8,330 Shares in Piedmont Office Realty Trust, Inc. (NYSE:PDM) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) during the fourth quarter, Holdings Channel.com reports. The firm purchased 8,330 shares of the real estate investment trust’s stock, valued at approximately $76,000.

A number of other hedge funds have also bought and sold shares of PDM. Hudson Edge Investment Partners Inc. lifted its stake in shares of Piedmont Office Realty Trust by 4.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 1,180 shares during the period. Harbour Investments Inc. lifted its position in Piedmont Office Realty Trust by 25.4% during the 4th quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 1,216 shares during the period. Quantinno Capital Management LP grew its stake in Piedmont Office Realty Trust by 6.5% during the 4th quarter. Quantinno Capital Management LP now owns 22,803 shares of the real estate investment trust’s stock valued at $209,000 after purchasing an additional 1,390 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of Piedmont Office Realty Trust by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 1,453 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Piedmont Office Realty Trust by 15.8% in the fourth quarter. Meeder Asset Management Inc. now owns 12,125 shares of the real estate investment trust’s stock valued at $111,000 after purchasing an additional 1,650 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Office Realty Trust Stock Performance

NYSE PDM opened at $7.04 on Friday. The firm has a market capitalization of $875.83 million, a P/E ratio of -11.17 and a beta of 1.37. The stock has a 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $8.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The firm had revenue of $136.06 million for the quarter, compared to analyst estimates of $141.29 million. During the same period last year, the company earned $0.39 earnings per share. Piedmont Office Realty Trust’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Insider Transactions at Piedmont Office Realty Trust

In other news, CFO Sherry L. Rexroad bought 16,850 shares of the stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $5.95 per share, with a total value of $100,257.50. Following the purchase, the chief financial officer now directly owns 16,850 shares in the company, valued at $100,257.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird decreased their target price on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, February 24th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th.

Piedmont Office Realty Trust Profile

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.