Piedmont Realty Trust, Inc. $PDM Stock Position Boosted by Wilsey Asset Management Inc.

Key Points

• Wilsey Asset Management Inc. increased its stake in Piedmont Realty Trust by 2.6%, owning over 4.1 million shares, making it the 10th largest holding in Wilsey's portfolio.
• Piedmont Realty reported a quarterly EPS of $0.36, slightly exceeding analyst estimates, despite a year-over-year revenue decline of 2.1%.
• The stock has faced mixed analyst ratings, with JPMorgan reducing its target price from $9.00 to $8.00, while Wall Street Zen upgraded it from a "sell" to a "hold".

Wilsey Asset Management Inc. increased its holdings in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,115,288 shares of the real estate investment trust's stock after buying an additional 103,658 shares during the quarter. Piedmont Realty Trust comprises approximately 5.5% of Wilsey Asset Management Inc.'s portfolio, making the stock its 10th biggest holding. Wilsey Asset Management Inc. owned approximately 3.31% of Piedmont Realty Trust worth $30,000,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Private Management Group Inc. lifted its position in 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 buying an additional 160,453 shares during the period. Wellington Management Group LLP lifted its position in Piedmont Realty Trust by 1.3% during the first quarter. Wellington Management Group LLP now owns 2,134,947 shares of the real estate investment trust's stock worth $15,735,000 after buying an additional 28,088 shares during the period. Systematic Financial Management LP lifted its position in Piedmont Realty Trust by 20.6% during the first quarter. Systematic Financial Management LP now owns 1,446,437 shares of the real estate investment trust's stock worth $10,660,000 after buying an additional 247,171 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in Piedmont Realty Trust by 48.0% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust's stock worth $9,013,000 after buying an additional 396,923 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Piedmont Realty Trust by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 950,015 shares of the real estate investment trust's stock worth $7,002,000 after buying an additional 96,182 shares during the period. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Realty Trust Stock Performance

Shares of NYSE:PDM opened at $9.07 on Wednesday. The firm has a market capitalization of $1.13 billion, a PE ratio of -16.48 and a beta of 1.53. 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 business has a 50-day moving average of $8.08 and a two-hundred day moving average of $7.39. Piedmont Realty Trust, Inc. has a 12 month low of $5.46 and a 12 month high of $11.11.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly 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. The company had revenue of $111.13 million during the quarter, compared to analyst estimates of $141.96 million. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%.The firm's revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm 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 forecast that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

PDM has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Wall Street Zen upgraded Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.67.

Piedmont Realty Trust 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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