Piedmont Realty Trust (NYSE:PDM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Piedmont Realty Trust (NYSE:PDM) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other research analysts also recently issued reports on PDM. Truist Financial decreased their price target on Piedmont Realty Trust from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

Piedmont Realty Trust Price Performance

NYSE:PDM opened at $7.21 on Friday. The firm’s fifty day moving average is $7.33 and its two-hundred day moving average is $8.02. The firm has a market cap of $900.77 million, a price-to-earnings ratio of -10.60 and a beta of 1.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.30 and a current ratio of 1.30. Piedmont Realty Trust has a one year low of $5.46 and a one year high of $9.19.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Piedmont Realty Trust had a negative return on equity of 5.44% and a negative net margin of 14.80%.The business had revenue of $142.85 million during the quarter, compared to analyst estimates of $139.39 million. Research analysts expect that Piedmont Realty Trust will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Piedmont Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its holdings in Piedmont Realty Trust by 11.8% in the 4th quarter. Hsbc Holdings PLC now owns 184,407 shares of the real estate investment trust’s stock worth $1,538,000 after purchasing an additional 19,484 shares during the period. Andrews Advisory Associates LLC acquired a new stake in Piedmont Realty Trust in the fourth quarter valued at approximately $117,000. Inspire Investing LLC grew its holdings in Piedmont Realty Trust by 10.8% in the fourth quarter. Inspire Investing LLC now owns 55,857 shares of the real estate investment trust’s stock valued at $466,000 after purchasing an additional 5,440 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Piedmont Realty Trust in the fourth quarter valued at approximately $5,469,000. Finally, Amundi increased its position in shares of Piedmont Realty Trust by 5.0% in the fourth quarter. Amundi now owns 66,177 shares of the real estate investment trust’s stock valued at $552,000 after buying an additional 3,147 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

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.