Piedmont Realty Trust (NYSE:PDM) Stock Rating Lowered by Wall Street Zen

Piedmont Realty Trust (NYSE:PDM) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts have also weighed in 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 Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.00.

Piedmont Realty Trust Stock Up 0.1%

Shares of NYSE PDM opened at $7.99 on Friday. The company’s 50 day moving average price is $8.39 and its 200-day moving average price is $8.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.67 and a current ratio of 1.30. Piedmont Realty Trust has a 52-week low of $5.46 and a 52-week high of $9.19. The company has a market capitalization of $996.93 million, a P/E ratio of -11.74 and a beta of 1.26.

Piedmont Realty Trust (NYSE:PDM) last announced its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $142.85 million during the quarter, compared to the consensus estimate of $139.39 million. Piedmont Realty Trust had a negative net margin of 14.80% and a negative return on equity of 5.44%. Equities analysts forecast that Piedmont Realty Trust will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Piedmont Realty Trust in the third quarter worth approximately $30,000. Kestra Advisory Services LLC acquired a new position in shares of Piedmont Realty Trust during the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 3,005 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of Piedmont Realty Trust by 629.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 6,718 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Piedmont Realty Trust by 79.6% in 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 purchasing an additional 3,299 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

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.