Piedmont Realty Trust, Inc. $PDM Holdings Decreased by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Piedmont Realty Trust, Inc. (NYSE:PDM) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 218,646 shares of the real estate investment trust’s stock after selling 9,054 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Piedmont Realty Trust worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PDM. Private Management Group Inc. boosted its position in Piedmont Realty Trust by 4.1% during the 1st quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust’s stock valued at $30,028,000 after purchasing an additional 160,453 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its position in Piedmont Realty Trust by 48.0% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust’s stock worth $9,013,000 after acquiring an additional 396,923 shares during the period. GAMMA Investing LLC boosted its position in Piedmont Realty Trust by 540.9% during the 1st quarter. GAMMA Investing LLC now owns 23,636 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 19,948 shares during the period. Deutsche Bank AG boosted its position in Piedmont Realty Trust by 23.7% during the 4th quarter. Deutsche Bank AG now owns 242,358 shares of the real estate investment trust’s stock worth $2,218,000 after acquiring an additional 46,399 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Piedmont Realty Trust by 6.1% during the 4th quarter. Ameriprise Financial Inc. now owns 818,947 shares of the real estate investment trust’s stock worth $7,497,000 after acquiring an additional 47,110 shares during the period. 84.48% of the stock is currently owned by institutional investors.

Piedmont Realty Trust Stock Up 2.7%

Shares of Piedmont Realty Trust stock opened at $8.99 on Friday. The firm has a market capitalization of $1.12 billion, a PE ratio of -16.34 and a beta of 1.53. Piedmont Realty Trust, Inc. has a 12-month low of $5.46 and a 12-month high of $11.11. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.41. The stock’s fifty day moving average is $8.00 and its 200-day moving average is $7.36.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. 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 research note on Friday, June 13th. One 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.com, Piedmont Realty Trust currently has a consensus rating of “Hold” and an average target price of $8.67.

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.