Piedmont Realty Trust, Inc. $PDM Shares Sold by Glenmede Trust Co. NA

Key Points

• Glenmede Trust reduced its Piedmont Realty Trust stake by 8.4% in the first quarter, selling 119,117 shares and retaining 1.29 million shares worth approximately $8.5 million. Institutional investors and hedge funds collectively own 84.48% of PDM.
• PDM shares opened at $9.88, near their 12-month high of $10.13, after trading above both their 50-day and 200-day moving averages. The company reported quarterly revenue of $144.1 million, above estimates, but missed earnings expectations with a loss of $0.09 per share.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $11.00. Truist maintained a Buy rating and raised its target to $11, while other firms issued Sell and Hold assessments.

Glenmede Trust Co. NA reduced its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,291,717 shares of the real estate investment trust's stock after selling 119,117 shares during the period. Glenmede Trust Co. NA owned about 1.03% of Piedmont Realty Trust worth $8,487,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PDM. Advisory Services Network LLC acquired a new stake in shares of Piedmont Realty Trust in the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new position in Piedmont Realty Trust in the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC increased its holdings in Piedmont Realty Trust by 214.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 3,005 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Piedmont Realty Trust by 93.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,334 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 4,519 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its stake in Piedmont Realty Trust by 26.4% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,854 shares of the real estate investment trust's stock valued at $82,000 after buying an additional 2,058 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Realty Trust Price Performance

Shares of PDM opened at $9.88 on Tuesday. The company has a market cap of $1.24 billion, a P/E ratio of -15.19 and a beta of 1.36. The stock has a fifty day moving average price of $9.24 and a 200 day moving average price of $8.26. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.36 and a quick ratio of 1.36. Piedmont Realty Trust, Inc. has a 12 month low of $6.32 and a 12 month high of $10.13.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%.The company had revenue of $144.12 million during the quarter, compared to analyst estimates of $133.68 million. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. On average, research analysts forecast that Piedmont Realty Trust, Inc. will post 1.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PDM. Truist Financial reiterated a "buy" rating and issued a $11.00 price target (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. Weiss Ratings lowered shares of Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday. Finally, Wall Street Zen raised shares of Piedmont Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.00.

Piedmont Realty Trust Profile

Piedmont Realty Trust is a real estate investment trust (REIT) headquartered in Atlanta, Georgia, that focuses on the ownership, acquisition and management of office properties. The company's portfolio comprises a mix of multi-tenant and single-tenant buildings, with a particular emphasis on small- to mid-size office campuses and urban infill properties. Piedmont Realty Trust structures its leases and property services to support a diversified base of tenants, including professional services firms, government agencies and technology companies.

The company's operating model combines property management, leasing and strategic capital allocation to enhance asset value and drive income stability.

Want to see what other hedge funds are holding PDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source