Piedmont Realty Trust, Inc. $PDM Shares Bought by Creative Planning

Creative Planning boosted its stake in Piedmont Realty Trust, Inc. (NYSE:PDM) by 148.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,710 shares of the real estate investment trust’s stock after purchasing an additional 58,357 shares during the period. Creative Planning owned approximately 0.08% of Piedmont Realty Trust worth $712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PDM. SG Americas Securities LLC increased its stake in Piedmont Realty Trust by 4.9% during the 2nd quarter. SG Americas Securities LLC now owns 657,789 shares of the real estate investment trust’s stock worth $4,795,000 after buying an additional 30,839 shares during the period. Geode Capital Management LLC increased its position in shares of Piedmont Realty Trust by 1.4% during the second quarter. Geode Capital Management LLC now owns 3,418,028 shares of the real estate investment trust’s stock worth $24,920,000 after acquiring an additional 46,198 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Piedmont Realty Trust in the second quarter valued at about $127,000. Metis Global Partners LLC boosted its holdings in Piedmont Realty Trust by 30.5% in the second quarter. Metis Global Partners LLC now owns 20,526 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Savant Capital LLC increased its holdings in Piedmont Realty Trust by 55.0% during the 2nd quarter. Savant Capital LLC now owns 27,454 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 9,739 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Realty Trust Trading Down 0.7%

Piedmont Realty Trust stock opened at $8.66 on Wednesday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -15.18 and a beta of 1.26. Piedmont Realty Trust, Inc. has a 1 year low of $5.46 and a 1 year high of $9.55. The firm’s 50 day moving average price is $8.40 and its two-hundred day moving average price is $7.96. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.67 and a current ratio of 1.67.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping 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 4.51% and a negative net margin of 12.44%.The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. On average, research analysts predict that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PDM has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. Truist Financial lifted 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. Finally, Wall Street Zen raised Piedmont Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. One equities 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. Based on data from MarketBeat.com, Piedmont Realty Trust currently has an average rating of “Hold” and a consensus price target of $9.00.

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.