Swedbank AB Sells 113,750 Shares of Piedmont Realty Trust, Inc. $PDM

Key Points

• Swedbank AB has reduced its stake in Piedmont Realty Trust by 36.1%, selling 113,750 shares and now holds approximately 200,937 shares valued at $1,465,000.
• Several institutional investors, including Millennium Management LLC and Cetera Investment Advisers, have increased their holdings, with Millennium boosting its position by 153.9%.
• The stock has received mixed ratings from analysts, with JPMorgan Chase lowering its price target to $8.00, while Wall Street Zen upgraded it to a "hold" rating, leading to an average price target of $8.67.

Swedbank AB reduced its holdings in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 36.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,937 shares of the real estate investment trust's stock after selling 113,750 shares during the period. Swedbank AB owned about 0.16% of Piedmont Realty Trust worth $1,465,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Cetera Investment Advisers boosted its position in Piedmont Realty Trust by 26.1% in the fourth quarter. Cetera Investment Advisers now owns 37,252 shares of the real estate investment trust's stock valued at $341,000 after buying an additional 7,704 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Piedmont Realty Trust by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,159 shares of the real estate investment trust's stock valued at $642,000 after buying an additional 2,321 shares in the last quarter. Millennium Management LLC boosted its position in Piedmont Realty Trust by 153.9% in the fourth quarter. Millennium Management LLC now owns 235,907 shares of the real estate investment trust's stock valued at $2,159,000 after buying an additional 142,976 shares in the last quarter. Quantinno Capital Management LP boosted its position in Piedmont Realty Trust by 6.5% in the fourth quarter. Quantinno Capital Management LP now owns 22,803 shares of the real estate investment trust's stock valued at $209,000 after buying an additional 1,390 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Piedmont Realty Trust by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 34,771 shares of the real estate investment trust's stock valued at $318,000 after buying an additional 11,440 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PDM. JPMorgan Chase & Co. reduced their price target on shares of 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 raised shares of Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.67.

Piedmont Realty Trust Stock Down 0.8%

Shares of NYSE:PDM opened at $8.90 on Tuesday. Piedmont Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $11.11. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.67 and a current ratio of 1.67. The company has a market capitalization of $1.11 billion, a PE ratio of -16.17 and a beta of 1.53. The company has a 50 day moving average price of $8.05 and a two-hundred day moving average price of $7.38.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Piedmont Realty Trust had a negative net margin of 12.10% and a negative return on equity of 4.32%. 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 firm earned $0.37 earnings per share. The business's quarterly revenue 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. Analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.