Piedmont Realty Trust, Inc. (NYSE:PDM) Short Interest Update

Piedmont Realty Trust, Inc. (NYSE:PDM) saw a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 3,252,183 shares, a decline of 20.1% from the January 15th total of 4,070,326 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 774,817 shares, the days-to-cover ratio is presently 4.2 days. Based on an average daily trading volume, of 774,817 shares, the days-to-cover ratio is presently 4.2 days. Approximately 2.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PDM. Advisory Services Network LLC acquired a new stake in Piedmont Realty Trust in the 3rd quarter valued at approximately $30,000. Kestra Advisory Services LLC acquired a new stake in shares of Piedmont Realty Trust in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of Piedmont Realty Trust by 214.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 3,005 shares during the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of Piedmont Realty Trust by 629.0% in the second quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 6,718 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Piedmont Realty Trust by 79.6% during the third quarter. Farther Finance Advisors LLC now owns 7,444 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 3,299 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Thursday, January 22nd. Truist Financial lifted their price target on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Piedmont Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Piedmont Realty Trust Stock Up 5.1%

PDM stock traded up $0.40 during mid-day trading on Monday, hitting $8.22. 1,424,320 shares of the company were exchanged, compared to its average volume of 872,594. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.67 and a current ratio of 1.67. Piedmont Realty Trust has a 1-year low of $5.46 and a 1-year high of $9.19. The firm’s 50 day simple moving average is $8.42 and its 200 day simple moving average is $8.37. The firm has a market cap of $1.02 billion, a P/E ratio of -12.08 and a beta of 1.26.

Piedmont Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $111.99 million during the quarter, compared to the consensus estimate of $139.39 million. Piedmont Realty Trust had a negative net margin of 14.80% and a negative return on equity of 5.40%. On average, sell-side analysts predict that Piedmont Realty Trust will post 1.41 EPS 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.