Piedmont Realty Trust (NYSE:PDM) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Piedmont Realty Trust, Inc. (NYSE:PDM)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.30 and traded as high as $8.52. Piedmont Realty Trust shares last traded at $8.4050, with a volume of 998,451 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial upped their price objective on shares of 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 restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.00.

Piedmont Realty Trust Price Performance

The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -14.75 and a beta of 1.26. The company’s 50 day moving average is $8.43 and its 200 day moving average is $8.30. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.67 and a quick ratio of 1.67.

Hedge Funds Weigh In On Piedmont Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in Piedmont Realty Trust in the third quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its position in shares of Piedmont Realty Trust by 214.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 3,005 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Piedmont Realty Trust in the 2nd quarter valued at about $36,000. Farther Finance Advisors LLC increased its holdings in Piedmont Realty Trust by 79.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,444 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 3,299 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in Piedmont Realty Trust by 629.0% during the second quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 6,718 shares during the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

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.