Caxton Associates LLP Increases Position in Piedmont Realty Trust, Inc. $PDM

Caxton Associates LLP increased its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 102.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,508 shares of the real estate investment trust’s stock after buying an additional 73,480 shares during the quarter. Caxton Associates LLP owned about 0.12% of Piedmont Realty Trust worth $1,061,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Piedmont Realty Trust by 214.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 3,005 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Piedmont Realty Trust during the 2nd quarter worth $36,000. Laurel Wealth Advisors LLC lifted its stake in shares of Piedmont Realty Trust by 629.0% in the second quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 6,718 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Piedmont Realty Trust by 59.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,741 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 4,015 shares in the last quarter. Finally, M&T Bank Corp boosted its position in Piedmont Realty Trust by 12.8% during the second quarter. M&T Bank Corp now owns 13,549 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 1,540 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

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

Piedmont Realty Trust Stock Up 1.5%

PDM stock opened at $8.66 on Tuesday. Piedmont Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $9.49. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -15.18 and a beta of 1.26. The business’s 50 day moving average price is $8.32 and its two-hundred day moving average price is $8.07. 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 earnings results on Monday, October 27th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $110.75 million during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. As a group, analysts forecast 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.