Piedmont Realty Trust (NYSE:PDM) Sees Large Volume Increase – Still a Buy?

Shares of Piedmont Realty Trust, Inc. (NYSE:PDM) saw unusually-high trading volume on Tuesday . Approximately 6,284,057 shares changed hands during trading, an increase of 484% from the previous session’s volume of 1,076,832 shares.The stock last traded at $9.4550 and had previously closed at $9.20.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PDM shares. Weiss Ratings cut shares of Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Piedmont Realty Trust from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Truist Financial reissued a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a research report on Monday, June 15th. Finally, Robert W. Baird upped their price objective on Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.67.

Piedmont Realty Trust Trading Up 3.0%

The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $1.19 billion, a PE ratio of -14.58 and a beta of 1.36. The stock has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $8.53.

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

Institutional Trading of Piedmont Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PDM. Punch & Associates Investment Management Inc. bought a new stake in shares of Piedmont Realty Trust during the 1st quarter valued at $3,614,000. Bessemer Group Inc. increased its stake in Piedmont Realty Trust by 63,822.3% in the 1st quarter. Bessemer Group Inc. now owns 474,943 shares of the real estate investment trust’s stock worth $3,120,000 after buying an additional 474,200 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in Piedmont Realty Trust by 17.6% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 819,238 shares of the real estate investment trust’s stock valued at $6,832,000 after acquiring an additional 122,346 shares during the period. Donald Smith & CO. Inc. purchased a new position in shares of Piedmont Realty Trust in the second quarter valued at about $17,788,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Piedmont Realty Trust in the second quarter valued at about $1,357,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

About Piedmont Realty Trust

Piedmont Office Realty Trust, Inc is a self-managed real estate investment trust that owns, leases and manages primarily Class A office properties. The company provides office space and related property services to corporate and institutional tenants, with an emphasis on well-located buildings in major U.S. business markets.

Piedmont’s portfolio has historically been concentrated in Sun Belt and other strategic office markets, including Atlanta, Boston, Dallas, Northern Virginia, Orlando, Southern California and the Washington, DC, area.