Donald Smith & CO. Inc. Purchases New Shares in Piedmont Realty Trust, Inc. $PDM

Donald Smith & CO. Inc. purchased a new position in Piedmont Realty Trust, Inc. (NYSE:PDM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,944,080 shares of the real estate investment trust’s stock, valued at approximately $17,788,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centersquare Investment Management LLC lifted its stake in Piedmont Realty Trust by 154.3% during the fourth quarter. Centersquare Investment Management LLC now owns 3,429,364 shares of the real estate investment trust’s stock valued at $28,601,000 after buying an additional 2,080,658 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Piedmont Realty Trust by 368.8% in the second quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust’s stock worth $14,262,000 after acquiring an additional 1,609,919 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of Piedmont Realty Trust by 13.8% during the fourth quarter. Cohen & Steers Inc. now owns 6,698,202 shares of the real estate investment trust’s stock valued at $55,863,000 after acquiring an additional 812,700 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Piedmont Realty Trust during the fourth quarter valued at approximately $5,469,000. Finally, Wilsey Asset Management Inc. raised its holdings in shares of Piedmont Realty Trust by 15.4% during the first quarter. Wilsey Asset Management Inc. now owns 4,892,550 shares of the real estate investment trust’s stock valued at $32,144,000 after acquiring an additional 651,648 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a research note on Monday, June 15th. Robert W. Baird boosted their target price on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Finally, Weiss Ratings lowered Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.50.

Piedmont Realty Trust Trading Down 0.5%

Shares of NYSE PDM opened at $9.68 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.53. Piedmont Realty Trust, Inc. has a one year low of $6.32 and a one year high of $10.13. The business has a 50-day moving average price of $9.47 and a two-hundred day moving average price of $8.37. The firm has a market capitalization of $1.21 billion, a PE ratio of -14.89 and a beta of 1.35.

Piedmont Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $144.12 million during the quarter, compared to analyst estimates of $133.68 million. Piedmont Realty Trust had a negative net margin of 14.18% and a negative return on equity of 5.39%. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. As a group, analysts predict that Piedmont Realty Trust, Inc. will post 1.52 earnings per share for the current fiscal year.

Piedmont Realty Trust Profile

Piedmont Realty Trust is a real estate investment trust (REIT) headquartered in Atlanta, Georgia, that focuses on the ownership, acquisition and management of office properties. The company’s portfolio comprises a mix of multi-tenant and single-tenant buildings, with a particular emphasis on small- to mid-size office campuses and urban infill properties. Piedmont Realty Trust structures its leases and property services to support a diversified base of tenants, including professional services firms, government agencies and technology companies.

The company’s operating model combines property management, leasing and strategic capital allocation to enhance asset value and drive income stability.