of 4.82% and a negative net margin of 13.86%. The firm had revenue of $136.06 million for the quarter, compared to analyst estimates of $141.29 million. During the same quarter last year, the firm posted $0.39 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities research analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share 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.