Piedmont Realty Trust, Inc. $PDM Position Increased by Nordea Investment Management AB

Nordea Investment Management AB raised its position in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 0.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 744,743 shares of the real estate investment trust’s stock after buying an additional 1,517 shares during the quarter. Nordea Investment Management AB’s holdings in Piedmont Realty Trust were worth $5,407,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in Piedmont Realty Trust during the second quarter valued at about $36,000. Wolverine Asset Management LLC purchased a new stake in shares of Piedmont Realty Trust in the first quarter worth approximately $48,000. New Age Alpha Advisors LLC purchased a new stake in shares of Piedmont Realty Trust in the first quarter worth approximately $71,000. Ballentine Partners LLC purchased a new stake in shares of Piedmont Realty Trust in the first quarter worth approximately $82,000. Finally, Arkadios Wealth Advisors lifted its position in shares of Piedmont Realty Trust by 13.0% in the first quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 1,500 shares in the last quarter. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Realty Trust Price Performance

Shares of PDM opened at $8.35 on Wednesday. The firm has a market cap of $1.04 billion, a PE ratio of -15.17 and a beta of 1.52. The firm’s 50 day moving average price is $8.47 and its 200 day moving average price is $7.57. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.67 and a current ratio of 1.67. Piedmont Realty Trust, Inc. has a twelve month low of $5.46 and a twelve month high of $10.89.

Piedmont Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $111.13 million for the quarter, compared to analyst estimates of $141.96 million. Piedmont Realty Trust had a negative net margin of 12.10% and a negative return on equity of 4.32%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. As a group, research analysts expect that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PDM. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.67.

Piedmont Realty Trust Profile

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.