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

Two Sigma Investments LP boosted its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 757,469 shares of the real estate investment trust's stock after buying an additional 80,648 shares during the period. Two Sigma Investments LP owned 0.61% of Piedmont Office Realty Trust worth $6,931,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of Piedmont Office Realty Trust by 809.2% in the 4th 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 during the last quarter. Harbour Investments Inc. boosted its holdings in Piedmont Office Realty Trust by 25.4% in 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 during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Piedmont Office Realty Trust during the fourth quarter valued at $59,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter valued at about $76,000. Finally, Xponance Inc. bought a new position in Piedmont Office Realty Trust in the fourth quarter worth approximately $95,000. 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 purchased 16,850 shares of the company's stock in a transaction on Thursday, May 1st. The stock was acquired at an average cost of $5.95 per share, for a total transaction of $100,257.50. Following the completion of the transaction, the chief financial officer now directly owns 16,850 shares in the company, 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 SEC, which is available at this link. 0.93% of the stock is owned by company insiders.

Piedmont Office Realty Trust Stock Down 2.1%

Piedmont Office Realty Trust stock traded down $0.16 during mid-day trading on Friday, reaching $7.10. 165,389 shares of the company were exchanged, compared to its average volume of 900,019. The firm has a market cap of $882.67 million, a P/E ratio of -11.29 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.22 and a current ratio of 2.10. Piedmont Office Realty Trust, Inc. has a 12-month low of $5.46 and a 12-month high of $11.12. The business has a fifty day moving average of $6.70 and a 200 day moving average of $7.87.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating 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 company had revenue of $136.06 million for the quarter, compared to analyst estimates of $141.29 million. During the same period in the prior year, the company posted $0.39 EPS. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on PDM shares. 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. Robert W. Baird decreased their target price 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 lowered their price target on 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.

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.