Charles Schwab Investment Management Inc. Has $16.99 Million Holdings in Piedmont Realty Trust, Inc. $PDM

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Piedmont Realty Trust, Inc. by 3.6% during the first quarter, leaving them with 2,305,724 shares valued at $16.99 million.
• Analysts have set a new average target price for Piedmont Realty Trust shares at $8.67, with ratings ranging from "buy" to "sell" amid recent price adjustments.
• Piedmont Realty Trust reported earnings per share of $0.36, which exceeded analyst expectations, although its quarterly revenue decreased 2.1% compared to the previous year.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,305,724 shares of the real estate investment trust's stock after selling 86,033 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.85% of Piedmont Realty Trust worth $16,993,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Private Management Group Inc. increased its position in shares of Piedmont Realty Trust by 4.1% during the first quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust's stock worth $30,028,000 after acquiring an additional 160,453 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Piedmont Realty Trust in the 4th quarter valued at about $1,313,000. GAMMA Investing LLC boosted its position in shares of Piedmont Realty Trust by 540.9% during the first quarter. GAMMA Investing LLC now owns 23,636 shares of the real estate investment trust's stock worth $174,000 after buying an additional 19,948 shares during the period. BROOKFIELD Corp ON grew its holdings in shares of Piedmont Realty Trust by 46.5% during the fourth quarter. BROOKFIELD Corp ON now owns 1,033,232 shares of the real estate investment trust's stock worth $9,454,000 after buying an additional 327,982 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Piedmont Realty Trust by 23.7% in the 4th quarter. Deutsche Bank AG now owns 242,358 shares of the real estate investment trust's stock valued at $2,218,000 after buying an additional 46,399 shares during the last quarter. 84.48% of the stock is owned by institutional investors.

Piedmont Realty Trust Price Performance

Shares of NYSE PDM traded up $0.23 during mid-day trading on Wednesday, reaching $8.34. The company had a trading volume of 259,085 shares, compared to its average volume of 953,375. The business's 50-day simple moving average is $7.57 and its 200 day simple moving average is $7.22. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -15.15 and a beta of 1.46. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.67 and a current ratio of 1.67. Piedmont Realty Trust, Inc. has a one year low of $5.46 and a one year high of $11.11.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.36 EPS 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 analysts' expectations of $141.96 million. During the same period in the prior year, the company earned $0.37 EPS. Piedmont Realty Trust's revenue was down 2.1% compared to the same quarter last year. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. On average, research analysts predict that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Piedmont Realty Trust Profile

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.