Advisors Asset Management Inc. Purchases New Stake in Piedmont Realty Trust, Inc. $PDM

Advisors Asset Management Inc. bought a new stake in Piedmont Realty Trust, Inc. (NYSE:PDM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 69,098 shares of the real estate investment trust’s stock, valued at approximately $622,000. Advisors Asset Management Inc. owned about 0.06% of Piedmont Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of PDM. Ameriprise Financial Inc. lifted its position in Piedmont Realty Trust by 368.8% during the second quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust’s stock worth $14,262,000 after buying an additional 1,609,919 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Piedmont Realty Trust by 710.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,201,555 shares of the real estate investment trust’s stock worth $8,759,000 after buying an additional 1,053,256 shares during the period. Hudson Bay Capital Management LP lifted its stake in shares of Piedmont Realty Trust by 34.9% in the 2nd quarter. Hudson Bay Capital Management LP now owns 3,013,575 shares of the real estate investment trust’s stock valued at $21,969,000 after purchasing an additional 780,050 shares in the last quarter. Wolverine Asset Management LLC increased its position in shares of Piedmont Realty Trust by 6,504.1% in the second quarter. Wolverine Asset Management LLC now owns 433,094 shares of the real estate investment trust’s stock worth $3,157,000 after acquiring an additional 426,536 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Piedmont Realty Trust by 101.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 834,157 shares of the real estate investment trust’s stock valued at $6,081,000 after purchasing an additional 421,095 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial raised 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.00.

Piedmont Realty Trust Stock Performance

NYSE:PDM opened at $7.92 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.67 and a current ratio of 1.67. The firm’s 50-day moving average is $8.41 and its 200-day moving average is $8.37. Piedmont Realty Trust, Inc. has a 52-week low of $5.46 and a 52-week high of $9.19. The company has a market cap of $985.58 million, a price-to-earnings ratio of -11.64 and a beta of 1.26.

Piedmont Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $142.85 million during the quarter, compared to analysts’ expectations of $139.39 million. Piedmont Realty Trust had a negative return on equity of 5.40% and a negative net margin of 14.80%. Equities research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current 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.