Hudson Bay Capital Management LP Raises Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Hudson Bay Capital Management LP lifted its stake in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 58.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,281,624 shares of the real estate investment trust's stock after acquiring an additional 845,098 shares during the quarter. Hudson Bay Capital Management LP owned approximately 1.84% of Piedmont Office Realty Trust worth $20,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PDM. Barclays PLC increased its holdings in Piedmont Office Realty Trust by 88.7% in the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock worth $2,398,000 after purchasing an additional 111,596 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Piedmont Office Realty Trust by 72.5% during the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust's stock valued at $1,519,000 after acquiring an additional 62,233 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Piedmont Office Realty Trust by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust's stock valued at $15,501,000 after acquiring an additional 478,560 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $105,000. Finally, SG Americas Securities LLC increased its holdings in shares of Piedmont Office Realty Trust by 0.8% during the fourth quarter. SG Americas Securities LLC now owns 404,161 shares of the real estate investment trust's stock valued at $3,698,000 after acquiring an additional 3,184 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors.

Piedmont Office Realty Trust Stock Up 2.0%

Piedmont Office Realty Trust stock traded up $0.14 during trading on Friday, hitting $7.04. 1,414,269 shares of the company were exchanged, compared to its average volume of 894,289. The business's 50 day moving average is $6.79 and its 200 day moving average is $8.10. 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 market capitalization of $875.83 million, a P/E ratio of -11.17 and a beta of 1.37. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40.

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, 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 business had revenue of $136.06 million during the quarter, compared to the consensus estimate of $141.29 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. Piedmont Office Realty Trust's revenue was down 1.3% compared to the same quarter last year. Analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Insider Buying and Selling

In other Piedmont Office Realty Trust news, CFO Sherry L. Rexroad acquired 16,850 shares of the business's stock in a transaction on Thursday, May 1st. The shares were acquired at an average price of $5.95 per share, with a total value of $100,257.50. Following the completion of the transaction, the chief financial officer now owns 16,850 shares in the company, valued at approximately $100,257.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PDM shares. Robert W. Baird decreased their price objective on 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. StockNews.com upgraded Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Truist Financial restated a "buy" rating and set a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. Finally, Baird R W downgraded Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th.

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.