Piedmont Realty Trust (NYSE:PDM) Stock Rating Upgraded by Zacks Research

Piedmont Realty Trust (NYSE:PDM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

A number of other research firms also recently weighed in on PDM. JPMorgan Chase & Co. raised their price target on Piedmont Realty Trust from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Weiss Ratings cut Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. 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 report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.67.

Piedmont Realty Trust Price Performance

Shares of Piedmont Realty Trust stock traded up $0.06 on Thursday, hitting $9.09. 1,402,425 shares of the company traded hands, compared to its average volume of 1,535,376. The firm’s 50-day simple moving average is $9.36 and its 200 day simple moving average is $8.87. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.53. The company has a market cap of $1.14 billion, a P/E ratio of -13.98 and a beta of 1.39. Piedmont Realty Trust has a 12-month low of $6.32 and a 12-month high of $10.13.

Piedmont Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%. The company had revenue of $144.12 million for the quarter, compared to the consensus estimate of $133.68 million. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. Analysts expect that Piedmont Realty Trust will post 1.53 earnings per share for the current fiscal year.

Insider Activity at Piedmont Realty Trust

In other news, CFO Sherry Rexroad sold 4,446 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $8.81, for a total value of $39,169.26. Following the completion of the sale, the chief financial officer directly owned 53,857 shares in the company, valued at approximately $474,480.17. The trade was a 7.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Piedmont Realty Trust

A number of institutional investors have recently made changes to their positions in PDM. Donald Smith & CO. Inc. bought a new position in shares of Piedmont Realty Trust during the 2nd quarter valued at $17,788,000. Wilsey Asset Management Inc. raised its position in Piedmont Realty Trust by 15.4% in the 1st quarter. Wilsey Asset Management Inc. now owns 4,892,550 shares of the real estate investment trust’s stock worth $32,144,000 after purchasing an additional 651,648 shares during the period. Punch & Associates Investment Management Inc. bought a new stake in Piedmont Realty Trust in the first quarter worth $3,614,000. Bank of New York Mellon Corp bought a new stake in Piedmont Realty Trust in the second quarter worth $4,975,000. Finally, Bessemer Group Inc. lifted its stake in Piedmont Realty Trust by 63,822.3% in the first quarter. Bessemer Group Inc. now owns 474,943 shares of the real estate investment trust’s stock worth $3,120,000 after purchasing an additional 474,200 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is a self-managed real estate investment trust that owns, develops, acquires, leases and manages commercial office properties. The company focuses primarily on high-quality office buildings in major U.S. markets.

Piedmont’s portfolio has historically been concentrated in the Sun Belt, with properties in markets such as Atlanta, Boston, Dallas, Los Angeles, New York, Orlando and Washington, DC Its properties serve businesses across a range of industries and typically include office space, parking and related tenant amenities.

The company generates revenue mainly by leasing office space to corporate and institutional tenants.