Piedmont Realty Trust, Inc. (PDM) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst sentiment is moderately positive: Six analysts give Piedmont Realty Trust a “Moderate Buy” consensus, with an average 1-year price target of $10.75.
• Recent ratings were mixed: Zacks Research upgraded the stock to “strong buy” and Freedom Broker to “buy,” while Baird and JPMorgan maintained neutral ratings and Weiss reiterated a sell rating.
• Quarterly results were mixed: Piedmont reported an EPS loss of $0.17, missing the $0.06 loss estimate, while revenue of $151.24 million exceeded the $146.80 million consensus.

Shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $10.75.

A number of research firms have issued reports on PDM. Robert W. Baird boosted their target price on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Zacks Research upgraded shares of Piedmont Realty Trust from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 15th. JPMorgan Chase & Co. lifted their price target on shares of Piedmont Realty Trust from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday, September 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Piedmont Realty Trust in a report on Wednesday, October 28th. Finally, Freedom Broker upgraded shares of Piedmont Realty Trust from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a report on Wednesday, October 28th.

Piedmont Realty Trust Stock Performance

PDM stock opened at $9.96 on Wednesday. Piedmont Realty Trust has a twelve month low of $6.32 and a twelve month high of $10.23. The business's fifty day moving average is $9.36 and its 200-day moving average is $8.66. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.62. The company has a market cap of $1.23 billion, a P/E ratio of -14.02 and a beta of 1.41.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Monday, October 26th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.11). The company had revenue of $151.24 million for the quarter, compared to the consensus estimate of $146.80 million. Piedmont Realty Trust had a negative return on equity of 5.98% and a negative net margin of 15.18%. Equities research analysts forecast that Piedmont Realty Trust will post 1.55 EPS for the current year.

Insider Activity at Piedmont Realty Trust

In other Piedmont Realty Trust news, CFO Sherry Rexroad sold 4,446 shares of Piedmont Realty Trust stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $8.81, for a total value of $39,169.26. Following the sale, the chief financial officer owned 53,857 shares of the company's stock, valued at $474,480.17. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Piedmont Realty Trust

A number of institutional investors have recently made changes to their positions in PDM. Allworth Financial LP grew its position in Piedmont Realty Trust by 34.5% in the third quarter. Allworth Financial LP now owns 9,497 shares of the real estate investment trust's stock valued at $87,000 after purchasing an additional 2,436 shares in the last quarter. Readystate Asset Management LP bought a new stake in Piedmont Realty Trust during the 2nd quarter worth about $94,000. Sequoia Financial Advisors LLC bought a new stake in Piedmont Realty Trust during the 2nd quarter worth about $168,000. HB Wealth Management LLC bought a new stake in Piedmont Realty Trust during the 2nd quarter worth about $204,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Piedmont Realty Trust by 36.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 22,562 shares of the real estate investment trust's stock worth $148,000 after buying an additional 6,032 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 publicly traded real estate investment trust that owns, manages and leases office properties in the United States. Its portfolio is focused on high-quality office buildings, with related services that include property operations, tenant support and leasing. The company concentrates its portfolio in select markets, including Atlanta, Dallas, Orlando and Minneapolis. Piedmont Realty Trust is headquartered in Atlanta and is led by President and Chief Executive Officer Brent Smith.

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