312,985 Shares in Piedmont Realty Trust, Inc. $PDM Purchased by Greenland Capital Management LP

Greenland Capital Management LP bought a new stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 312,985 shares of the real estate investment trust’s stock, valued at approximately $2,282,000.

Other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH acquired a new position in Piedmont Realty Trust in the 1st quarter valued at $522,000. Private Management Group Inc. grew its stake in Piedmont Realty Trust by 4.1% during the 1st quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust’s stock valued at $30,028,000 after acquiring an additional 160,453 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Piedmont Realty Trust by 3.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,840 shares of the real estate investment trust’s stock valued at $559,000 after acquiring an additional 2,605 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Piedmont Realty Trust by 13.0% in the 1st quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 1,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Piedmont Realty Trust by 7.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,929 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 1,781 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PDM. Truist Financial set a $9.00 price target on Piedmont Realty Trust in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.67.

Piedmont Realty Trust Trading Up 2.0%

Shares of NYSE PDM opened at $8.12 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $1.01 billion, a PE ratio of -14.25 and a beta of 1.48. Piedmont Realty Trust, Inc. has a twelve month low of $5.46 and a twelve month high of $10.02. The stock has a fifty day simple moving average of $8.48 and a 200-day simple moving average of $7.84.

Piedmont Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The business had revenue of $110.75 million during the quarter, compared to analyst estimates of $141.46 million. During the same quarter last year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. On average, equities analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

About Piedmont 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.