Piedmont Realty Trust, Inc. (NYSE:PDM) Given Consensus Rating of “Hold” by Analysts

Piedmont Realty Trust, Inc. (NYSE:PDM) has earned an average recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.00.

PDM has been the topic of several research reports. Truist Financial upped their target price on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Piedmont Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd.

Piedmont Realty Trust Stock Performance

Shares of Piedmont Realty Trust stock opened at $8.78 on Wednesday. The firm has a market capitalization of $1.09 billion, a P/E ratio of -15.41 and a beta of 1.26. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average price of $8.32 and a 200 day moving average price of $8.08. Piedmont Realty Trust has a 52 week low of $5.46 and a 52 week high of $9.49.

Piedmont Realty Trust (NYSE:PDM) last released its earnings results on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping 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 company had revenue of $110.75 million for the quarter, compared to the consensus estimate of $141.46 million. During the same quarter in the previous year, the firm earned $0.36 EPS. Piedmont Realty Trust’s revenue 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. Sell-side analysts expect that Piedmont Realty Trust will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Piedmont Realty Trust

A number of institutional investors have recently bought and sold shares of the business. Wilsey Asset Management Inc. boosted its holdings in shares of Piedmont Realty Trust by 2.6% in the 2nd quarter. Wilsey Asset Management Inc. now owns 4,115,288 shares of the real estate investment trust’s stock valued at $30,000,000 after acquiring an additional 103,658 shares during the last quarter. LSV Asset Management lifted its position in Piedmont Realty Trust by 0.6% during the third quarter. LSV Asset Management now owns 4,095,654 shares of the real estate investment trust’s stock valued at $36,861,000 after purchasing an additional 23,925 shares during the period. Geode Capital Management LLC boosted its holdings in Piedmont Realty Trust by 1.4% in the second quarter. Geode Capital Management LLC now owns 3,418,028 shares of the real estate investment trust’s stock valued at $24,920,000 after purchasing an additional 46,198 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Piedmont Realty Trust by 8.1% in the third quarter. Wellington Management Group LLP now owns 3,322,045 shares of the real estate investment trust’s stock valued at $29,898,000 after purchasing an additional 248,993 shares during the last quarter. Finally, Hudson Bay Capital Management LP grew its position in Piedmont Realty Trust by 6.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 3,215,339 shares of the real estate investment trust’s stock worth $28,938,000 after purchasing an additional 201,764 shares during the period. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Realty Trust Company 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.