Two Sigma Advisers LP Raises Stock Position in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Two Sigma Advisers LP grew its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 949,300 shares of the real estate investment trust's stock after purchasing an additional 136,300 shares during the quarter. Two Sigma Advisers LP owned approximately 0.77% of Piedmont Office Realty Trust worth $8,686,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PDM shares. Robert W. Baird cut 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 report on Monday, February 24th. Truist Financial cut their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. Finally, Wall Street Zen upgraded Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th.

Insider Buying and Selling

In other Piedmont Office Realty Trust news, CFO Sherry L. Rexroad purchased 16,850 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $5.95 per share, for a total transaction of $100,257.50. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is currently owned by insiders.

Piedmont Office Realty Trust Trading Up 1.5%

Shares of NYSE:PDM traded up $0.11 during trading on Thursday, reaching $7.08. 500,638 shares of the company were exchanged, compared to its average volume of 901,744. The firm has a market capitalization of $880.19 million, a PE ratio of -11.21 and a beta of 1.37. The business's fifty day simple moving average is $6.70 and its 200-day simple moving average is $7.89. 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 debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22.

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. 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 analyst estimates of $141.29 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. Piedmont Office Realty Trust's quarterly revenue was down 1.3% on a year-over-year basis. On average, research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current 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.