Bank of America Corp DE Decreases Stock Holdings in Piedmont Realty Trust, Inc. $PDM

Key Points

• Bank of America reduced its Piedmont Realty Trust stake by 14.7% in the first quarter, selling 130,635 shares and retaining 757,953 shares valued at approximately $4.98 million. Institutional investors collectively own 84.48% of the REIT.
• Piedmont shares opened at $9.72, near their 52-week high of $10.13, while the company reported a quarterly loss of $0.09 per share—below estimates—but revenue of $144.12 million, above expectations.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold with an average price target of $10.50.

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.

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.

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