Vanguard Group Inc. Reduces Holdings in Piedmont Realty Trust, Inc. $PDM

Vanguard Group Inc. reduced its holdings in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,249,897 shares of the real estate investment trust’s stock after selling 59,614 shares during the quarter. Vanguard Group Inc. owned approximately 15.47% of Piedmont Realty Trust worth $141,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in Piedmont Realty Trust during the 4th quarter valued at about $663,000. Private Management Group Inc. grew its holdings in shares of Piedmont Realty Trust by 4.1% during the first quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust’s stock worth $30,028,000 after buying an additional 160,453 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Piedmont Realty Trust during the fourth quarter worth about $1,313,000. GAMMA Investing LLC grew its holdings in shares of Piedmont Realty Trust by 540.9% during the first quarter. GAMMA Investing LLC now owns 23,636 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 19,948 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in shares of Piedmont Realty Trust by 46.5% during the fourth quarter. BROOKFIELD Corp ON now owns 1,033,232 shares of the real estate investment trust’s stock worth $9,454,000 after buying an additional 327,982 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDM has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Piedmont Realty Trust from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, June 13th. Truist Financial lowered their price target on shares of Piedmont Realty Trust from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, May 20th. Finally, Wall Street Zen downgraded shares of Piedmont Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.67.

Piedmont Realty Trust Price Performance

PDM opened at $7.8750 on Thursday. The company’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $7.24. 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 1 year low of $5.46 and a 1 year high of $11.11. The stock has a market capitalization of $980.47 million, a PE ratio of -14.32 and a beta of 1.46.

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

Piedmont Realty Trust Company 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.