The Vanguard Group, Inc. recently announced the acquisition of new stake in Piedmont Office Realty Trust Inc. (NYSE:PDM). The institutional investor has increased its shareholding in the Real Estate company by 1.35% to 19.45 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 15.76% valued currently at $177.93 million. In addition, BlackRock Fund Advisors raised its holdings by 0.34 million to 9.6 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.83% or 50531.0 shares – to 6.14 million shares.
With over 2.93 million Piedmont Office Realty Trust Inc. (PDM) shares trading Tuesday and a closing price of $7.75 on the day, the dollar volume was approximately $22.71 million. The shares have shown a negative half year performance of -38.93% and its price on 03/14/23 lost nearly -4.67%. Currently, there are 123.42M common shares owned by the public and among those 122.26M shares have been available to trade.
Do You Know The Best Place To Find Gains In Volatile Markets?
In today's chaotic marketplace, the biggest gains will come from some currently-small companies that pass by older, larger businesses still stuck in a pre-pandemic world. The trick is figuring out which small caps will be tomorrow's winners. That's why StockWire News has put together a special Wealth Building Report, highlighting 3 small cap stocks set to soar in 2023.
Click here for full details and to join for free.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for PDM have a consensus price objective of $13.33. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $13.00. The average price target is 42.59% above its recent price level and an upside to the estimated low will see the stock gain 40.38% over that period. But an upside of 44.64% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
Insiders at the company have transacted a total of 84 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 299,572 shares. Insider sales of the common stock occurred on 41 occasions, with total insider shares sold totaling 106,086 shares.
The top 3 mutual fund holders in Piedmont Office Realty Trust Inc. are Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and Capitol Series Trust – Fuller & T. Vanguard Real Estate Index Fund owns 5.51 million shares of the company’s stock, all valued at over $50.43 million. The company bought an additional 3276.0 shares recently to bring their total holdings to about 4.47% of the shares outstanding. Vanguard Total Stock Market Index bought 12131.0 shares to see its total holdings expand to 3.8 million shares valued at over $34.78 million and representing 3.08% of the shares outstanding. Capitol Series Trust – Fuller & T now owns shares totaling to 2.77% of the shares outstanding.
Shares of Piedmont Office Realty Trust Inc. (NYSE: PDM) opened at $8.43, up $0.3 from a prior closing price of $8.13. However, the script later moved the day high at 8.47, down -4.67%. The company’s stock has a 5-day price change of -14.36% and -16.03% over the past three months. PDM shares are trading -15.49% year to date (YTD), with the 12-month market performance down to -53.70% lower. It has a 12-month low price of $7.95 and touched a high of $17.66 over the same period. PDM has an average intraday trading volume of 1.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -17.83%, -20.58%, and -30.79% respectively.
Institutional ownership of Piedmont Office Realty Trust Inc. (NYSE: PDM) shares accounts for 87.70% of the company’s 123.42M shares outstanding. Mutual fund holders own 34.38%, while other institutional holders and individual stakeholders account for 49.65% and 2.11% respectively.
It has a market capitalization of $1.00B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 6.52, while the earnings-per-share (ttm) stands at $1.19. The company has a PEG of 1.63 and the debt-to-equity ratio at 1.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.68% over the week and 3.16% over the month.
Analysts forecast that Piedmont Office Realty Trust Inc. (PDM) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0.12 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -102.50%, and 33.30% over the next financial year. EPS should shrink at an annualized rate of 4.00% over the next five years, compared to 5.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Piedmont Office Realty Trust Inc. (PDM) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PDM, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on January 07, 2020, with the firm’s price target at $26. Stifel on their part issued Sell rating on March 13, 2018.
Leave a Reply