Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Rating) reached a new 52-week low during trading on Wednesday . The company traded as low as $12.37 and last traded at $12.39, with a volume of 6255 shares trading hands. The stock had previously closed at $12.50.

Analyst Ratings Changes

A number of analysts recently weighed in on PDM shares. Truist Financial decreased their target price on shares of Piedmont Office Realty Trust from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. StockNews.com cut shares of Piedmont Office Realty Trust from a "buy" rating to a "hold" rating in a report on Thursday, May 26th.

Piedmont Office Realty Trust Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $1.52 billion, a P/E ratio of 32.45 and a beta of 0.95. The stock has a 50-day moving average price of $13.14 and a 200-day moving average price of $15.01.

Piedmont Office Realty Trust Announces Dividend

Insiders Place Their Bets

In related news, Director Glenn Gary Cohen acquired 3,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were purchased at an average price of $13.01 per share, for a total transaction of $39,030.00. Following the transaction, the director now owns 30,419 shares in the company, valued at approximately $395,751.19. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.13% of the company's stock.

Hedge Funds Weigh In On Piedmont Office Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Riverview Trust Co bought a new stake in Piedmont Office Realty Trust in the 1st quarter worth approximately $25,000. Rise Advisors LLC purchased a new position in shares of Piedmont Office Realty Trust during the fourth quarter worth approximately $29,000. Prospera Financial Services Inc bought a new stake in shares of Piedmont Office Realty Trust in the 1st quarter worth approximately $29,000. WFA of San Diego LLC purchased a new stake in shares of Piedmont Office Realty Trust in the 2nd quarter valued at $37,000. Finally, Allegheny Financial Group LTD purchased a new stake in shares of Piedmont Office Realty Trust in the 4th quarter valued at $84,000. 82.61% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Company Profile

(Get Rating)

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

Further Reading

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