Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 67.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,164 shares of the real estate investment trust's stock after selling 215,760 shares during the quarter. Jane Street Group LLC owned approximately 0.08% of Piedmont Office Realty Trust worth $944,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in Piedmont Office Realty Trust by 809.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock worth $36,000 after buying an additional 3,520 shares in the last quarter. Harbour Investments Inc. increased its holdings 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 acquiring an additional 1,216 shares during the period. Xponance Inc. bought a new position in shares of Piedmont Office Realty Trust in the 4th quarter worth $95,000. Coldstream Capital Management Inc. purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth $99,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth $105,000. Hedge funds and other institutional investors own 84.48% of the company's stock.

Piedmont Office Realty Trust Stock Up 3.1%

Piedmont Office Realty Trust stock traded up $0.21 during midday trading on Wednesday, reaching $6.96. The company's stock had a trading volume of 1,517,935 shares, compared to its average volume of 903,295. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The stock has a market capitalization of $865.76 million, a P/E ratio of -11.05 and a beta of 1.37. The stock's 50-day simple moving average is $6.70 and its 200-day simple moving average is $7.89. 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 released its earnings results on Monday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $136.06 million during the quarter, compared to analysts' expectations of $141.29 million. During the same period last year, the business earned $0.39 EPS. Piedmont Office Realty Trust's revenue for the quarter was down 1.3% on a year-over-year basis. On average, sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, May 20th. Robert W. Baird decreased their target price 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. Finally, Wall Street Zen raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th.

Insider Activity

In other news, CFO Sherry L. Rexroad bought 16,850 shares of Piedmont Office Realty Trust stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average price of $5.95 per share, for a total transaction of $100,257.50. Following the purchase, the chief financial officer now directly owns 16,850 shares of the company's stock, valued at approximately $100,257.50. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company's stock.

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.