IFM Investors Pty Ltd Decreases Position in Piedmont Realty Trust, Inc. $PDM

IFM Investors Pty Ltd cut its stake in Piedmont Realty Trust, Inc. (NYSE:PDM) by 13.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,800 shares of the real estate investment trust’s stock after selling 3,835 shares during the quarter. IFM Investors Pty Ltd’s holdings in Piedmont Realty Trust were worth $183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolverine Asset Management LLC purchased a new position in Piedmont Realty Trust in the 1st quarter valued at about $48,000. Point72 Hong Kong Ltd purchased a new position in Piedmont Realty Trust in the 4th quarter valued at about $59,000. New Age Alpha Advisors LLC purchased a new position in Piedmont Realty Trust in the 1st quarter valued at about $71,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Piedmont Realty Trust in the 4th quarter valued at about $76,000. Finally, Ballentine Partners LLC purchased a new position in Piedmont Realty Trust in the 1st quarter valued at about $82,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Realty Trust Stock Up 0.9%

Shares of NYSE PDM opened at $8.86 on Friday. The company has a 50 day simple moving average of $7.89 and a 200-day simple moving average of $7.32. The company has a market capitalization of $1.10 billion, a P/E ratio of -16.10 and a beta of 1.53. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.67 and a quick ratio of 1.67. Piedmont Realty Trust, Inc. has a 1 year low of $5.46 and a 1 year high of $11.11.

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, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $111.13 million during the quarter, compared to the consensus estimate 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 business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. On average, equities research analysts predict that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

PDM has been the topic of a number of research reports. Truist Financial decreased their target price on shares of Piedmont Realty Trust from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Piedmont Realty Trust from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.67.

About Piedmont Realty Trust

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.