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NEW YORK ( TheStreet) -- Piedmont Office Realty (NYSE: PDM) hit a new 52-week low Wednesday as it is currently trading at $16.99, below its previous 52-week low of $17 with one million shares traded as of 4:03 p.m. ET. Average volume has been 1.3 million shares over the past 30 days. Piedmont Office has a market cap of $3.1 billion and is part of the financial sector and real estate industry. Shares are down 11.2% year to date as of the close of trading on Tuesday. Piedmont Office Realty Trust, Inc. engages in the acquisition and ownership of commercial real estate properties in the United States. Its property portfolio primarily consists of office and industrial buildings, warehouses, and manufacturing facilities. The company has a P/E ratio of 24.8, below the average real estate industry P/E ratio of 25.1 and above the S&P 500 P/E ratio of 17.7.