Public Employees Retirement System of Ohio Buys 2,691 Shares of Piedmont Realty Trust, Inc. $PDM

Public Employees Retirement System of Ohio increased its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,945 shares of the real estate investment trust’s stock after acquiring an additional 2,691 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.15% of Piedmont Realty Trust worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PDM. Wealth Enhancement Advisory Services LLC grew its position in Piedmont Realty Trust by 4.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 36,489 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 1,479 shares during the last quarter. GAMMA Investing LLC grew 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 last quarter. Sonora Investment Management Group LLC bought a new position in Piedmont Realty Trust during the 1st quarter worth approximately $295,000. SG Americas Securities LLC grew its position in Piedmont Realty Trust by 55.1% during the 1st quarter. SG Americas Securities LLC now owns 626,950 shares of the real estate investment trust’s stock worth $4,621,000 after acquiring an additional 222,789 shares during the last quarter. Finally, Wilsey Asset Management Inc. grew its position in Piedmont Realty Trust by 1.5% during the 1st quarter. Wilsey Asset Management Inc. now owns 4,011,630 shares of the real estate investment trust’s stock worth $29,566,000 after acquiring an additional 58,088 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PDM shares. JPMorgan Chase & Co. dropped their price objective on Piedmont Realty Trust from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, June 13th. Wall Street Zen upgraded Piedmont Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.67.

Piedmont Realty Trust Trading Up 0.1%

PDM opened at $8.74 on Friday. The stock has a market cap of $1.09 billion, a PE ratio of -15.88 and a beta of 1.52. 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 business has a 50 day moving average of $8.31 and a 200-day moving average of $7.49. Piedmont Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $11.11.

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