Jump Financial LLC Sells 43,057 Shares of Piedmont Realty Trust, Inc. $PDM

Key Points

• Jump Financial LLC reduced its stake in Piedmont Realty Trust by 59.4% during the first quarter, now holding 29,379 shares valued at $217,000.
• Institutional investors control 84.48% of Piedmont Realty Trust, with several firms, like Private Management Group and GAMMA Investing, significantly increasing their holdings recently.
• Piedmont Realty Trust reported $0.36 earnings per share, beating estimates, but its revenue was down 2.1% year-over-year, leading to a negative net margin of 12.10%.

Jump Financial LLC reduced its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 59.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,379 shares of the real estate investment trust's stock after selling 43,057 shares during the period. Jump Financial LLC's holdings in Piedmont Realty Trust were worth $217,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PDM. Private Management Group Inc. raised 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 during the last quarter. Wilsey Asset Management Inc. increased its position in Piedmont Realty Trust by 1.5% during the 1st quarter. Wilsey Asset Management Inc. now owns 4,011,630 shares of the real estate investment trust's stock valued at $29,566,000 after purchasing an additional 58,088 shares during the period. Hudson Bay Capital Management LP raised its holdings in Piedmont Realty Trust by 58.8% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,281,624 shares of the real estate investment trust's stock worth $20,877,000 after purchasing an additional 845,098 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Piedmont Realty Trust by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 2,134,947 shares of the real estate investment trust's stock worth $15,735,000 after purchasing an additional 28,088 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Piedmont Realty Trust by 14.6% in the 4th quarter. Northern Trust Corp now owns 1,715,675 shares of the real estate investment trust's stock valued at $15,698,000 after purchasing an additional 218,365 shares during the last quarter. Institutional investors own 84.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in 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, August 23rd. Truist Financial decreased their price objective 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. Finally, JPMorgan Chase & Co. decreased their price objective 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. One research 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 has a consensus rating of "Hold" and a consensus price target of $8.67.

Piedmont Realty Trust Stock Up 2.2%

NYSE:PDM traded up $0.19 on Friday, hitting $8.79. The stock had a trading volume of 713,859 shares, compared to its average volume of 703,061. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.41. Piedmont Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $11.11. The business's fifty day moving average is $7.76 and its 200 day moving average is $7.26. The company has a market cap of $1.09 billion, a PE ratio of -15.98 and a beta of 1.53.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $141.96 million. During the same period in the prior year, the firm earned $0.37 earnings per share. Piedmont Realty Trust'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. On average, equities research analysts expect that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

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.