Inspire Investing LLC Has $405,000 Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Inspire Investing LLC grew its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,280 shares of the real estate investment trust’s stock after purchasing an additional 3,385 shares during the quarter. Inspire Investing LLC’s holdings in Piedmont Office Realty Trust were worth $405,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Piedmont Office Realty Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,241 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Piedmont Office Realty Trust by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 46,090 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,311 shares in the last quarter. abrdn plc grew its stake in Piedmont Office Realty Trust by 5.9% during the third quarter. abrdn plc now owns 24,341 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 1,366 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Piedmont Office Realty Trust by 51.3% during the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,666 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Piedmont Office Realty Trust by 15.1% in the third quarter. CWM LLC now owns 12,772 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 1,678 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Baird R W lowered Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. StockNews.com lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, January 20th. Finally, Robert W. Baird downgraded shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research report on Thursday, January 16th.

Piedmont Office Realty Trust Stock Performance

PDM stock opened at $8.64 on Friday. The stock has a market capitalization of $1.07 billion, a PE ratio of -13.94 and a beta of 1.19. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. The company has a 50 day moving average price of $9.06 and a 200 day moving average price of $9.33. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). The firm had revenue of $139.29 million for the quarter, compared to the consensus estimate of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same quarter in the previous year, the firm earned $0.43 EPS. Analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 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.