122,715 Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 122,715 shares of the real estate investment trust’s stock, valued at approximately $1,123,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDM. Sterling Capital Management LLC boosted its position in Piedmont Office Realty Trust by 809.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 3,520 shares during the period. Harbour Investments Inc. boosted its position in Piedmont Office Realty Trust by 25.4% in the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 1,216 shares during the period. Xponance Inc. purchased a new position in Piedmont Office Realty Trust in the 4th quarter valued at approximately $95,000. Coldstream Capital Management Inc. purchased a new position in Piedmont Office Realty Trust in the 4th quarter valued at approximately $99,000. Finally, Arkadios Wealth Advisors purchased a new position in Piedmont Office Realty Trust in the 4th quarter valued at approximately $105,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Insider Activity at Piedmont Office Realty Trust

In related news, CFO Sherry L. Rexroad purchased 16,850 shares of Piedmont Office Realty Trust stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $5.95 per share, with a total value of $100,257.50. Following the completion of the transaction, the chief financial officer now directly owns 16,850 shares in the company, valued at approximately $100,257.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on PDM. Baird R W cut shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Truist Financial reaffirmed a “buy” rating and set a $10.00 price objective (down from $11.00) on shares of Piedmont Office Realty Trust in a research report on Tuesday, February 25th. Finally, Robert W. Baird decreased their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, February 24th.

Piedmont Office Realty Trust Price Performance

Piedmont Office Realty Trust stock opened at $6.88 on Wednesday. The stock has a market cap of $855.93 million, a P/E ratio of -10.92 and a beta of 1.37. The company has a fifty day simple moving average of $6.81 and a 200-day simple moving average of $8.13. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.46 and a 12-month high of $11.12. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The business had revenue of $136.06 million during the quarter, compared to analysts’ expectations of $141.29 million. During the same period in the previous year, the company earned $0.39 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.