Piedmont Office Realty Trust (NYSE:PDM) has tumbled 1.25% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 4.04% in the last four weeks. The stocks have underperformed the S&P 500 by 0.06% during the past week but Piedmont Office Realty Trust (NYSE:PDM) it has outperformed the index in 4 weeks by 3.09%.
Piedmont Office Realty Trust (NYSE:PDM): The stock opened at $20.69 on Friday but the bulls could not build on the opening and the stock topped out at $20.76 for the day. The stock traded down to $20.52 during the day, due to lack of any buying support eventually closed down at $20.60 with a loss of -0.53% for the day. The stock had closed at $20.71 on the previous day. The total traded volume was 1,723,717 shares.
The company shares have rallied 15.28% from its 1 Year high price. On Jun 13, 2016, the shares registered one year high at $20.99 and the one year low was seen on Aug 26, 2015. The 50-Day Moving Average price is $20.31 and the 200 Day Moving Average price is recorded at $19.30.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Moon Laura P, officer (SVP- CAO) of Piedmont Office Realty Trust, Inc., had unloaded 11,000 shares at an average price of $18.75 in a transaction dated on December 10, 2015. The total value of the transaction was worth $206,250.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm DA Davidson maintains its rating on Piedmont Office Realty Trust (NYSE:PDM). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at DA Davidson raises the price target from $20 per share to $22 per share. The rating by the firm was issued on May 3, 2016. Currently the company Insiders own 0.69% of Piedmont Office Realty Trust shares according to the proxy statements. Institutional Investors own 82.59% of Piedmont Office Realty Trust shares.
Piedmont Office Realty Trust, Inc. (Piedmont) is an integrated, self-managed real estate investment trust (REIT) specializing in the acquisition, ownership, management, development, and disposition of primarily Class A office buildings located in the United States office markets. The Company conducts business through Piedmont Operating Partnership, L.P., as well as performing the management of its buildings through two wholly owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. The Company owns and operates 74 office properties, one redevelopment asset, and one office building through an unconsolidated joint venture. The Companys office buildings are located primarily in nine United States office markets, including Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, Minneapolis, New York and Washington, D.C.