Strs Ohio Invests $1.31 Million in Piedmont Realty Trust, Inc. $PDM

Key Points

• Strs Ohio has made a new investment in Piedmont Realty Trust, Inc., acquiring 177,100 shares valued at approximately $1.3 million.
• Institutional investors own 84.48% of Piedmont Realty Trust, with notable stake increases from firms like Ameriprise Financial and Millennium Management.
• Piedmont Realty Trust reported a quarterly EPS of $0.36, exceeding expectations, but experienced a 2.1% decline in revenue year-over-year.

Strs Ohio purchased a new position in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 177,100 shares of the real estate investment trust's stock, valued at approximately $1,305,000. Strs Ohio owned about 0.14% of Piedmont Realty Trust as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PDM. Nuveen LLC acquired a new position in shares of Piedmont Realty Trust during the first quarter worth approximately $5,764,000. Wellington Management Group LLP raised its stake in shares of Piedmont Realty Trust by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 2,106,859 shares of the real estate investment trust's stock valued at $19,278,000 after purchasing an additional 546,242 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Piedmont Realty Trust by 48.0% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust's stock valued at $9,013,000 after purchasing an additional 396,923 shares in the last quarter. Man Group plc raised its stake in shares of Piedmont Realty Trust by 535.6% in the fourth quarter. Man Group plc now owns 419,232 shares of the real estate investment trust's stock valued at $3,836,000 after purchasing an additional 353,276 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Piedmont Realty Trust by 20.6% in the first quarter. Systematic Financial Management LP now owns 1,446,437 shares of the real estate investment trust's stock valued at $10,660,000 after purchasing an additional 247,171 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Realty Trust Price Performance

NYSE:PDM traded down $0.04 during trading hours on Friday, reaching $8.94. The company had a trading volume of 2,838,364 shares, compared to its average volume of 752,072. The stock has a 50-day moving average of $8.02 and a two-hundred day moving average of $7.37. Piedmont Realty Trust, Inc. has a one year low of $5.46 and a one year high of $11.11. The firm has a market capitalization of $1.11 billion, a PE ratio of -16.25 and a beta of 1.53. The company has a quick ratio of 1.67, a current 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 results on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share 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 for the quarter, compared to analysts' expectations of $141.96 million. During the same period in the prior year, the business posted $0.37 earnings per share. The business's revenue 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. Analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

PDM has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on 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. Wall Street Zen upgraded Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.