UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 42,158 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 853,833 shares of the real estate investment trust's stock after selling 42,158 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.69% of Piedmont Office Realty Trust worth $7,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vision Capital Corp raised 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 worth $32,270,000 after buying an additional 1,389,477 shares during the period. Hudson Bay Capital Management LP increased its holdings in shares of Piedmont Office Realty Trust by 58.8% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,281,624 shares of the real estate investment trust's stock valued at $20,877,000 after acquiring an additional 845,098 shares during the period. Helix Partners Management LP acquired a new position in Piedmont Office Realty Trust during the 4th quarter valued at about $6,405,000. Prudential Financial Inc. increased its stake in shares of Piedmont Office Realty Trust by 34.6% in the fourth quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust's stock worth $24,882,000 after acquiring an additional 699,339 shares during the period. Finally, Norges Bank purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter worth about $5,106,000. Institutional investors own 84.48% of the company's stock.

Analyst Ratings Changes

PDM has been the topic of several analyst reports. Wall Street Zen raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Robert W. Baird decreased their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Finally, Truist Financial cut their price target on Piedmont Office Realty Trust from $10.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday, May 20th.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE PDM traded up $0.06 during trading hours on Thursday, hitting $7.45. 711,059 shares of the company's stock were exchanged, compared to its average volume of 906,075. 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 current ratio of 2.10 and a quick ratio of 2.22. The stock has a market capitalization of $926.22 million, a price-to-earnings ratio of -11.82 and a beta of 1.37. The company's 50-day moving average price is $6.70 and its 200-day moving average price is $7.79.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The company 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 return on equity of 4.82% and a negative net margin of 13.86%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. On average, sell-side analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Piedmont Office Realty Trust

In related news, CFO Sherry L. Rexroad bought 16,850 shares of Piedmont Office Realty Trust stock in a transaction dated Thursday, May 1st. The stock was purchased at an average cost of $5.95 per share, with a total value of $100,257.50. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.29% of the company's stock.

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.