Bank of America Corp DE lowered its stake in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 14.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 757,953 shares of the real estate investment trust's stock after selling 130,635 shares during the quarter. Bank of America Corp DE owned 0.61% of Piedmont Realty Trust worth $4,980,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Piedmont Realty Trust by 28.5% during the 1st quarter. AQR Capital Management LLC now owns 332,286 shares of the real estate investment trust's stock worth $2,449,000 after purchasing an additional 73,762 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Piedmont Realty Trust by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,346 shares of the real estate investment trust's stock worth $541,000 after buying an additional 3,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Piedmont Realty Trust by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 950,015 shares of the real estate investment trust's stock worth $7,002,000 after buying an additional 96,182 shares in the last quarter. Cetera Investment Advisers boosted its position in Piedmont Realty Trust by 18.0% during the second quarter. Cetera Investment Advisers now owns 43,285 shares of the real estate investment trust's stock worth $316,000 after acquiring an additional 6,603 shares during the last quarter. Finally, Norges Bank acquired a new position in Piedmont Realty Trust during the second quarter worth about $813,000. Hedge funds and other institutional investors own 84.48% of the company's stock.
Piedmont Realty Trust Stock Down 1.6%
Shares of NYSE PDM opened at $9.72 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -14.96 and a beta of 1.35. The company has a quick ratio of 1.36, a current 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 business's 50 day moving average is $9.54 and its two-hundred day moving average is $8.41.
Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). The business had revenue of $144.12 million for the quarter, compared to analysts' expectations of $133.68 million. Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%.Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. Research analysts predict that Piedmont Realty Trust, Inc. will post 1.52 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Weiss Ratings lowered Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, July 30th. Robert W. Baird raised their target price on Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. Finally, Truist Financial reiterated a "buy" rating and set a $11.00 price target (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.50.
Read Our Latest Report on Piedmont Realty Trust
About Piedmont Realty Trust
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Piedmont Realty Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Piedmont Realty Trust wasn't on the list.
While Piedmont Realty Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries. "Physical AI" is coming. Learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
