Piedmont Realty Trust, Inc. $PDM Shares Acquired by Vident Advisory LLC

Vident Advisory LLC raised its position in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,787 shares of the real estate investment trust’s stock after acquiring an additional 4,296 shares during the quarter. Vident Advisory LLC’s holdings in Piedmont Realty Trust were worth $286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PDM. Nuveen LLC purchased a new position in Piedmont Realty Trust in the first quarter worth approximately $5,764,000. Wellington Management Group LLP boosted its holdings in Piedmont Realty Trust by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust’s stock valued at $19,278,000 after purchasing an additional 546,242 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Piedmont Realty Trust by 48.0% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust’s stock valued at $9,013,000 after purchasing an additional 396,923 shares during the period. Man Group plc boosted its holdings in Piedmont Realty Trust by 535.6% in the fourth quarter. Man Group plc now owns 419,232 shares of the real estate investment trust’s stock valued at $3,836,000 after purchasing an additional 353,276 shares during the period. Finally, Systematic Financial Management LP boosted its position in shares of Piedmont Realty Trust by 20.6% during the 1st quarter. Systematic Financial Management LP now owns 1,446,437 shares of the real estate investment trust’s stock worth $10,660,000 after acquiring an additional 247,171 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Realty Trust Trading Down 2.8%

Shares of PDM opened at $8.58 on Wednesday. Piedmont Realty Trust, Inc. has a twelve month low of $5.46 and a twelve month high of $11.11. The firm has a market capitalization of $1.07 billion, a P/E ratio of -15.59 and a beta of 1.53. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.41. The stock’s fifty day simple moving average is $7.81 and its 200 day simple moving average is $7.28.

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

Analyst Upgrades and Downgrades

PDM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Piedmont Realty Trust from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Wall Street Zen raised Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, Truist Financial lowered their price objective on Piedmont Realty Trust from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, May 20th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.