Piedmont Realty Trust (NYSE:PDM) CFO Sells $39,169.26 in Stock

Piedmont Realty Trust, Inc. (NYSE:PDM) CFO Sherry Rexroad sold 4,446 shares of Piedmont Realty Trust stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $8.81, for a total value of $39,169.26. Following the completion of the transaction, the chief financial officer directly owned 53,857 shares in the company, valued at $474,480.17. This represents a 7.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Piedmont Realty Trust Trading Up 2.2%

PDM stock traded up $0.20 during mid-day trading on Friday, reaching $9.01. 1,106,442 shares of the stock traded hands, compared to its average volume of 1,153,567. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.53. Piedmont Realty Trust, Inc. has a 52-week low of $6.32 and a 52-week high of $10.13. The company has a market cap of $1.13 billion, a P/E ratio of -13.85 and a beta of 1.39. The stock’s fifty day moving average is $9.51 and its 200-day moving average is $8.70.

Piedmont Realty Trust (NYSE:PDM) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $144.12 million during the quarter, compared to analyst estimates of $133.68 million. Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%.Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. As a group, sell-side analysts expect that Piedmont Realty Trust, Inc. will post 1.52 earnings per share for the current year.

Institutional Trading of Piedmont Realty Trust

Several institutional investors have recently made changes to their positions in the stock. DGS Capital Management LLC boosted its stake in shares of Piedmont Realty Trust by 9.5% during the 1st quarter. DGS Capital Management LLC now owns 15,980 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 1,381 shares during the period. Tidal Investments LLC increased its stake in shares of Piedmont Realty Trust by 8.3% in the second quarter. Tidal Investments LLC now owns 26,594 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 2,044 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Piedmont Realty Trust by 5.5% in the first quarter. Lazard Asset Management LLC now owns 74,236 shares of the real estate investment trust’s stock worth $488,000 after acquiring an additional 3,856 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in shares of Piedmont Realty Trust by 8.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 56,293 shares of the real estate investment trust’s stock worth $366,000 after acquiring an additional 4,467 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Piedmont Realty Trust by 93.9% during the fourth quarter. Global Retirement Partners LLC now owns 9,334 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 4,519 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDM has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. increased their target price on Piedmont Realty Trust from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Weiss Ratings cut Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, July 30th. Finally, Truist Financial reiterated a “buy” rating and set a $11.00 price target (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.67.

About Piedmont Realty Trust

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.