Sonora Investment Management Group LLC Increases Stake in Piedmont Realty Trust, Inc. $PDM

Key Points

• Sonora Investment Management Group LLC increased its stake in Piedmont Realty Trust by 213.5% in the second quarter, now owning 125,400 shares worth $914,000.
• Wall Street analysts have given Piedmont Realty Trust a consensus rating of “Hold”, with an average target price of $8.67.
• In its latest earnings report, Piedmont Realty Trust beat the EPS consensus estimate by $0.01, reporting $0.36 earnings per share for the quarter.

Sonora Investment Management Group LLC lifted its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 213.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,400 shares of the real estate investment trust's stock after buying an additional 85,400 shares during the quarter. Sonora Investment Management Group LLC owned about 0.10% of Piedmont Realty Trust worth $914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of PDM. Wolverine Asset Management LLC purchased a new position in Piedmont Realty Trust during the 1st quarter valued at about $48,000. New Age Alpha Advisors LLC purchased a new position in Piedmont Realty Trust during the 1st quarter valued at about $71,000. Ballentine Partners LLC purchased a new position in Piedmont Realty Trust during the 1st quarter valued at about $82,000. Arkadios Wealth Advisors lifted its position in Piedmont Realty Trust by 13.0% during the 1st quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust's stock valued at $96,000 after acquiring an additional 1,500 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Piedmont Realty Trust during the 1st quarter valued at about $134,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PDM has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. JPMorgan Chase & Co. reduced their price objective on shares of 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. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Piedmont Realty Trust has a consensus rating of "Hold" and an average target price of $8.67.

Piedmont Realty Trust Stock Performance

Shares of NYSE PDM opened at $8.77 on Friday. The firm has a 50 day moving average of $8.17 and a 200 day moving average of $7.43. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -15.94 and a beta of 1.53. 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 earnings results on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating 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 net margin of 12.10% and a negative return on equity of 4.32%. The firm's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. On average, research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

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.

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