DC Investments Management LLC Trims Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

DC Investments Management LLC reduced its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 731,981 shares of the real estate investment trust's stock after selling 185,109 shares during the period. Piedmont Office Realty Trust makes up about 4.4% of DC Investments Management LLC's investment portfolio, making the stock its 5th biggest holding. DC Investments Management LLC owned approximately 0.59% of Piedmont Office Realty Trust worth $6,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC raised its stake in Piedmont Office Realty Trust by 88.7% during the third quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock worth $2,398,000 after acquiring an additional 111,596 shares during the period. Jump Financial LLC bought a new stake in shares of Piedmont Office Realty Trust in the 4th quarter worth approximately $663,000. JPMorgan Chase & Co. boosted its position in Piedmont Office Realty Trust by 45.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust's stock valued at $15,501,000 after purchasing an additional 478,560 shares during the period. Raymond James Financial Inc. bought a new position in Piedmont Office Realty Trust during the 4th quarter worth $1,313,000. Finally, Franklin Resources Inc. lifted its stake in Piedmont Office Realty Trust by 72.5% in 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 buying an additional 62,233 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PDM shares. Baird R W lowered shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. StockNews.com raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, February 17th. Robert W. Baird lowered their price target 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, Truist Financial reaffirmed a "buy" rating and set a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th.

Piedmont Office Realty Trust Stock Performance

PDM stock traded down $0.05 during mid-day trading on Tuesday, reaching $6.94. 283,664 shares of the stock traded hands, compared to its average volume of 885,764. 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 quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $863.39 million, a PE ratio of -11.02 and a beta of 1.37. The business has a 50-day moving average of $6.82 and a two-hundred day moving average of $8.14.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate 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 company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. As a group, equities analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Insider Activity at Piedmont Office Realty Trust

In other news, CFO Sherry L. Rexroad purchased 16,850 shares of the business's stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $5.95 per share, with a total value of $100,257.50. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.29% of the stock is owned by corporate insiders.

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.