Piedmont Realty Trust, Inc. $PDM Shares Sold by Jump Financial LLC

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 lowered its position in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 59.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,379 shares of the real estate investment trust's stock after selling 43,057 shares during the quarter. Jump Financial LLC's holdings in Piedmont Realty Trust were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its stake in Piedmont Realty Trust by 6.5% in the fourth quarter. Quantinno Capital Management LP now owns 22,803 shares of the real estate investment trust's stock valued at $209,000 after buying an additional 1,390 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Piedmont Realty Trust by 4.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 36,489 shares of the real estate investment trust's stock valued at $334,000 after buying an additional 1,479 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Piedmont Realty Trust by 13.0% in the first quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust's stock valued at $96,000 after buying an additional 1,500 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Piedmont Realty Trust by 7.4% in the first quarter. PNC Financial Services Group Inc. now owns 25,929 shares of the real estate investment trust's stock valued at $191,000 after buying an additional 1,781 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Piedmont Realty Trust by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,159 shares of the real estate investment trust's stock worth $642,000 after purchasing an additional 2,321 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PDM shares. JPMorgan Chase & Co. cut their price target on Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Truist Financial cut their price target on Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Finally, Wall Street Zen upgraded Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.67.

Piedmont Realty Trust Price Performance

NYSE:PDM traded up $0.16 during trading hours on Wednesday, hitting $8.73. The company's stock had a trading volume of 567,700 shares, compared to its average volume of 647,653. The business's 50-day moving average is $7.84 and its two-hundred day moving average is $7.29. The company has a market capitalization of $1.09 billion, a PE ratio of -15.86 and a beta of 1.53. 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 released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 4.32% and a negative net margin of 12.10%.Piedmont Realty Trust's revenue was down 2.1% compared to the same quarter last year. During the same quarter 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. As a group, research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.41 EPS 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.