Crestline Management LP Takes $1.61 Million Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Crestline Management LP bought a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 176,056 shares of the real estate investment trust's stock, valued at approximately $1,611,000. Crestline Management LP owned 0.14% of Piedmont Office Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudson Edge Investment Partners Inc. increased its stake in shares of Piedmont Office Realty Trust by 4.8% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 25,550 shares of the real estate investment trust's stock valued at $234,000 after buying an additional 1,180 shares during the period. Harbour Investments Inc. increased its stake in shares of 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. Metis Global Partners LLC increased its stake in shares of Piedmont Office Realty Trust by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 14,225 shares of the real estate investment trust's stock valued at $130,000 after buying an additional 1,453 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Piedmont Office Realty Trust by 15.8% during the fourth quarter. Meeder Asset Management Inc. now owns 12,125 shares of the real estate investment trust's stock worth $111,000 after purchasing an additional 1,650 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Piedmont Office Realty Trust by 0.9% during the fourth quarter. Rhumbline Advisers now owns 227,700 shares of the real estate investment trust's stock worth $2,083,000 after purchasing an additional 1,954 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDM has been the subject of a number of analyst reports. Baird R W cut Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. StockNews.com raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, February 17th. Robert W. Baird decreased their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Finally, 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 note on Tuesday, February 25th.

Insider Activity

In other news, CFO Sherry L. Rexroad purchased 16,850 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of $5.95 per share, for a total transaction of $100,257.50. Following the completion of the acquisition, the chief financial officer now directly owns 16,850 shares in the company, valued at approximately $100,257.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company's stock.

Piedmont Office Realty Trust Trading Down 1.3%

NYSE:PDM traded down $0.09 on Friday, reaching $6.62. The company's stock had a trading volume of 1,027,444 shares, compared to its average volume of 887,345. Piedmont Office Realty Trust, Inc. has a 1-year low of $5.46 and a 1-year high of $11.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. The firm has a market cap of $823.58 million, a PE ratio of -10.51 and a beta of 1.37. The business's 50-day moving average price is $6.82 and its two-hundred day moving average price is $8.16.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $141.29 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The company's revenue was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Company 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.