Piedmont Realty Trust (NYSE:PDM) Price Target Cut to $10.00 by Analysts at Truist Financial

Piedmont Realty Trust (NYSE:PDM) had its price target decreased by Truist Financial from $11.00 to $10.00 in a research report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on PDM. Wall Street Zen cut shares of Piedmont Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.00.

Piedmont Realty Trust Trading Down 1.3%

NYSE PDM opened at $7.16 on Monday. Piedmont Realty Trust has a 12 month low of $5.46 and a 12 month high of $9.19. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.49. The stock’s fifty day moving average price is $8.20 and its 200-day moving average price is $8.36. The stock has a market cap of $894.18 million, a P/E ratio of -10.53 and a beta of 1.26.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Piedmont Realty Trust by 0.3% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 388,039 shares of the real estate investment trust’s stock valued at $3,236,000 after buying an additional 1,300 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Piedmont Realty Trust by 2.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 46,683 shares of the real estate investment trust’s stock valued at $389,000 after acquiring an additional 1,321 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Piedmont Realty Trust by 2.1% in the fourth quarter. Merit Financial Group LLC now owns 67,292 shares of the real estate investment trust’s stock valued at $561,000 after acquiring an additional 1,356 shares during the period. Van ECK Associates Corp lifted its holdings in Piedmont Realty Trust by 3.9% in the third quarter. Van ECK Associates Corp now owns 36,743 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 1,387 shares during the period. Finally, ProShare Advisors LLC boosted its position in Piedmont Realty Trust by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 22,725 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,461 shares during the last quarter. Institutional investors own 84.48% of the company’s stock.

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.