VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.82 Million in Piedmont Realty Trust, Inc. $PDM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Piedmont Realty Trust, Inc. (NYSE:PDM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 386,739 shares of the real estate investment trust’s stock, valued at approximately $2,819,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.31% of Piedmont Realty Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wilsey Asset Management Inc. boosted its position in shares of Piedmont Realty Trust by 2.6% in the second quarter. Wilsey Asset Management Inc. now owns 4,115,288 shares of the real estate investment trust’s stock worth $30,000,000 after buying an additional 103,658 shares during the period. Private Management Group Inc. boosted its holdings in Piedmont Realty Trust by 4.1% in the first 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 purchasing an additional 160,453 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Piedmont Realty Trust by 1.3% in the first quarter. Wellington Management Group LLP now owns 2,134,947 shares of the real estate investment trust’s stock valued at $15,735,000 after purchasing an additional 28,088 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Piedmont Realty Trust by 20.6% in the first quarter. Systematic Financial Management LP now owns 1,446,437 shares of the real estate investment trust’s stock valued at $10,660,000 after purchasing an additional 247,171 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in Piedmont Realty Trust by 48.0% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust’s stock valued at $9,013,000 after purchasing an additional 396,923 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Realty Trust Trading Up 0.9%

NYSE:PDM opened at $8.35 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $8.47 and its two-hundred day moving average is $7.57. Piedmont Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $10.89. The company has a market cap of $1.04 billion, a PE ratio of -15.17 and a beta of 1.52.

Piedmont Realty Trust (NYSE:PDM) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%.The company had revenue of $111.13 million for the quarter, compared to the consensus estimate of $141.96 million. During the same quarter last year, the business posted $0.37 EPS. Piedmont Realty Trust’s quarterly revenue was down 2.1% compared to the same quarter last year. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. On average, analysts predict that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

PDM has been the subject of a number of analyst reports. Wall Street Zen raised Piedmont Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Piedmont Realty Trust presently has a consensus rating of “Hold” and an average target price of $8.67.

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.