Bank of New York Mellon Corp purchased a new stake in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 543,766 shares of the real estate investment trust's stock, valued at approximately $4,975,000. Bank of New York Mellon Corp owned about 0.43% of Piedmont Realty Trust at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Punch & Associates Investment Management Inc. bought a new stake in shares of Piedmont Realty Trust in the 1st quarter valued at $3,614,000. Bessemer Group Inc. lifted its holdings in Piedmont Realty Trust by 63,822.3% during the first quarter. Bessemer Group Inc. now owns 474,943 shares of the real estate investment trust's stock worth $3,120,000 after acquiring an additional 474,200 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Piedmont Realty Trust by 17.6% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 819,238 shares of the real estate investment trust's stock worth $6,832,000 after acquiring an additional 122,346 shares in the last quarter. Wilsey Asset Management Inc. lifted its holdings in Piedmont Realty Trust by 15.4% during the first quarter. Wilsey Asset Management Inc. now owns 4,892,550 shares of the real estate investment trust's stock worth $32,144,000 after acquiring an additional 651,648 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Piedmont Realty Trust by 13.5% in the fourth quarter. Legal & General Group Plc now owns 522,654 shares of the real estate investment trust's stock valued at $4,359,000 after acquiring an additional 62,010 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.
Piedmont Realty Trust Stock Performance
Shares of NYSE:PDM opened at $9.69 on Friday. Piedmont Realty Trust, Inc. has a 52-week low of $6.32 and a 52-week high of $10.13. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $1.21 billion, a P/E ratio of -14.91 and a beta of 1.36. The company has a 50-day simple moving average of $9.60 and a 200 day simple moving average of $8.46.
Piedmont Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business 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. Sell-side analysts forecast that Piedmont Realty Trust, Inc. will post 1.51 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on PDM shares. Robert W. Baird increased 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. Truist Financial reiterated a "buy" rating and issued a $11.00 price target (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. Finally, Weiss Ratings downgraded shares of Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.50.
View Our Latest Stock Analysis on Piedmont Realty Trust
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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