Latest Stocks: Russell Investments Group Ltd. Has $3.80 Million Stake in Piedmont Office Realty Trust, Inc. (PDM)

Latest Stocks: Russell Investments Group Ltd. Has $3.80 Million Stake in Piedmont Office Realty Trust, Inc. (PDM)

Russell Investments Group Ltd. increased its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 10.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 177,449 shares of the real estate investment trust’s stock after buying an additional 17,150 shares during the period. Russell Investments Group Ltd.’s holdings in Piedmont Office Realty Trust were worth $3,795,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. James Investment Research Inc. bought a new position in shares of Piedmont Office Realty Trust during the first quarter worth approximately $141,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Piedmont Office Realty Trust by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,109 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 211 shares in the last quarter. Cadence Capital Management LLC bought a new position in shares of Piedmont Office Realty Trust during the fourth quarter worth approximately $258,000. National Planning Corp boosted its position in shares of Piedmont Office Realty Trust by 6.7% in the fourth quarter. National Planning Corp now owns 15,910 shares of the real estate investment trust’s stock worth $342,000 after buying an additional 1,004 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Piedmont Office Realty Trust by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 17,284 shares of the real estate investment trust’s stock worth $361,000 after buying an additional 1,073 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Shares of Piedmont Office Realty Trust, Inc. (PDM) opened at 21.43 on Tuesday. Piedmont Office Realty Trust, Inc. has a 12-month low of $18.61 and a 12-month high of $23.08. The company has a market capitalization of $3.12 billion, a PE ratio of 29.81 and a beta of 0.56. The firm’s 50-day moving average price is $21.69 and its 200-day moving average price is $21.34.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.44 by $0.34. Piedmont Office Realty Trust had a net margin of 19.41% and a return on equity of 4.95%. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $145.35 million. During the same period in the previous year, the company posted $0.41 earnings per share. Piedmont Office Realty Trust’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts expect that Piedmont Office Realty Trust, Inc. will post $0.24 EPS for the current fiscal year.

Separately, Zacks Investment Research cut Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, May 5th. In other news, CAO Laura P. Moon sold 7,800 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $21.64, for a total transaction of $168,792.00. Following the sale, the chief accounting officer now directly owns 24,620 shares of the company’s stock, valued at approximately $532,776.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

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