Quantbot Technologies LP Sells 33,564 Shares of Piedmont Realty Trust, Inc. $PDM

Key Points

• Quantbot Technologies LP has reduced its stake in Piedmont Realty Trust, Inc. by 53.7%, now holding 28,955 shares valued at approximately $213,000.
• Analysts' ratings for Piedmont Realty Trust include a recent upgrade to "hold" by Wall Street Zen, while JPMorgan lowered its price target from $9.00 to $8.00.
• Piedmont Realty Trust reported earnings of $0.36 per share for the last quarter, beating estimates, but revenue declined 2.1% year-over-year to $111.13 million.

Quantbot Technologies LP lowered its holdings in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,955 shares of the real estate investment trust's stock after selling 33,564 shares during the quarter. Quantbot Technologies LP's holdings in Piedmont Realty Trust were worth $213,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wolverine Asset Management LLC bought a new position in shares of Piedmont Realty Trust in the first quarter valued at $48,000. Point72 Hong Kong Ltd acquired a new stake in shares of Piedmont Realty Trust in the 4th quarter worth about $59,000. New Age Alpha Advisors LLC acquired a new stake in shares of Piedmont Realty Trust in the 1st quarter worth about $71,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Piedmont Realty Trust in the 4th quarter valued at about $76,000. Finally, Ballentine Partners LLC acquired a new position in Piedmont Realty Trust during the 1st quarter valued at about $82,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen raised Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. JPMorgan Chase & Co. lowered their price target on 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. Finally, Truist Financial cut their price objective on shares of Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.67.

Piedmont Realty Trust Stock Performance

Shares of PDM opened at $8.37 on Thursday. The stock has a 50 day moving average of $7.59 and a 200 day moving average of $7.23. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -15.22 and a beta of 1.46. Piedmont Realty Trust, Inc. has a 12 month low of $5.46 and a 12 month high of $11.11. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.41.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $111.13 million during the quarter, compared to the consensus estimate of $141.96 million. During the same quarter in the prior year, the company earned $0.37 EPS. The business'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. As a group, sell-side analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current 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.

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