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

Piedmont Realty Trust, Inc. (NYSE:PDM) has been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.6667.

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. Wall Street Zen raised Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, Truist Financial set a $9.00 price target on Piedmont Realty Trust in a research note on Tuesday.

Hedge Funds Weigh In On Piedmont Realty Trust

Several large investors have recently modified their holdings of PDM. Wilsey Asset Management Inc. lifted its stake in Piedmont Realty Trust by 2.6% during the 2nd quarter. Wilsey Asset Management Inc. now owns 4,115,288 shares of the real estate investment trust’s stock worth $30,000,000 after acquiring an additional 103,658 shares in the last quarter. Private Management Group Inc. lifted its stake in Piedmont Realty Trust by 4.1% during the 1st quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust’s stock worth $30,028,000 after acquiring an additional 160,453 shares in the last quarter. Geode Capital Management LLC lifted its stake in Piedmont Realty Trust by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,418,028 shares of the real estate investment trust’s stock worth $24,920,000 after acquiring an additional 46,198 shares in the last quarter. Hudson Bay Capital Management LP lifted its stake in Piedmont Realty Trust by 34.9% during the 2nd quarter. Hudson Bay Capital Management LP now owns 3,013,575 shares of the real estate investment trust’s stock worth $21,969,000 after acquiring an additional 780,050 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Piedmont Realty Trust by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 2,134,947 shares of the real estate investment trust’s stock worth $15,735,000 after acquiring an additional 28,088 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Realty Trust Stock Performance

NYSE PDM opened at $8.07 on Tuesday. The stock’s fifty day moving average is $8.54 and its two-hundred day moving average is $7.69. The firm has a market capitalization of $1.00 billion, a P/E ratio of -14.15 and a beta of 1.52. 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 fifty-two week low of $5.46 and a fifty-two week high of $10.72.

Piedmont Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Piedmont Realty Trust had a negative return on equity of 4.51% and a negative net margin of 12.44%.The business had revenue of $110.75 million for the quarter, compared to analyst estimates of $141.46 million. During the same quarter in the prior year, the company posted $0.36 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. On average, research analysts anticipate that Piedmont Realty Trust will post 1.41 earnings per share for the current year.

About Piedmont Realty Trust

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.