Voya Investment Management LLC Sells 3,634 Shares of Piedmont Realty Trust, Inc. $PDM

Voya Investment Management LLC lessened its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 9.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,879 shares of the real estate investment trust’s stock after selling 3,634 shares during the period. Voya Investment Management LLC’s holdings in Piedmont Realty Trust were worth $257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wolverine Asset Management LLC bought a new position in shares of Piedmont Realty Trust in the 1st quarter valued at $48,000. New Age Alpha Advisors LLC bought a new position in shares of Piedmont Realty Trust in the 1st quarter valued at $71,000. Ballentine Partners LLC bought a new position in shares of Piedmont Realty Trust in the 1st quarter valued at $82,000. Arkadios Wealth Advisors increased its stake in shares of Piedmont Realty Trust by 13.0% in the 1st quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust’s stock valued at $96,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Piedmont Realty Trust in the 1st quarter valued at $134,000. Institutional investors own 84.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PDM shares. Wall Street Zen upgraded Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. JPMorgan Chase & Co. decreased their price target 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 issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.67.

Piedmont Realty Trust Price Performance

Shares of PDM opened at $8.88 on Tuesday. Piedmont Realty Trust, Inc. has a 1 year low of $5.46 and a 1 year high of $11.11. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -16.14 and a beta of 1.53. The business has a 50-day moving average of $8.20 and a 200-day moving average of $7.44.

Piedmont Realty Trust (NYSE:PDM) last issued its quarterly earnings data 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. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%.The company had revenue of $111.13 million during the quarter, compared to the consensus estimate of $141.96 million. During the same period last year, the company earned $0.37 earnings per share. The firm’s 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. As a group, equities research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

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.