Piedmont Office Realty Trust, Inc. (NYSE:PDM) CFO Acquires $100,257.50 in Stock

Piedmont Office Realty Trust, Inc. (NYSE:PDM) CFO Sherry L. Rexroad bought 16,850 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was purchased at an average price 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 approximately $100,257.50. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Piedmont Office Realty Trust Stock Performance

Shares of PDM stock opened at $6.30 on Friday. The stock has a market capitalization of $783.77 million, a PE ratio of -10.00 and a beta of 1.21. The business’s 50 day simple moving average is $6.91 and its 200 day simple moving average is $8.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. Piedmont Office Realty Trust, Inc. has a one year low of $5.46 and a one year high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $136.06 million for the quarter, compared to analyst estimates of $141.29 million. During the same period in the prior year, the firm posted $0.39 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 7.94%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -102.04%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PDM. 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. Robert W. Baird dropped their price target 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 reissued a “buy” rating and issued a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Finally, StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th.

Institutional Investors Weigh In On Piedmont Office Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in Piedmont Office Realty Trust by 88.7% in the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock worth $2,398,000 after purchasing an additional 111,596 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at $663,000. JPMorgan Chase & Co. lifted its position in shares of Piedmont Office Realty Trust by 45.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust’s stock valued at $15,501,000 after acquiring an additional 478,560 shares during the period. Franklin Resources Inc. boosted its stake in Piedmont Office Realty Trust by 72.5% during the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust’s stock worth $1,519,000 after acquiring an additional 62,233 shares in the last quarter. Finally, Choreo LLC grew its holdings in Piedmont Office Realty Trust by 4.0% in the fourth quarter. Choreo LLC now owns 54,024 shares of the real estate investment trust’s stock worth $484,000 after purchasing an additional 2,078 shares during the period. Institutional investors own 84.48% 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.