Nuveen LLC Takes $5.76 Million Position in Piedmont Realty Trust, Inc. $PDM

Key Points

• Nuveen LLC has acquired a new stake in Piedmont Realty Trust, purchasing over 782,000 shares valued at approximately $5.76 million, which represents a 0.63% ownership in the company.
• Shares of Piedmont Realty Trust (NYSE:PDM) currently trade at around $8.16, with a market cap of $1.02 billion and a price-to-earnings ratio of -14.83.
• Analysts have mixed opinions on Piedmont Realty Trust, with ratings ranging from a "buy" to a "hold," and an average price target set at $8.67.

Nuveen LLC acquired a new position in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 782,103 shares of the real estate investment trust's stock, valued at approximately $5,764,000. Nuveen LLC owned approximately 0.63% of Piedmont Realty Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Piedmont Realty Trust in the 4th quarter valued at about $59,000. Wolverine Asset Management LLC purchased a new stake in shares of Piedmont Realty Trust in the 1st quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Piedmont Realty Trust in the 4th quarter valued at about $76,000. New Age Alpha Advisors LLC purchased a new stake in shares of Piedmont Realty Trust in the 1st quarter valued at about $71,000. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Piedmont Realty Trust in the 4th quarter valued at about $99,000. Hedge funds and other institutional investors own 84.48% of the company's stock.

Piedmont Realty Trust Trading Up 1.4%

PDM traded up $0.12 on Friday, hitting $8.46. 669,214 shares of the company were exchanged, compared to its average volume of 951,945. The firm has a fifty day simple moving average of $7.61 and a two-hundred day simple moving average of $7.23. 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 12 month low of $5.46 and a 12 month high of $11.11. The stock has a market capitalization of $1.05 billion, a PE ratio of -15.37 and a beta of 1.46.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings results 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. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%.The business had revenue of $111.13 million for the quarter, compared to analyst estimates of $141.96 million. During the same period last year, the company earned $0.37 EPS. Piedmont Realty Trust's revenue for the quarter 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. Sell-side analysts expect that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on PDM shares. Truist Financial lowered their price target on Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their price target 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. Finally, Wall Street Zen raised Piedmont Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Piedmont Realty Trust currently has a consensus rating of "Hold" and an average target price 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.