Piedmont Realty Trust (NYSE:PDM) Sets New 52-Week High – Here’s What Happened

Piedmont Realty Trust, Inc. (NYSE:PDM) shares hit a new 52-week high during trading on Friday . The company traded as high as $9.45 and last traded at $9.4350, with a volume of 83193 shares trading hands. The stock had previously closed at $9.24.

Analysts Set New Price Targets

Several research firms have issued reports on PDM. Truist Financial restated a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. Weiss Ratings upgraded Piedmont Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, Wall Street Zen raised shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.00.

Piedmont Realty Trust Price Performance

The company has a 50 day moving average of $8.44 and a 200-day moving average of $8.03. The stock has a market capitalization of $1.16 billion, a P/E ratio of -13.31 and a beta of 1.38. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.52.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Piedmont Realty Trust had a negative return on equity of 5.70% and a negative net margin of 15.28%.The business had revenue of $143.29 million during the quarter, compared to analyst estimates of $128.67 million. Piedmont Realty Trust has set its FY 2026 guidance at 1.490-1.540 EPS. Sell-side analysts predict that Piedmont Realty Trust, Inc. will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Piedmont Realty Trust

A number of institutional investors have recently modified their holdings of PDM. Centersquare Investment Management LLC raised its stake in Piedmont Realty Trust by 154.3% during the fourth quarter. Centersquare Investment Management LLC now owns 3,429,364 shares of the real estate investment trust’s stock worth $28,601,000 after acquiring an additional 2,080,658 shares during the period. Ameriprise Financial Inc. boosted its stake in Piedmont Realty Trust by 368.8% in the second quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust’s stock valued at $14,262,000 after acquiring an additional 1,609,919 shares during the period. Cohen & Steers Inc. boosted its stake in Piedmont Realty Trust by 13.8% in the fourth quarter. Cohen & Steers Inc. now owns 6,698,202 shares of the real estate investment trust’s stock valued at $55,863,000 after acquiring an additional 812,700 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Piedmont Realty Trust during the fourth quarter valued at approximately $5,469,000. Finally, Wilsey Asset Management Inc. raised its position in shares of Piedmont Realty Trust by 15.4% during 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. Institutional investors own 84.48% of the company’s stock.

Piedmont Realty Trust Company Profile

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.