State Street Corp. Discloses Passive Stake in Piedmont Office Realty
Ticker: PDM · Form: SC 13G · Filed: 2024-01-29T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, passive-investing, REIT, SC-13G
TL;DR
**State Street just revealed a big passive stake in Piedmont Office Realty Trust.**
AI Summary
State Street Corporation, a major financial institution, reported its holdings in Piedmont Office Realty Trust Inc. (REIT) as of December 31, 2023. This SC 13G filing indicates that State Street Corporation is a passive investor, holding a significant but non-controlling stake. For investors, this means a large institutional player sees value in Piedmont Office Realty Trust, potentially signaling stability or confidence in the company's real estate assets.
Why It Matters
This filing shows a major institutional investor, State Street Corporation, has a significant passive stake in Piedmont Office Realty Trust, which can be a vote of confidence for current and prospective shareholders.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of passive ownership by a large institution and does not indicate any immediate risks or changes in company control.
Analyst Insight
An investor should note that a large, reputable institution like State Street Corporation holds a passive stake in Piedmont Office Realty Trust, which could be seen as a positive signal regarding the company's long-term stability, but it doesn't imply any immediate operational changes or activist involvement.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Piedmont Office Realty Trust, Inc. (company) — the subject company (issuer) whose securities are being reported
- December 31, 2023 (date) — the date of the event which requires the filing of this statement
- REIT (company) — the title of the class of securities held by State Street Corporation
FAQ
What type of filing is this document?
This document is an SC 13G filing, specifically an 'INITIAL FILING' under the Securities Exchange Act of 1934, as stated on the first page of the filing.
Who is the 'Reporting Person' in this SC 13G filing?
The 'Reporting Person' is State Street Corporation, as explicitly stated under '1. NAME OF REPORTING PERSON' on page 2 of 5.
What is the 'Subject Company' or 'Issuer' in this filing?
The 'Subject Company' or 'Issuer' is Piedmont Office Realty Trust Inc., as identified under 'NAME OF ISSUER' on the first page of the filing.
What is the CUSIP number for the securities reported?
The CUSIP number for the class of securities (REIT) is 720190206, as listed on the first page and again on page 2 of 5.
What was the 'Date of Event' that triggered this filing?
The 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT' was 12/31/2023, as indicated on the first page of the filing.
From the Filing
EDGAR Filing Documents for 0000093751-24-000291 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G - Statement of Beneficial Ownership by Certain Investors: SEC Accession No. 0000093751-24-000291 Filing Date 2024-01-29 Accepted 2024-01-29 07:20:56 Documents 1 Document Format Files Seq Description Document Type Size 1 Pied_Off_Realty_Tr_Inc.txt SC 13G 6680 Complete submission text file 0000093751-24-000291.txt 8784 Mailing Address 1 CONGRESS STREET SUITE 1 BOSTON MA 02114 Business Address 1 CONGRESS STREET SUITE 1 BOSTON MA 02114 617 786-3000 STATE STREET CORP (Filed by) CIK : 0000093751 (see all company filings) EIN. : 042456637 | State of Incorp.: MA | Fiscal Year End: 1231 Type: SC 13G SIC : 6022 State Commercial Banks (CF Office: 02 Finance) Mailing Address 5565 GLENRIDGE CONNECTOR STE 450 ATLANTA GA 30342 Business Address 5565 GLENRIDGE CONNECTOR STE 450 ATLANTA GA 30342 7704188800 Piedmont Office Realty Trust, Inc. (Subject) CIK : 0001042776 (see all company filings) EIN. : 582328421 | State of Incorp.: MD | Fiscal Year End: 1231 Type: SC 13G | Act: 34 | File No.: 005-80150 | Film No.: 24570090 SIC : 6512 Opeators of Nonresidential Buildings (CF Office: 05 Real Estate & Construction)