PDM Piedmont Realty Trust, Inc. Class A Common Stock

NYSE · Real Estate · View on SEC EDGAR ↗
$9.58
Price · Aug 19, 2026
Fundamentals as of Jul 28, 2026
52W Range
$6–$10
86% of range
Analyst Rating
HOLD
8 analysts
Price Target
$10
+10% upside
P/E (TTM)
-14.4
ROE
-5.4%
Net Profit Margin
-14.8%

PDM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$9.58
Market Cap
$1.20B
P/E (TTM)
-14.4
EPS (TTM)
$-0.67
Revenue (TTM)
$565M
Div Yield
2.6%
ROE
-5.4%
Debt/Equity
—
52W Range
$6 – $10

PDM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $565M
10-point trend, +1.7%
2016-12-31 → 2025-12-31
EPS $-0.67
7-point trend, -136.8%
2019-12-31 → 2025-12-31
Free Cash Flow —
Margins -14.8%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
PDM
Peer Median
P/E (TTM)
5-point trend, +99.3%
-14.4
42.1
P/S (TTM)
5-point trend, -57.0%
2.1
2.0
P/B
5-point trend, -45.2%
0.8
0.9

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
PDM
Peer Median
Net Profit Margin
5-point trend, -6627.3%
-14.8%
-2.6%
ROA
5-point trend, -6733.3%
-2.1%
-0.28%
ROE
5-point trend, -8950.0%
-5.4%
-1.4%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
PDM
Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
PDM
Peer Median
Revenue YoY
5-point trend, +6.9%
-0.93%
—
Revenue CAGR 3Y
5-point trend, +6.9%
0.07%
—
Revenue CAGR 5Y
5-point trend, +6.9%
1.1%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
PDM
Peer Median
EPS (Diluted)
5-point trend, -6600.0%
$-0.67
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
PDM
Peer Median
Payout Ratio
5-point trend, +99.6%
-36.9%
—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
2.6%
Payout Ratio
-36.9%
5Y Div CAGR
—
Ex-dateAmount
Feb. 21, 2025$0.1250
Nov. 22, 2024$0.1250
Aug. 23, 2024$0.1250
May 23, 2024$0.1250
Feb. 22, 2024$0.1250
Nov. 22, 2023$0.1250
Aug. 24, 2023$0.1250
May 25, 2023$0.2100
Feb. 23, 2023$0.2100
Nov. 23, 2022$0.2100
Aug. 25, 2022$0.2100
May 26, 2022$0.2100
Feb. 24, 2022$0.2100
Nov. 24, 2021$0.2100
Aug. 26, 2021$0.2100
June 17, 2021$0.2100
May 27, 2021$0.2100
Feb. 25, 2021$0.2100
Nov. 25, 2020$0.2100
Aug. 27, 2020$0.2100

PDM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 8 analysts
  • Strong Buy 1 12.5%
  • Buy 3 37.5%
  • Hold 4 50.0%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

4 analysts · 2026-08-17
Median target $10.50 +9.6%
Mean target $10.50 +9.6%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
-0.09%
Period EPS Actual EPS Est Surprise
June 30, 2026 $-0.09 $-0.06 -0.03%
March 31, 2026 $-0.10 $-0.03 -0.07%
Dec. 31, 2025 $-0.35 $-0.05 -0.30%
Sept. 30, 2025 $-0.11 $-0.05 -0.06%
June 30, 2025 $-0.14 $-0.05 -0.09%
March 31, 2025 $-0.08 $-0.07 -0.01%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
PDM $1.04B -12.4 -0.93% -14.8% -5.4% —
SLG $3.26B -28.5 13.2% -9.7% -2.5% —
KRC $4.42B 16.1 -2.0% 27.2% 5.6% —
HIW $2.84B 17.8 -2.4% 20.2% 6.9% —
DEI $1.84B 122.1 1.8% 1.6% 0.82% 63.3%
DEA $981M 78.5 11.3% 3.9% 0.98% —
ESRT — 26.1 0.05% 9.5% 7.0% —
HPP $587M -0.8 -1.3% -71.3% -20.3% 48.5%
PSTL — 34.3 25.5% 14.8% 5.3% —
JBGS — -8.1 -8.9% -27.9% -11.2% —
BXP $10.70B 38.8 2.2% 8.0% 5.2% 59.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 13
Annual Income Statement data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, -0.2% $565M $570M $578M $564M $529M $535M $533M $526M $574M $556M $585M $566M
SG&A Expense 12-point trend, +28.4% $31M $35M $29M $29M $30M $27M $38M $30M $29M $27M $30M $24M
Operating Expenses 12-point trend, +5.9% $486M $530M $530M $506M $489M $446M $441M $410M $493M $485M $511M $458M
Operating Income 5-point trend, +7.3% · · · · · · · $116M $81M $71M $74M $108M
Interest Expense 10-point trend, +36.0% · · $101M $66M $51M $55M $62M $61M $68M $65M $74M $74M
Other Non-op 12-point trend, -263077.4% $-163M $-119M $-96M $89M $-41M $144M $2M $2M $657.0K $-13.0K $2M $62.0K
Income Tax 12-point trend, -1000.00 $-1.0K $-2.0K $39.0K $-10.0K $-379.0K $4.0K $160.0K $-97.0K $13.0K $415.0K $85.0K $0
Net Income 12-point trend, -298.4% $-84M $-79M $-48M $147M $-1M $233M $229M $130M $134M $100M $131M $42M
EPS (Basic) 7-point trend, -136.8% $-0.67 $-0.64 $-0.39 $1.19 $-0.01 $1.85 $1.82 · · · · ·
EPS (Diluted) 7-point trend, -136.8% $-0.67 $-0.64 $-0.39 $1.19 $-0.01 $1.85 $1.82 · · · · ·
Shares (Basic) 12-point trend, -19.4% 124,435,499 123,938,819 123,658,622 123,351,187 123,977,616 125,730,460 125,709,207 130,161,202 145,043,503 145,230,382 150,537,757 154,452,121
Shares (Diluted) 12-point trend, -19.5% 124,435,499 123,938,819 123,658,622 123,523,881 123,977,616 126,104,321 126,182,137 130,635,650 145,379,994 145,634,953 150,880,116 154,585,273
EBITDA 12-point trend, -31.5% $181M $178M $179M $166M $149M $143M $133M $244M $227M $226M $232M $265M
Balance Sheet 11
Annual Balance Sheet data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, -94.1% $731.0K $110M $825.0K $17M $7M $7M $14M $5M $7M $7M $5M $12M
Goodwill 12-point trend, -70.3% $53M $53M $53M $83M $99M $99M $99M $99M $99M $99M $105M $180M
Intangibles 12-point trend, -36.8% $44M $60M $83M $114M $94M $91M $74M $78M $78M $100M $85M $70M
Total Assets 12-point trend, -15.8% $4.03B $4.11B $4.06B $4.09B $3.93B $3.74B $3.52B $3.59B $4.00B $4.37B $4.36B $4.79B
Total Liabilities 12-point trend, +2.4% $2.53B $2.53B $2.33B $2.24B $2.14B $1.84B $1.70B $1.88B $2.01B $2.27B $2.24B $2.48B
Long-term Debt 12-point trend, -2.0% $2.22B $2.22B $2.05B $1.98B $1.88B $1.62B $1.48B $1.69B $1.73B $2.02B $2.03B $2.27B
Common Stock 12-point trend, -19.3% $1M $1M $1M $1M $1M $1M $1M $1M $1M $1M $1M $2M
AOCI 12-point trend, -208.0% $-9M $-10M $-9M $-9M $-18M $-24M $967.0K $8M $8M $2M $2M $8M
Stockholders' Equity 12-point trend, -35.3% $1.50B $1.59B $1.72B $1.85B $1.79B $1.90B $1.82B $1.71B $1.98B $2.10B $2.12B $2.31B
Liabilities + Equity 12-point trend, -15.8% $4.03B $4.11B $4.06B $4.09B $3.93B $3.74B $3.52B $3.59B $4.00B $4.37B $4.36B $4.79B
Shares Outstanding 12-point trend, -19.3% 124,519,278 124,083,000 123,715,000 123,440,000 123,077,000 123,839,000 125,783,000 126,219,000 142,359,000 145,235,000 145,512,000 154,324,000
Cash Flow 13
Annual Cash Flow data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +15.5% $181M $178M $179M $166M $149M $143M $133M $128M $146M $155M $155M $157M
Stock-based Comp 12-point trend, +84.1% $10M $10M $8M $9M $11M $10M $15M $10M $9M $8M $9M $5M
Amort. of Intangibles 12-point trend, +2.2% $58M $64M $78M $82M $79M $85M $72M $58M $74M $74M $61M $56M
Other Non-cash 11-point trend, +183.8% $33M $90M $71M $-107M $83M $-192M $-169M $-66M $-46M · $-118M $12M
Operating Cash Flow 12-point trend, -35.3% $141M $198M $210M $215M $242M $193M $208M $203M $243M $232M $224M $217M
CapEx · · · · · · · · · · · $291M
Investing Cash Flow 12-point trend, +34.3% $-175M $-187M $-196M $-1M $-369M $-198M $134M $324M $241M $-120M $300M $-267M
Stock Repurchased 10-point trend, -100.0% · · $0 $0 $20M $30M $17M $299M $60M $8M $159M $55M
Net Stock Activity 10-point trend, +100.0% · · $0 $0 $-20M $-30M $-17M $-299M $-60M $-8M $-159M $-55M
Dividends Paid 7-point trend, -71.0% $31M $62M $93M $104M $104M $106M $106M · · · · ·
Financing Cash Flow 12-point trend, -236.6% $-75M $98M $-30M $-203M $126M $-2M $-334M $-529M $-483M $-114M $-531M $55M
Net Change in Cash 12-point trend, -2164.3% $-110M $110M $-15M $11M $-354.0K $-6M $9M $-3M $551.0K $-2M $-7M $5M
Free Cash Flow · · · · · · · · · · · $-76M
Profitability 5
Annual Profitability data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Operating Margin 5-point trend, +15.5% · · · · · · · 22.0% 14.2% 12.7% 13.1% 19.0%
Net Margin 11-point trend, -293.2% -14.8% -13.9% -8.4% 26.0% -0.22% 43.5% 43.0% 24.8% 23.3% · 29.6% 7.7%
EBITDA Margin 12-point trend, -31.4% 32.1% 31.1% 31.1% 29.5% 28.2% 26.7% 24.9% 46.4% 39.6% 40.7% 39.6% 46.7%
ROA 11-point trend, -322.8% -2.1% -1.9% -1.2% 3.7% -0.03% 6.4% 6.5% 3.4% 3.2% · 3.8% 0.92%
ROE 11-point trend, -398.4% -5.4% -4.8% -2.7% 8.1% -0.06% 12.5% 13.0% 7.0% 6.6% · 8.2% 1.8%
Liquidity & Solvency 1
Annual Liquidity & Solvency data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Interest Coverage 5-point trend, +30.9% · · · · · · · 1.9 1.2 1.1 1.0 1.4
Efficiency 1
Annual Efficiency data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 11-point trend, +15.9% 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 · 0.1 0.1
Per Share 6
Annual Per Share data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 11-point trend, -19.8% $12.01 $12.79 $13.91 $14.97 $14.51 $15.31 $14.45 $13.55 $13.94 · $15.09 $14.97
Revenue / Share 12-point trend, +24.0% $4.54 $4.60 $4.67 $4.56 $4.26 $4.24 $4.23 $4.03 $3.95 $3.82 $3.88 $3.66
Cash Flow / Share 12-point trend, -19.1% $1.13 $1.60 $1.70 $1.74 $1.95 $1.53 $1.65 $1.55 $1.67 $1.62 $1.44 $1.40
Cash / Share 11-point trend, -92.6% $0.01 $0.88 $0.01 $0.13 $0.06 $0.06 $0.11 $0.04 $0.05 · $0.04 $0.08
Dividend Paid / Share 12-point trend, -84.6% $0 $0 $1 $1 $1 $1 $1 $1 $1 $1 $1 $1
EPS (TTM) 11-point trend, -221.8% $-0.67 $-0.64 $-0.39 $1.19 $-0.01 $1.85 $1.82 $0.99 · $0.55 $0.55 $0.55
Growth Rates 4
Annual Growth Rates data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, +21.2% -0.93% -1.3% 2.5% 6.6% -1.2% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -97.3% 0.07% 2.6% 2.6% · · · · · · · · ·
Revenue CAGR 5Y 1.1% · · · · · · · · · · ·
Dividend CAGR 5Y -21.9% · · · · · · · · · · ·
Valuation (TTM) 13
Annual Valuation (TTM) data for PDM
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, -0.2% $565M $570M $578M $564M $529M $535M $533M $526M $574M $556M $585M $566M
Net Income TTM 12-point trend, -298.4% $-84M $-79M $-48M $147M $-1M $233M $229M $130M $134M $100M $131M $42M
Market Cap 11-point trend, -64.3% $1.04B $1.14B $880M $1.13B $2.26B $2.01B $2.80B $2.15B $2.79B · $2.75B $2.91B
P/E 11-point trend, -136.3% -12.4 -14.3 -18.2 7.7 -1838.0 8.8 12.2 17.2 · 38.0 34.3 34.3
P/S 11-point trend, -64.2% 1.8 2.0 1.5 2.0 4.3 3.8 5.2 4.1 4.9 · 4.7 5.1
P/B 11-point trend, -44.8% 0.7 0.7 0.5 0.6 1.3 1.1 1.5 1.3 1.4 · 1.3 1.3
P / Tangible Book 6-point trend, -36.9% 0.7 0.8 0.6 0.7 1.4 1.2 · · · · · ·
P / Cash Flow 11-point trend, -45.1% 7.4 5.7 4.2 5.3 9.3 10.4 13.4 10.6 11.5 · 12.6 13.5
P / FCF · · · · · · · · · · · -38.5
Dividend Yield 7-point trend, -21.8% 3.0% 5.5% 10.6% 9.2% 4.6% 5.3% 3.8% · · · · ·
Earnings Yield 11-point trend, -375.0% -8.0% -7.0% -5.5% 13.0% -0.05% 11.4% 8.2% 5.8% · 2.6% 2.9% 2.9%
Payout Ratio 5-point trend, +99.6% -36.9% -78.2% -192.5% 71.1% -9011.7% · · · · · · ·
Annual Payout 7-point trend, -71.0% $31M $62M $93M $104M $104M $106M $106M · · · · ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $565M$570M$578M$564M$529M
Net Income $-84M$-79M$-48M$147M$-1M
Diluted EPS $-0.67$-0.64$-0.39$1.19$-0.01

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Institutional owners (13F) 268 filers · $681.8M total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
43 (+9 vs prior Q) 30 (+3 vs prior Q) 89 (+27 vs prior Q) 68 (-20 vs prior Q) +25.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD PORTFOLIO MANAGEMENT LLC $116,047,574 12,682,795 17.02% Shares
VANGUARD CAPITAL MANAGEMENT LLC $50,937,803 5,566,973 7.47% Shares
STATE STREET CORP $48,253,788 5,273,638 7.08% Shares
WILSEY ASSET MANAGEMENT INC $44,919,470 4,909,232 6.59% Shares
PRIVATE MANAGEMENT GROUP INC $37,290,267 4,075,439 5.47% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $30,956,545 3,383,229 4.54% Shares
GEODE CAPITAL MANAGEMENT, LLC $27,892,795 3,047,863 4.09% Shares
WELLINGTON MANAGEMENT GROUP LLP $20,869,997 2,280,874 3.06% Shares
TWO SIGMA INVESTMENTS, LP $18,134,586 1,981,922 2.66% Shares
DONALD SMITH & CO., INC. $17,788,332 1,944,080 2.61% Shares
SYSTEMATIC FINANCIAL MANAGEMENT LP $16,485,948 1,801,743 2.42% Shares
AMERIPRISE FINANCIAL INC $15,484,245 1,692,267 2.27% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $15,394,720 1,682,483 2.26% Shares
CENTERSQUARE INVESTMENT MANAGEMENT LLC $13,891,777 1,518,227 2.04% Shares
Glenmede Investment Management, LP $13,158,684 1,462,076 1.93% Shares
DIMENSIONAL FUND ADVISORS LP $10,965,653 1,198,432 1.61% Shares
GLENMEDE TRUST CO NA $10,770,126 1,177,063 1.58% Shares
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. $10,551,350 1,153,153 1.55% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $9,482,557 1,036,345 1.39% Shares
VANGUARD FIDUCIARY TRUST CO $7,595,808 830,143 1.11% Shares
BlackRock, Inc. $7,286,209 796,307 1.07% Shares
Clearbridge Investments, LLC $7,142,861 780,641 1.05% Shares
CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC $7,121,646 778,322 1.04% Shares
VANGUARD GROUP INC $6,671,650 799,958 0.98% Shares
TWO SIGMA ADVISERS, LP $5,993,124 718,600 0.88% Shares
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. $5,297,859 579,001 0.78% Shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $5,196,001 567,869 0.76% Shares
WOLVERINE ASSET MANAGEMENT LLC $4,936,544 539,513 0.72% Shares
Nepsis Inc. $4,422,341 483,316 0.65% Shares
DC Investments Management, LLC $3,710,343 405,502 0.54% Shares
MORGAN STANLEY $3,313,882 362,172 0.49% Shares
VIRGINIA RETIREMENT SYSTEMS ET Al $3,236,245 388,039 0.47% Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. $3,132,000 342,302 0.46% Shares
JANE STREET GROUP, LLC $2,976,943 325,349 0.44% Shares
BANK OF AMERICA CORP /DE/ $2,771,453 302,891 0.41% Shares
Bank of New York Mellon Corp $2,732,693 298,655 0.40% Shares
MACQUARIE GROUP LTD $2,463,262 269,209 0.36% Shares
Swiss National Bank $2,294,820 250,800 0.34% Shares
NOMURA ASSET MANAGEMENT CO LTD $1,858,365 203,100 0.27% Shares
HSBC HOLDINGS PLC $1,825,526 199,511 0.27% Shares
RHUMBLINE ADVISERS $1,642,351 179,493 0.24% Shares
LPL Financial LLC $1,621,892 177,256 0.24% Shares
Quantinno Capital Management LP $1,496,859 163,591 0.22% Shares
MARTINGALE ASSET MANAGEMENT L P $1,453,414 158,843 0.21% Shares
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO $1,356,780 148,282 0.20% Shares
Focus Partners Wealth $1,295,386 141,572 0.19% Shares
State of New Jersey Common Pension Fund D $1,261,181 137,834 0.18% Shares
Sumitomo Mitsui Trust Group, Inc. $1,223,858 133,755 0.18% Shares
GOLDMAN SACHS GROUP INC $1,219,475 133,276 0.18% Shares
Asset Management One Co., Ltd. $1,215,575 185,019 0.18% Shares
ALLIANCEBERNSTEIN L.P. $1,166,129 177,493 0.17% Shares
Sonora Investment Management Group, LLC $1,151,100 127,900 0.17% Shares
CITADEL ADVISORS LLC $1,144,336 125,064 0.17% Shares
Allianz Asset Management GmbH $1,131,407 123,651 0.17% Shares
Swedbank AB $1,127,362 123,209 0.17% Shares
Cambria Investment Management, L.P. $1,102,987 120,545 0.16% Shares
Polymer Capital Management (US) LLC $1,097,295 119,923 0.16% Shares
Fisher Asset Management, LLC $1,066,614 116,570 0.16% Shares
Vanguard Investments Australia, Ltd. $1,024,233 111,938 0.15% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $972,471 106,281 0.14% Shares
VANGUARD ASSET MANAGEMENT, Ltd $919,950 100,541 0.13% Shares
FJ Capital Management LLC $917,397 100,262 0.13% Shares
Orion Portfolio Solutions, LLC $864,364 117,282 0.13% Shares
Orion Porfolio Solutions, LLC $861,389 94,141 0.13% Shares
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS $847,327 92,604 0.12% Shares
BARCLAYS PLC $786,076 85,910 0.12% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $779,498 118,645 0.11% Shares
FMR LLC $765,068 83,614 0.11% Shares
Amundi $714,359 78,072 0.10% Shares
MetLife Investment Management, LLC $710,077 77,604 0.10% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $696,379 76,107 0.10% Shares
Mitsubishi UFJ Trust & Banking Corp $689,736 75,381 0.10% Shares
Zurcher Kantonalbank (Zurich Cantonalbank) $687,202 75,104 0.10% Shares
LAZARD ASSET MANAGEMENT LLC $679,259 74,236 0.10% Shares
VARCOV Co. $594,594 64,983 0.09% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $534,799 58,448 0.08% Shares
Inspire Investing, LLC $508,787 77,441 0.07% Shares
Resona Asset Management Co.,Ltd. $498,647 53,634 0.07% Shares
MERCER GLOBAL ADVISORS INC /ADV $498,572 54,489 0.07% Shares
Robeco Institutional Asset Management B.V. $492,508 53,826 0.07% Shares
COMMONWEALTH EQUITY SERVICES, LLC $475,661 51,985 0.07% Shares
Aberdeen Group plc $466,696 51,005 0.07% Shares
Invesco Ltd. $463,740 50,682 0.07% Shares
CHOREO, LLC $446,091 48,744 0.07% Shares
Daiwa Securities Group Inc. $439,529 48,036 0.06% Shares
Ethic Inc. $433,948 47,426 0.06% Shares
Hazelview Securities Inc. $433,815 45,142 0.06% Shares
Vanguard Global Advisers, LLC $431,175 47,123 0.06% Shares
BNP PARIBAS FINANCIAL MARKETS $417,917 45,674 0.06% Shares
Vanguard Personalized Indexing Management, LLC $409,682 44,774 0.06% Shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC $407,003 43,623 0.06% Shares
OSAIC HOLDINGS, INC. $402,038 43,932 0.06% Shares
STATE OF WISCONSIN INVESTMENT BOARD $389,607 42,580 0.06% Shares
NEW YORK STATE COMMON RETIREMENT FUND $385,096 42,087 0.06% Shares
Graham Capital Management, L.P. $363,731 39,752 0.05% Shares
Police & Firemen's Retirement System of New Jersey $360,309 39,378 0.05% Shares
SEI INVESTMENTS CO $356,970 39,014 0.05% Shares
JANUS HENDERSON GROUP PLC $354,406 53,902 0.05% Shares
Engineers Gate Manager LP $354,169 38,707 0.05% Shares
Alyeska Investment Group, L.P. $343,034 37,490 0.05% Shares

Company insiders 37 insiders · 12 officers · 25 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Robert E Bowers EVP-CFO Feb. 23, 2024 M 362,402 0 0 $0
Christopher Brent Smith President & Chief Exec. Off Feb. 23, 2026 M 694,746 0 0 $0
Alex Valente EVP- Co-COO Feb. 23, 2026 M 83,232 0 0 $0
George M. Wells EVP- Co-COO Feb. 23, 2026 M 158,632 0 0 $0
Christopher A. Kollme EVP of Investments Feb. 23, 2026 M 123,123 0 0 $0
Laura P Moon EVP- CAO Feb. 23, 2026 M 79,277 0 0 $0
Robert K Wiberg EVP-NE Reg&Head of Development Dec. 31, 2024 M 175,887 0 0 $0
Edward H Guilbert III EVP - Finance Oct. 1, 2023 M 91,291 0 0 $0
Thomas R. Prescott EVP-Midwest Rgn-CoHead Devlpmt Dec. 7, 2022 M 104,840 0 0 $0
Joseph H. Pangburn EVP- Southwest Region Nov. 7, 2022 M 74,781 0 0 $0
Carroll A Reddic IV EVP- RE Ops June 30, 2019 D 95,216 0 0 $0
Raymond Lee Owens EVP- Chief Investment Officer May 24, 2017 F 92,404 0 0 $0
Deneen L Donnley Director May 12, 2026 A 17,529 0 0 $0
Jeffrey Donnelly Director May 12, 2026 A 13,672 0 0 $0
Glenn Gary Cohen Director May 12, 2026 A 82,083 0 0 $0
Stephen E Lewis Director May 15, 2025 A 2,312 0 0 $0
Mary M. Hager Director May 15, 2025 A 33,973 0 0 $0
Dale H. Taysom Director May 15, 2025 A 82,155 0 0 $0
Barbara B Lang Director May 15, 2025 A 51,191 0 0 $0
Kelly Hefner Barrett Director May 15, 2025 A 82,209 0 0 $0
Venkatesh S. Durvasula Director May 7, 2025 M 26,251 0 0 $0
Jeffrey L. Swope Director May 7, 2024 M 86,856 0 0 $0
Frank C Mcdowell Director May 7, 2024 M 85,661 0 0 $0
Wesley E Cantrell Director May 11, 2022 M 56,337 0 0 $0
Donald A Miller Director Dec. 13, 2019 G 616,380 0 0 $0
Raymond G. Milnes JR Director May 17, 2018 A 23,791 0 0 $0
Michael R Buchanan Director May 12, 2017 F 34,569 0 0 $0
William H Keogler JR Director May 12, 2015 F 38,146 0 0 $0
Wayne W Woody Director May 14, 2014 A 28,525 0 0 $0
Donald S Moss Director May 14, 2014 F 54,728 0 0 $0
Leo F Wells III Director April 16, 2007 J 19,573,181 0 0 $0
Neil H Strickland Director July 18, 2006 A — 0 0 $0
Bud Carter Director July 18, 2006 A 19,339 0 0 $0
Richard W Carpenter Director July 18, 2006 A — 0 0 $0
Walter W Sessoms Director Sept. 22, 2005 P 60,507 0 0 $0
John L Bell Director Sept. 20, 2003 A — 0 0 $0
Sherry L Rexroad — Feb. 17, 2026 A 43,151 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 52 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
BLDG · Cambria ETF Trust 1.59% 97,155 NS April 30, 2026 N-PORT
CVAR · ETF Opportunities Trust 0.52% 23,942 NS April 30, 2026 N-PORT
GQRE · FlexShares Trust 0.24% 110,287 NS April 30, 2026 N-PORT
JPSE · J.P. Morgan Exchange-Traded Fund Tr… 0.21% 146,008 NS April 30, 2026 N-PORT
ERTH · Invesco Exchange-Traded Fund Trust 0.17% 24,575 Aug. 8, 2026 Daily
BBRE · J.P. Morgan Exchange-Traded Fund Tr… 0.14% 211,514 NS May 31, 2026 N-PORT
USRT · iShares Trust 0.10% 466,315 SH Aug. 8, 2026 Daily
PPTY · ETF Series Solutions 0.09% 2,762 NS May 31, 2026 N-PORT
ERET · iShares Trust 0.09% 1,358 SH Aug. 8, 2026 Daily
FNDA · SCHWAB STRATEGIC TRUST 0.09% 946,241 NS May 31, 2026 N-PORT
DFAR · Dimensional ETF Trust 0.08% 165,370 NS April 30, 2026 N-PORT
IWN · iShares Trust 0.08% 1,170,675 SH Aug. 8, 2026 Daily
SCHH · SCHWAB STRATEGIC TRUST 0.07% 883,784 NS May 31, 2026 N-PORT
FREL · FIDELITY COVINGTON TRUST 0.07% 125,670 NS April 30, 2026 N-PORT
GSSC · Goldman Sachs ETF Trust 0.07% 86,151 NS May 31, 2026 N-PORT
VTWV · VANGUARD SCOTTSDALE FUNDS 0.07% 108,715 SH Aug. 8, 2026 Daily
REET · iShares Trust 0.06% 339,440 SH Aug. 8, 2026 Daily
VNQ · VANGUARD SPECIALIZED FUNDS 0.06% 4,775,262 SH Aug. 8, 2026 Daily
ESML · iShares Trust 0.06% 179,920 SH Aug. 8, 2026 Daily
DFGR · Dimensional ETF Trust 0.05% 227,501 NS April 30, 2026 N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust 0.04% 129,267 Aug. 8, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.04% 730,336 SH Aug. 8, 2026 Daily
IWM · iShares Trust 0.04% 3,239,249 SH Aug. 8, 2026 Daily
ISCV · iShares Trust 0.04% 26,704 SH Aug. 8, 2026 Daily
RSSL · Global X Funds 0.03% 53,886 NS April 30, 2026 N-PORT
ITWO · ProShares Trust 0.03% 5,852 NS May 31, 2026 N-PORT
SMLF · iShares Trust 0.03% 115,909 SH Aug. 8, 2026 Daily
SCHA · SCHWAB STRATEGIC TRUST 0.02% 605,364 NS May 31, 2026 N-PORT
VBR · VANGUARD INDEX FUNDS 0.02% 1,816,562 SH Aug. 8, 2026 Daily
ISCB · iShares Trust 0.02% 5,626 SH Aug. 8, 2026 Daily
UWM · ProShares Trust 0.02% 4,577 NS May 31, 2026 N-PORT
OMFS · Invesco Exchange-Traded Self-Indexe… 0.01% 3,578 Aug. 8, 2026 Daily
URTY · ProShares Trust 0.01% 4,630 NS May 31, 2026 N-PORT
WSML · iShares Trust 0.01% 7,412 SH Aug. 8, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.01% 1,442,488 SH Aug. 8, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.01% 2,859,207 SH Aug. 8, 2026 Daily
BIV · VANGUARD BOND INDEX FUNDS 0.01% 3,336,000 PA Aug. 8, 2026 Daily
VCSH · VANGUARD SCOTTSDALE FUNDS 0.01% 5,000,000 PA Aug. 8, 2026 Daily
VCIT · VANGUARD SCOTTSDALE FUNDS 0.01% 5,373,000 PA Aug. 8, 2026 Daily
TILT · FlexShares Trust 0.01% 20,636 NS April 30, 2026 N-PORT
FNDB · SCHWAB STRATEGIC TRUST 0.01% 11,045 NS May 31, 2026 N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS 0.01% 5,303 NS May 31, 2026 N-PORT
HDG · ProShares Trust 0.00% 116 NS May 31, 2026 N-PORT
GTO · Invesco Actively Managed Exchange-T… 0.00% 117,000 Aug. 8, 2026 Daily
ITOT · iShares Trust 0.00% 159,741 SH Aug. 8, 2026 Daily
IWV · iShares Trust 0.00% 34,516 SH Aug. 8, 2026 Daily
SCHB · SCHWAB STRATEGIC TRUST 0.00% 73,422 NS May 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 3,996,433 SH Aug. 8, 2026 Daily
BSV · VANGUARD BOND INDEX FUNDS 0.00% 1,124,000 PA Aug. 8, 2026 Daily
BND · VANGUARD BOND INDEX FUNDS 0.00% 8,070,000 PA Aug. 8, 2026 Daily