Deutsche Bank AG Sells 85,439 Shares of Piedmont Realty Trust, Inc. $PDM

Key Points

• Deutsche Bank AG reduced its stake in Piedmont Realty Trust by 35.3%, selling 85,439 shares, and now owns approximately 0.13% of the company.
• Piedmont Realty Trust reported a quarterly earnings per share (EPS) of $0.36, exceeding analysts' expectations, but experienced a year-over-year revenue decline of 2.1%.
• Institutional investors hold 84.48% of Piedmont Realty Trust's shares, indicating significant institutional interest in the company.

Deutsche Bank AG lessened its stake in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 35.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,919 shares of the real estate investment trust's stock after selling 85,439 shares during the quarter. Deutsche Bank AG owned about 0.13% of Piedmont Realty Trust worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Private Management Group Inc. grew its position in shares of Piedmont Realty Trust by 4.1% during the 1st quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust's stock worth $30,028,000 after buying an additional 160,453 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Piedmont Realty Trust during the 4th quarter worth approximately $1,313,000. GAMMA Investing LLC grew its position in shares of Piedmont Realty Trust by 540.9% during the 1st 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 position in shares of Piedmont Realty Trust by 46.5% during the 4th 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 during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Piedmont Realty Trust by 6.1% during the 4th quarter. Ameriprise Financial Inc. now owns 818,947 shares of the real estate investment trust's stock worth $7,497,000 after buying an additional 47,110 shares during the period. Institutional investors and hedge funds own 84.48% of the company's stock.

Piedmont Realty Trust Stock Up 3.8%

Shares of NYSE PDM opened at $8.1550 on Friday. The stock has a market cap of $1.02 billion, a P/E ratio of -14.83 and a beta of 1.46. The firm has a 50 day moving average price of $7.54 and a 200 day moving average price of $7.22. 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 52-week low of $5.46 and a 52-week high of $11.11.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price target on shares of Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Finally, Truist Financial lowered their price target on shares of 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. One equities research 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 company presently has an average rating of "Hold" and a consensus price target of $8.67.

Piedmont Realty Trust Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.