🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Piedmont Office Realty Trust names new CFO

Published 09/30/2024, 04:20 PM
AIV
-

ATLANTA - Piedmont Office (NYSE:PDM) Realty Trust, Inc. (NYSE:PDM), a significant player in the Class A office property market, today announced an upcoming change in its executive team. Chief Financial Officer Robert E. Bowers will transition to an administrative role starting November 8, with Sherry L. Rexroad stepping in as his successor.

Ms. Rexroad is set to bring a wealth of experience to Piedmont, having accumulated around 30 years in the realms of real estate investment trusts (REITs), finance, and capital markets. Her recent tenure as CFO of STORE Capital, a net-lease REIT publicly traded on the stock market, and previous strategic roles at BlackRock (NYSE:BLK) Global Real Asset Securities, where she served as Global Head of Business Development, Co-Global Chief Investment Officer, and Chair of the Investment Committee, highlight her extensive background. Additionally, she holds a board position at Apartment Investment and Management Company (NYSE: AIV).

Piedmont's CEO, C. Brent Smith, acknowledged Bowers' significant contributions to the company since its public listing in 2010, expressing both gratitude for his service and anticipation for Rexroad's leadership in the company's future endeavors.

Piedmont Office Realty Trust, with a portfolio worth approximately $5 billion, manages about 16 million square feet of prime office space, primarily in the U.S. Sunbelt markets. The company prides itself on being a fully-integrated, self-managed REIT with an investment-grade rating and has recently been recognized as a 2024 ENERGY STAR Partner of the Year for Sustained Excellence.

This leadership transition is expected to maintain the company's strong position in the market and contribute to its strategic growth. The information in this article is based on a press release statement from Piedmont Office Realty Trust.

InvestingPro Insights

To complement the news of Piedmont Office Realty Trust's executive transition, let's take a closer look at Apartment Investment and Management Company (NYSE: AIV), where Sherry L. Rexroad holds a board position.

According to InvestingPro data, AIV has a market capitalization of $1.4 billion and has shown strong revenue growth of 10.79% over the last twelve months as of Q2 2024. This growth trend is further emphasized by an 11.98% quarterly revenue increase in Q2 2024, indicating positive momentum in the company's operations.

An InvestingPro Tip suggests that AIV's stock price movements are quite volatile, which could be of interest to investors considering the current market conditions and the company's connection to the incoming CFO of Piedmont Office Realty Trust.

Another relevant InvestingPro Tip notes that AIV's management has been aggressively buying back shares. This strategy often signals management's confidence in the company's value and future prospects, which could be seen as a positive indicator for both AIV and potentially for Piedmont Office Realty Trust as they bring on a board member from AIV as their new CFO.

For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for AIV, providing a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.