Piedmont Realty Trust, Inc. (NYSE:PDM – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $8.69 and traded as high as $9.03. Piedmont Realty Trust shares last traded at $8.9250, with a volume of 3,150,262 shares.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on PDM. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a research report on Monday, June 15th. JPMorgan Chase & Co. increased their target price on Piedmont Realty Trust from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Weiss Ratings cut Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. Finally, Robert W. Baird upped their price objective on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Piedmont Realty Trust currently has an average rating of “Hold” and an average price target of $10.67.
Get Our Latest Research Report on Piedmont Realty Trust
Piedmont Realty Trust Stock Up 3.3%
Piedmont Realty Trust (NYSE:PDM – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $144.12 million during the quarter, compared to analysts’ expectations 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, analysts predict that Piedmont Realty Trust, Inc. will post 1.52 EPS for the current fiscal year.
Institutional Trading of Piedmont Realty Trust
Several large investors have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. grew its stake in shares of 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 buying an additional 812,700 shares in the last quarter. Wilsey Asset Management Inc. grew its position in Piedmont Realty Trust by 0.3% in the second quarter. Wilsey Asset Management Inc. now owns 4,909,232 shares of the real estate investment trust’s stock valued at $44,919,000 after acquiring an additional 16,682 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Piedmont Realty Trust by 16.5% during the second quarter. Wellington Management Group LLP now owns 3,350,794 shares of the real estate investment trust’s stock valued at $30,660,000 after purchasing an additional 474,144 shares during the period. Centersquare Investment Management LLC lifted its position in shares of 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 purchasing an additional 2,080,658 shares in the last quarter. Finally, Donald Smith & CO. Inc. purchased a new position in shares of Piedmont Realty Trust in the second quarter valued at $17,788,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.
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.
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