Nuveen Asset Management LLC Sells 988,771 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Nuveen Asset Management LLC cut its position in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 55.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 784,286 shares of the real estate investment trust's stock after selling 988,771 shares during the quarter. Nuveen Asset Management LLC owned 0.63% of Piedmont Office Realty Trust worth $7,176,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vision Capital Corp increased its stake in shares of Piedmont Office Realty Trust by 65.0% in the fourth quarter. Vision Capital Corp now owns 3,526,777 shares of the real estate investment trust's stock valued at $32,270,000 after buying an additional 1,389,477 shares during the period. Hudson Bay Capital Management LP grew its holdings in Piedmont Office Realty Trust by 58.8% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,281,624 shares of the real estate investment trust's stock worth $20,877,000 after acquiring an additional 845,098 shares during the last quarter. Helix Partners Management LP bought a new stake in Piedmont Office Realty Trust during the 4th quarter worth approximately $6,405,000. Prudential Financial Inc. increased its position 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 valued at $24,882,000 after acquiring an additional 699,339 shares during the period. Finally, Norges Bank bought a new position in shares of Piedmont Office Realty Trust during the fourth quarter valued at $5,106,000. 84.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Piedmont Office Realty Trust

In related news, CFO Sherry L. Rexroad bought 16,850 shares of the business's stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.29% of the company's stock.

Analyst Upgrades and Downgrades

PDM has been the topic of a number of recent research reports. Truist Financial cut 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 cut their target price on 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. Finally, Wall Street Zen raised Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, February 17th.

Piedmont Office Realty Trust Trading Up 0.3%

Shares of NYSE:PDM traded up $0.03 during trading on Tuesday, reaching $7.39. The stock had a trading volume of 1,147,973 shares, compared to its average volume of 906,294. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week 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's fifty day moving average is $6.70 and its 200 day moving average is $7.81. The stock has a market cap of $918.75 million, a price-to-earnings ratio of -11.72 and a beta of 1.37.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share 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 during the quarter, compared to analyst estimates of $141.29 million. During the same period last year, the company posted $0.39 EPS. The business's quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 EPS 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.