Invesco Ltd. Has $5.06 Million Holdings in Piedmont Realty Trust, Inc. $PDM

Key Points

• Invesco Ltd. reduced its holdings in Piedmont Realty Trust by 16.3%, now owning approximately 0.55% of the company valued at $5.06 million.
• Piedmont Realty Trust reported a quarterly EPS of $0.36, exceeding expectations of $0.35, but faced a 12.10% negative net margin.
• Analysts have mixed ratings on Piedmont Realty Trust, with a revised consensus price target of $8.67 and one analyst rating it as a Buy while three have assigned a Hold rating.

Invesco Ltd. decreased its stake in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 685,963 shares of the real estate investment trust's stock after selling 133,748 shares during the period. Invesco Ltd. owned about 0.55% of Piedmont Realty Trust worth $5,056,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in Piedmont Realty Trust by 24.7% during the fourth quarter. Wells Fargo & Company MN now owns 90,251 shares of the real estate investment trust's stock worth $826,000 after buying an additional 17,855 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Piedmont Realty Trust during the fourth quarter worth about $242,000. Raymond James Financial Inc. purchased a new position in Piedmont Realty Trust in the fourth quarter valued at about $1,313,000. Barclays PLC boosted its stake in Piedmont Realty Trust by 7.3% in the fourth quarter. Barclays PLC now owns 254,856 shares of the real estate investment trust's stock valued at $2,332,000 after acquiring an additional 17,449 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Piedmont Realty Trust by 48.2% during the 4th quarter. First Trust Advisors LP now owns 36,698 shares of the real estate investment trust's stock valued at $336,000 after buying an additional 11,941 shares in the last quarter. Institutional investors own 84.48% of the company's stock.

Piedmont Realty Trust Price Performance

Shares of NYSE:PDM opened at $8.37 on Thursday. Piedmont Realty Trust, Inc. has a 1-year low of $5.46 and a 1-year high of $11.11. The firm's 50 day simple moving average is $7.59 and its two-hundred day simple moving average is $7.23. 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 capitalization of $1.04 billion, a P/E ratio of -15.22 and a beta of 1.46.

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 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Piedmont Realty Trust had a negative net margin of 12.10% and a negative return on equity of 4.32%. The firm had revenue of $111.13 million for the quarter, compared to the consensus estimate of $141.96 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The company's quarterly 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. Research analysts expect that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on PDM shares. JPMorgan Chase & Co. decreased their target price on shares of Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Wall Street Zen raised shares of Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. Finally, 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 research report on Tuesday, May 20th. 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 MarketBeat.com, the company has a consensus 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.

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