Glenn Cohen Is The Independent Director of Piedmont Office Realty Trust, Inc. (NYSE:PDM) And They Just Picked Up 40% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Piedmont Office Realty Trust, Inc. (NYSE:PDM) Independent Director, Glenn Cohen, recently bought US$79k worth of stock, for US$15.82 per share. That purchase might not be huge but it did increase their holding by 40%.
View our latest analysis for Piedmont Office Realty Trust
Piedmont Office Realty Trust Insider Transactions Over The Last Year
Notably, that recent purchase by Glenn Cohen is the biggest insider purchase of Piedmont Office Realty Trust shares that we've seen in the last year. That implies that an insider found the current price of US$16.99 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices.
Piedmont Office Realty Trust insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Piedmont Office Realty Trust is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Piedmont Office Realty Trust
For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Piedmont Office Realty Trust insiders own 1.2% of the company, worth about US$24m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At Piedmont Office Realty Trust Tell Us?
It is good to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Insiders likely see value in Piedmont Office Realty Trust shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Piedmont Office Realty Trust. Our analysis shows 2 warning signs for Piedmont Office Realty Trust (1 shouldn't be ignored!) and we strongly recommend you look at them before investing.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
