Piedmont Realty Trust, Inc. (NYSE:PDM) Given Average Recommendation of “Hold” by Brokerages

Shares of Piedmont Realty Trust, Inc. (NYSE:PDM) have been assigned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.00.

Several equities analysts recently commented on PDM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Wednesday, October 8th. Truist Financial upped their price objective on Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 24th.

Hedge Funds Weigh In On Piedmont Realty Trust

Hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in shares of Piedmont Realty Trust by 368.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust’s stock worth $14,262,000 after buying an additional 1,609,919 shares during the last quarter. Centersquare Investment Management LLC acquired a new stake in Piedmont Realty Trust during the 3rd quarter worth $12,138,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Piedmont Realty Trust by 710.2% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,201,555 shares of the real estate investment trust’s stock valued at $8,759,000 after acquiring an additional 1,053,256 shares during the last quarter. Hudson Bay Capital Management LP lifted its position in Piedmont Realty Trust by 34.9% in the second quarter. Hudson Bay Capital Management LP now owns 3,013,575 shares of the real estate investment trust’s stock valued at $21,969,000 after acquiring an additional 780,050 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in Piedmont Realty Trust by 6,504.1% in the second quarter. Wolverine Asset Management LLC now owns 433,094 shares of the real estate investment trust’s stock valued at $3,157,000 after acquiring an additional 426,536 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Realty Trust Stock Down 1.0%

Shares of NYSE:PDM opened at $8.41 on Friday. Piedmont Realty Trust has a fifty-two week low of $5.46 and a fifty-two week high of $9.19. The firm’s 50 day moving average price is $8.36 and its 200 day moving average price is $8.18. 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 stock has a market cap of $1.05 billion, a price-to-earnings ratio of -14.75 and a beta of 1.26.

Piedmont Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm posted $0.36 EPS. The company’s quarterly 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. As a group, equities research analysts predict that Piedmont Realty Trust will post 1.41 earnings per share for the current fiscal year.

About Piedmont Realty Trust

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.