Piedmont Realty Trust, Inc. (NYSE:PDM) Receives $9.00 Average Price Target from Brokerages

Piedmont Realty Trust, Inc. (NYSE:PDM) has earned an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.00.

PDM has been the topic of several research analyst reports. Wall Street Zen upgraded shares of 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. Finally, Truist Financial lifted their price objective on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 24th.

Piedmont Realty Trust Stock Down 0.5%

Shares of NYSE:PDM opened at $8.37 on Wednesday. The firm has a fifty day moving average price of $8.33 and a two-hundred day moving average price of $8.09. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -14.68 and a beta of 1.26. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.67 and a quick ratio of 1.67. Piedmont Realty Trust has a one year low of $5.46 and a one year high of $9.25.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings results 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 firm had revenue of $110.75 million for the quarter, compared to analysts’ expectations of $141.46 million. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Analysts anticipate that Piedmont Realty Trust will post 1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Piedmont Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PDM. Hudson Bay Capital Management LP raised its holdings in shares of Piedmont Realty Trust by 6.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 3,215,339 shares of the real estate investment trust’s stock valued at $28,938,000 after buying an additional 201,764 shares in the last quarter. Cambria Investment Management L.P. grew its position in Piedmont Realty Trust by 15.6% during the third quarter. Cambria Investment Management L.P. now owns 77,544 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 10,475 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Piedmont Realty Trust during the third quarter worth approximately $119,000. Advisory Services Network LLC bought a new stake in shares of Piedmont Realty Trust in the 3rd quarter worth approximately $30,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Piedmont Realty Trust by 2.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 230,862 shares of the real estate investment trust’s stock valued at $2,052,000 after purchasing an additional 5,668 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

About Piedmont Realty Trust

Piedmont Realty Trust is a real estate investment trust (REIT) headquartered in Atlanta, Georgia, that focuses on the ownership, acquisition and management of office properties. The company’s portfolio comprises a mix of multi-tenant and single-tenant buildings, with a particular emphasis on small- to mid-size office campuses and urban infill properties. Piedmont Realty Trust structures its leases and property services to support a diversified base of tenants, including professional services firms, government agencies and technology companies.

The company’s operating model combines property management, leasing and strategic capital allocation to enhance asset value and drive income stability.