Cubist Systematic Strategies LLC Makes New $1.12 Million Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Cubist Systematic Strategies LLC bought a new position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 122,715 shares of the real estate investment trust's stock, valued at approximately $1,123,000. Cubist Systematic Strategies LLC owned 0.10% of Piedmont Office Realty Trust at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PDM. Wilsey Asset Management Inc. boosted its stake in Piedmont Office Realty Trust by 2.0% in the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust's stock worth $36,175,000 after purchasing an additional 77,220 shares in the last quarter. Vision Capital Corp boosted its stake in Piedmont Office Realty Trust by 65.0% in the 4th quarter. Vision Capital Corp now owns 3,526,777 shares of the real estate investment trust's stock worth $32,270,000 after purchasing an additional 1,389,477 shares in the last quarter. Prudential Financial Inc. boosted its stake in Piedmont Office Realty Trust by 34.6% in the 4th quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust's stock worth $24,882,000 after purchasing an additional 699,339 shares in the last quarter. Wellington Management Group LLP boosted its stake in Piedmont Office Realty Trust by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust's stock worth $19,278,000 after purchasing an additional 546,242 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Piedmont Office Realty Trust by 16.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,780,288 shares of the real estate investment trust's stock worth $16,290,000 after purchasing an additional 245,518 shares in the last quarter. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE PDM traded down $0.16 during trading on Monday, reaching $6.87. 917,347 shares of the company traded hands, compared to its average volume of 894,740. The firm has a 50 day simple moving average of $6.79 and a 200-day simple moving average of $8.03. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $854.68 million, a PE ratio of -10.90 and a beta of 1.37. Piedmont Office Realty Trust, Inc. has a 52-week low of $5.46 and a 52-week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly 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. The firm had revenue of $136.06 million for the quarter, compared to the consensus estimate of $141.29 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. Equities research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

PDM has been the topic of a number of analyst reports. Truist Financial reiterated a "buy" rating and issued a $10.00 price target (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. StockNews.com raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Finally, Robert W. Baird dropped their price target on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Monday, February 24th.

Insider Buying and Selling

In other Piedmont Office Realty Trust news, CFO Sherry L. Rexroad acquired 16,850 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $5.95 per share, with a total value of $100,257.50. Following the completion of the acquisition, the chief financial officer now owns 16,850 shares in the company, valued at $100,257.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.29% of the stock is currently owned by insiders.

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.