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

Shares of Piedmont Realty Trust, Inc. (NYSE:PDM) have been assigned an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.00.

Several equities analysts recently commented on the company. Truist Financial increased their target price on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Wednesday, October 8th.

Institutional Trading of Piedmont Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDM. Wilsey Asset Management Inc. lifted its position in shares of Piedmont Realty Trust by 4.4% during the 4th quarter. Wilsey Asset Management Inc. now owns 4,240,902 shares of the real estate investment trust’s stock worth $35,369,000 after buying an additional 179,001 shares during the last quarter. LSV Asset Management raised its stake in Piedmont Realty Trust by 0.6% during the 3rd quarter. LSV Asset Management now owns 4,095,654 shares of the real estate investment trust’s stock worth $36,861,000 after acquiring an additional 23,925 shares in the last quarter. Geode Capital Management LLC lifted its position in Piedmont Realty Trust by 1.4% in the second quarter. Geode Capital Management LLC now owns 3,418,028 shares of the real estate investment trust’s stock valued at $24,920,000 after acquiring an additional 46,198 shares during the last quarter. Wellington Management Group LLP boosted its stake in Piedmont Realty Trust by 8.1% in the third quarter. Wellington Management Group LLP now owns 3,322,045 shares of the real estate investment trust’s stock valued at $29,898,000 after acquiring an additional 248,993 shares in the last quarter. Finally, Hudson Bay Capital Management LP boosted its stake in Piedmont Realty Trust by 6.7% in the third 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 acquiring an additional 201,764 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Realty Trust Stock Up 0.9%

PDM stock opened at $8.48 on Friday. The company’s 50 day moving average price is $8.37 and its 200 day moving average price is $8.21. 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 has a fifty-two week low of $5.46 and a fifty-two week high of $9.19. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -14.87 and a beta of 1.26.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The company had revenue of $110.75 million during the quarter, compared to the consensus estimate of $141.46 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate that Piedmont Realty Trust will post 1.41 EPS for the current fiscal year.

Piedmont Realty Trust Company Profile

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.