Swedbank AB Sells 39,422 Shares of Piedmont Realty Trust, Inc. $PDM

Key Points

• Swedbank AB reduced its stake in Piedmont Realty Trust by 11.1%, now holding approximately 314,687 shares worth $2.3 million.
• Despite the decrease in Swedbank's holdings, several institutional investors, including Inspire Investing and UBS Asset Management, have increased their positions in Piedmont Realty Trust.
• Piedmont Realty Trust reported a $0.36 EPS for the latest quarter, slightly beating estimates, but its revenue declined by 2.1% year-over-year to $111.13 million.

Swedbank AB trimmed its position in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 11.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,687 shares of the real estate investment trust's stock after selling 39,422 shares during the period. Swedbank AB owned about 0.25% of Piedmont Realty Trust worth $2,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Inspire Investing LLC increased its stake in shares of Piedmont Realty Trust by 5.3% during the 1st quarter. Inspire Investing LLC now owns 46,648 shares of the real estate investment trust's stock valued at $344,000 after acquiring an additional 2,368 shares during the last quarter. Strs Ohio acquired a new stake in Piedmont Realty Trust during the 1st quarter worth approximately $1,305,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Piedmont Realty Trust by 11.3% during the 1st 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 purchasing an additional 96,182 shares in the last quarter. Caxton Associates LLP acquired a new stake in Piedmont Realty Trust during the 1st quarter worth approximately $531,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Piedmont Realty Trust by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,346 shares of the real estate investment trust's stock worth $541,000 after purchasing an additional 3,187 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company's stock.

Analysts Set New Price Targets

PDM has been the subject of several recent research reports. JPMorgan Chase & Co. lowered 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 report 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 investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $8.67.

Piedmont Realty Trust Stock Performance

Shares of PDM stock traded down $0.04 during trading hours on Friday, reaching $8.94. 2,838,364 shares of the company's stock were exchanged, compared to its average volume of 644,471. Piedmont Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $11.11. The stock has a market capitalization of $1.11 billion, a P/E ratio of -16.25 and a beta of 1.53. The business has a fifty day moving average price of $8.02 and a 200-day moving average price of $7.37. 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 issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. Analysts predict that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal 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.