Allianz Asset Management GmbH Has $534,000 Stock Position in Piedmont Realty Trust, Inc. $PDM

Allianz Asset Management GmbH lifted its stake in Piedmont Realty Trust, Inc. (NYSE:PDM) by 3.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,194 shares of the real estate investment trust’s stock after purchasing an additional 2,318 shares during the quarter. Allianz Asset Management GmbH owned 0.06% of Piedmont Realty Trust worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PDM. Nuveen LLC acquired a new position in shares of Piedmont Realty Trust in the 1st quarter valued at $5,764,000. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Piedmont Realty Trust by 48.0% in the 1st 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. Systematic Financial Management LP boosted its position in shares of Piedmont Realty Trust by 20.6% in the 1st quarter. Systematic Financial Management LP now owns 1,446,437 shares of the real estate investment trust’s stock valued at $10,660,000 after purchasing an additional 247,171 shares during the period. Strs Ohio acquired a new position in shares of Piedmont Realty Trust in the 1st quarter valued at $1,305,000. Finally, Private Management Group Inc. boosted its position in shares of Piedmont Realty Trust by 4.1% in 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. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PDM shares. Wall Street Zen upgraded Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Piedmont Realty Trust currently has an average rating of “Hold” and a consensus target price of $8.67.

Piedmont Realty Trust Trading Up 1.3%

Shares of NYSE PDM opened at $8.54 on Tuesday. Piedmont Realty Trust, Inc. has a one year low of $5.46 and a one year high of $10.72. The firm has a market capitalization of $1.06 billion, a PE ratio of -15.52 and a beta of 1.52. 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 business has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $7.64.

Piedmont Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $110.75 million during the quarter, compared to analyst estimates of $141.46 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 was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. As a group, analysts predict that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

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.