Caxton Associates LLP Makes New Investment in Piedmont Realty Trust, Inc. $PDM

Key Points

• Caxton Associates LLP has acquired 72,028 shares of Piedmont Realty Trust, Inc., valued at approximately $531,000, representing about 0.06% of the company's stock.
• Piedmont Realty Trust reported an EPS of $0.36 for the latest quarter, surpassing expectations of $0.35 but sees a 2.1% decline in year-over-year revenue.
• Analysts have assigned an average rating of "Hold" to Piedmont Realty Trust's stock, with a consensus target price of $8.67, down from previous price objectives.

Caxton Associates LLP acquired a new stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 72,028 shares of the real estate investment trust's stock, valued at approximately $531,000. Caxton Associates LLP owned about 0.06% of Piedmont Realty Trust at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new stake in Piedmont Realty Trust during the 1st quarter valued at about $48,000. Point72 Hong Kong Ltd purchased a new stake in Piedmont Realty Trust during the 4th quarter valued at about $59,000. New Age Alpha Advisors LLC purchased a new stake in Piedmont Realty Trust during the 1st quarter valued at about $71,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Piedmont Realty Trust during the 4th quarter valued at about $76,000. Finally, Ballentine Partners LLC purchased a new stake in Piedmont Realty Trust during the 1st quarter valued at about $82,000. 84.48% of the stock is currently owned by institutional investors.

Piedmont Realty Trust Stock Down 1.0%

PDM stock traded down $0.09 on Wednesday, reaching $8.81. 108,189 shares of the company traded hands, compared to its average volume of 929,262. Piedmont Realty Trust, Inc. has a one year low of $5.46 and a one year high of $11.11. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $1.10 billion, a P/E ratio of -16.03 and a beta of 1.53. The firm has a fifty day simple moving average of $7.95 and a 200-day simple moving average of $7.34.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%.The company had revenue of $111.13 million during the quarter, compared to analyst estimates of $141.96 million. During the same quarter last year, the company earned $0.37 EPS. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. Research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PDM. JPMorgan Chase & Co. dropped their price objective on Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Truist Financial dropped their price objective on Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. Finally, Wall Street Zen upgraded Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Piedmont Realty Trust has an average rating of "Hold" and an average target price of $8.67.

About Piedmont Realty Trust

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") NYSE: PDM is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.