Sowa Financial Group Inc. Has $351,000 Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Sowa Financial Group Inc. trimmed its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,688 shares of the real estate investment trust’s stock after selling 12,920 shares during the period. Piedmont Office Realty Trust comprises approximately 0.2% of Sowa Financial Group Inc.’s investment portfolio, making the stock its 28th biggest position. Sowa Financial Group Inc.’s holdings in Piedmont Office Realty Trust were worth $351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hudson Edge Investment Partners Inc. raised its holdings in shares of Piedmont Office Realty Trust by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 1,180 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Piedmont Office Realty Trust by 25.4% in the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 1,216 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Piedmont Office Realty Trust by 6.5% in the 4th quarter. Quantinno Capital Management LP now owns 22,803 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 1,390 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Piedmont Office Realty Trust by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust’s stock worth $130,000 after acquiring an additional 1,453 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Piedmont Office Realty Trust by 4.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 36,489 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 1,479 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on PDM. Robert W. Baird decreased 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 decreased their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th.

Insiders Place Their Bets

In related news, CFO Sherry L. Rexroad bought 16,850 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $5.95 per share, with a total value of $100,257.50. Following the completion of the purchase, the chief financial officer now owns 16,850 shares of the company’s stock, valued at approximately $100,257.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.29% of the company’s stock.

Piedmont Office Realty Trust Stock Performance

Piedmont Office Realty Trust stock opened at $7.80 on Friday. The firm’s fifty day moving average price is $6.77 and its 200-day moving average price is $7.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. The stock has a market cap of $970.38 million, a P/E ratio of -12.38 and a beta of 1.44. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share (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 firm had revenue of $136.06 million for the quarter, compared to analysts’ expectations of $141.29 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal 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.