Two Sigma Investments LP Purchases 80,648 Shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Two Sigma Investments LP boosted its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 757,469 shares of the real estate investment trust’s stock after purchasing an additional 80,648 shares during the period. Two Sigma Investments LP owned about 0.61% of Piedmont Office Realty Trust worth $6,931,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Wilsey Asset Management Inc. boosted its stake in shares of Piedmont Office Realty Trust by 2.0% during the 4th quarter. Wilsey Asset Management Inc. now owns 3,953,542 shares of the real estate investment trust’s stock worth $36,175,000 after buying an additional 77,220 shares during the last quarter. Vision Capital Corp boosted its stake in shares of Piedmont Office Realty Trust by 65.0% during the 4th 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 last quarter. Prudential Financial Inc. boosted its stake in shares of Piedmont Office Realty Trust by 34.6% during the 4th quarter. Prudential Financial Inc. now owns 2,719,332 shares of the real estate investment trust’s stock worth $24,882,000 after buying an additional 699,339 shares during the last quarter. Hudson Bay Capital Management LP boosted its stake in shares of 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 buying an additional 845,098 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Piedmont Office Realty Trust by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust’s stock worth $19,278,000 after buying an additional 546,242 shares during the last quarter. Institutional investors own 84.48% of the company’s stock.

Piedmont Office Realty Trust Trading Up 1.2%

Shares of NYSE:PDM opened at $6.53 on Monday. 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 $812.38 million, a P/E ratio of -10.37 and a beta of 1.37. The company has a 50-day simple moving average of $6.74 and a 200 day simple moving average of $7.93. 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 (NYSE:PDM) last issued 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 net margin of 13.86% and a negative return on equity of 4.82%. The business had revenue of $136.06 million during the quarter, compared to the consensus estimate of $141.29 million. During the same period last year, the business posted $0.39 EPS. Piedmont Office Realty Trust’s revenue was down 1.3% on a year-over-year basis. Sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PDM shares. Wall Street Zen upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Truist Financial reduced their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, May 20th. Finally, Robert W. Baird reduced their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, February 24th.

Insider Activity at Piedmont Office Realty Trust

In other news, CFO Sherry L. Rexroad bought 16,850 shares of the business’s stock in a transaction that occurred 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 purchase, the chief financial officer now owns 16,850 shares of the company’s stock, valued at approximately $100,257.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.29% of the stock is currently owned by company insiders.

Piedmont Office Realty Trust 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.