Piedmont Realty Trust, Inc. $PDM Stock Holdings Increased by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 1.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,418,028 shares of the real estate investment trust’s stock after acquiring an additional 46,198 shares during the quarter. Geode Capital Management LLC owned about 2.75% of Piedmont Realty Trust worth $24,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ameritas Advisory Services LLC bought a new stake in shares of Piedmont Realty Trust during the second quarter valued at about $36,000. Wolverine Asset Management LLC acquired a new position in Piedmont Realty Trust during the 1st quarter valued at about $48,000. New Age Alpha Advisors LLC acquired a new position in Piedmont Realty Trust during the 1st quarter valued at about $71,000. Arkadios Wealth Advisors raised its position in shares of Piedmont Realty Trust by 13.0% during the 1st quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 1,500 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Piedmont Realty Trust in the 2nd quarter worth approximately $127,000. Institutional investors own 84.48% of the company’s stock.

Piedmont Realty Trust Trading Down 0.3%

Shares of NYSE PDM opened at $8.74 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.43. Piedmont Realty Trust, Inc. has a 12 month low of $5.46 and a 12 month high of $9.80. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -15.33 and a beta of 1.48. The business has a fifty day simple moving average of $8.41 and a 200-day simple moving average of $7.92.

Piedmont Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Piedmont Realty Trust had a negative return on equity of 4.51% and a negative net margin of 12.44%.The firm had revenue of $110.75 million for the quarter, compared to analysts’ expectations of $141.46 million. During the same quarter last year, the business posted $0.36 EPS. Piedmont Realty Trust’s revenue was down .1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Sell-side analysts predict that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Wall Street Zen upgraded Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Piedmont Realty Trust has a consensus rating of “Hold” and an average price target of $9.00.

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.