Piedmont Office Realty Trust's stock plummeted 5.07% during intraday trading on Thursday.

The decline followed the company's release of its fourth-quarter financial results, which showed core funds from operations (FFO) of $0.35 per diluted share, down from $0.37 in the same period a year earlier. Revenue for the quarter also decreased to $142.9 million from $143.2 million a year ago.

While the core FFO met analyst expectations, the year-over-year decline in both metrics likely contributed to negative investor sentiment, leading to the stock's sharp drop.