Piedmont Realty Trust, Inc. $PDM Position Increased by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in Piedmont Realty Trust by 48.0%, holding approximately 1.22 million shares valued at $9.01 million as of the latest SEC filing.
• Piedmont Realty Trust's recent earnings report indicated a quarterly EPS of $0.36, exceeding expectations, although revenue of $111.13 million fell short of the anticipated $141.96 million.
• Analysts have recently adjusted their price targets for Piedmont Realty Trust, with JPMorgan lowering its target from $9.00 to $8.00, reflecting a mostly cautious outlook for the stock which currently holds an average rating of "Hold."

Cbre Investment Management Listed Real Assets LLC raised its position in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 48.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,222,986 shares of the real estate investment trust's stock after acquiring an additional 396,923 shares during the period. Cbre Investment Management Listed Real Assets LLC owned approximately 0.98% of Piedmont Realty Trust worth $9,013,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC increased its holdings in shares of Piedmont Realty Trust by 809.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 3,520 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Piedmont Realty Trust in the 4th quarter valued at about $59,000. Wolverine Asset Management LLC purchased a new position in shares of Piedmont Realty Trust in the 1st quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Piedmont Realty Trust in the 4th quarter valued at about $76,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Piedmont Realty Trust in the 1st quarter valued at about $71,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Analyst Ratings Changes

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

Piedmont Realty Trust Trading Down 0.4%

Shares of NYSE PDM traded down $0.04 during midday trading on Tuesday, reaching $8.12. 609,477 shares of the stock were exchanged, compared to its average volume of 937,153. The stock has a 50 day moving average price of $7.55 and a 200-day moving average price of $7.21. Piedmont Realty Trust, Inc. has a 52-week low of $5.46 and a 52-week high of $11.11. The company has a market capitalization of $1.01 billion, a P/E ratio of 5.62 and a beta of 1.46. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.41.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $111.13 million for the quarter, compared to the consensus estimate of $141.96 million. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%.The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. Equities research analysts expect that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

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.