Donald Smith & CO. Inc. purchased a new position in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,944,080 shares of the real estate investment trust's stock, valued at approximately $17,788,000. Donald Smith & CO. Inc. owned approximately 1.55% of Piedmont Realty Trust as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in Piedmont Realty Trust in the third quarter worth approximately $30,000. Kestra Advisory Services LLC acquired a new stake in shares of Piedmont Realty Trust in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of Piedmont Realty Trust by 214.6% during the second 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 during the last quarter. Global Retirement Partners LLC grew its position in Piedmont Realty Trust by 93.9% in the 4th quarter. Global Retirement Partners LLC now owns 9,334 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 4,519 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in Piedmont Realty Trust by 26.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 9,854 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 2,058 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PDM has been the subject of several research analyst reports. Robert W. Baird raised their price objective 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. Truist Financial reaffirmed a "buy" rating and issued a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a research note on Monday, June 15th. Finally, Weiss Ratings cut Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Piedmont Realty Trust currently has an average rating of "Hold" and a consensus price target of $10.50.
Check Out Our Latest Stock Report on PDM
Piedmont Realty Trust Stock Down 0.5%
NYSE:PDM opened at $9.68 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.53. Piedmont Realty Trust, Inc. has a 52 week low of $6.32 and a 52 week high of $10.13. The stock has a 50 day moving average of $9.47 and a 200-day moving average of $8.37. The firm has a market capitalization of $1.21 billion, a PE ratio of -14.89 and a beta of 1.35.
Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $144.12 million during the quarter, compared to the consensus estimate of $133.68 million. Piedmont Realty Trust had a negative net margin of 14.18% and a negative return on equity of 5.39%. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. Analysts predict that Piedmont Realty Trust, Inc. will post 1.52 EPS for the current year.
Piedmont Realty Trust Company Profile
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Free Report)
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.
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