Investing in Piedmont Office Realty Trust Inc. (PDM): What You Must Know

ZOM Stock
ZOM Stock

Piedmont Office Realty Trust Inc.’s recent filing unveils that its Director Swope Jeffrey L. acquired Company’s shares for reported $0.5 million on Mar 20. In the deal valued at $7.16 per share,70,000 shares were bought. As a result of this transaction, Swope Jeffrey L. now holds 197,518 shares worth roughly $ 1.22 million.

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Then, BARRETT KELLY HEFNER bought 10,000 shares, generating $70,544 in total proceeds. Upon buying the shares at $7.05, the Director now owns 45,762 shares.

Before that, Taysom Dale H. bought 2,000 shares. Piedmont Office Realty Trust Inc. shares valued at $13,975 were divested by the Director at a price of $6.99 per share. As a result of the transaction, Taysom Dale H. now holds 41,976 shares, worth roughly $0.26 million.

Robert W. Baird upgraded its Piedmont Office Realty Trust Inc. [PDM] rating to an Outperform from a a Neutral in a research note published on Monday. PT values the company’s stock at a premium of 76.27 to its Monday closing price.

Price Performance Review of PDM

On Monday, Piedmont Office Realty Trust Inc. [NYSE:PDM] saw its stock fall -2.53% to $6.17. On the same session, the stock had its day’s lowest price of $6.16, but rose to a high of $6.33. Over the last five days, the stock has lost -4.64%. Piedmont Office Realty Trust Inc. shares have fallen nearly -32.72% since the year began. Nevertheless, the stocks have fallen -48.15% over the past one year. While a 52-week high of $12.21 was reached on 02/09/23, a 52-week low of $5.99 was recorded on 05/26/23. SMA at 50 days reached $7.01, while 200 days put it at $7.83. A total of 0.9 million shares were traded, compared to the trading of 1.03 million shares in the previous session.

Levels Of Support And Resistance For PDM Stock

The 24-hour chart illustrates a support level at 6.11, which if violated will result in even more drops to 6.05. On the upside, there is a resistance level at 6.28. A further resistance level may holdings at 6.39. The Relative Strength Index (RSI) on the 14-day chart is 36.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.85%. Stochastics %K at 16.13% indicates the stock is a buying.

How much short interest is there in Piedmont Office Realty Trust Inc.?

A steep rise in short interest was recorded in Piedmont Office Realty Trust Inc. stocks on Aug 30, 2023, dropping by -0.11 million shares to a total of 3.17 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 3.28 million shares. There was a decline of -3.47%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.54% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.55.

Piedmont Office Realty Trust Inc. [PDM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 18,650,051 shares, or roughly 15.08% of the outstanding PDM shares. In other words, the investor’s shares have fallen by -1,104,472 from its previous 13-F filing of 19754523.0. Additionally, BlackRock Fund Advisors increased 4.47% of its stake after which the total value it holdings stand at $76,600,266, while SSgA Funds Management, Inc. reduced -0.58% of its stake to hold $42.53 million in the firm. Over the last quarter, LSV Asset Management purchased 295,400 shares of Piedmont Office Realty Trust Inc., while Fuller & Thaler Asset Management, bought 565,661 shares. At present, Private Management Group, Inc. is holding 3,554,499 shares valued at $24.42 million. Charles Schwab Investment Managem owned 2,997,639 shares of the company at the time of its most recent 13F filing, worth $20.59 million.

According to FactSet, Piedmont Office Realty Trust Inc.’s share price will average $10.17 in the next year, based on opinions of analysts polled by the firm. This is up nearly 42.18 percent from its previous closing price of $6.33. Analysts expect Piedmont Office Realty Trust Inc. stock to reach the higher price of $13.00, while the lowest price estimate is $8.50. However, 3 analysts have rated PDM stock as an Overweight in their predictions for 2023.


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