Systematic Financial Management LP Purchases 247,171 Shares of Piedmont Realty Trust, Inc. $PDM

Key Points

• Systematic Financial Management LP increased its holdings in Piedmont Realty Trust by 20.6%, owning 1,446,437 shares worth approximately $10.66 million after acquiring an additional 247,171 shares in the first quarter.
• Research analysts have adjusted price targets for Piedmont Realty Trust, with Truist Financial lowering theirs from $10.00 to $9.00, while JPMorgan Chase & Co. reduced it from $9.00 to $8.00.
• Piedmont Realty Trust reported a quarterly EPS of $0.36, exceeding estimates but experiencing a 2.1% decline in revenue compared to the previous year.

Systematic Financial Management LP grew its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 20.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,446,437 shares of the real estate investment trust's stock after purchasing an additional 247,171 shares during the period. Systematic Financial Management LP owned about 1.16% of Piedmont Realty Trust worth $10,660,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in shares of Piedmont Realty Trust in the 1st quarter worth approximately $48,000. Point72 Hong Kong Ltd purchased a new position in shares of Piedmont Realty Trust in the 4th quarter worth approximately $59,000. New Age Alpha Advisors LLC purchased a new position in shares of Piedmont Realty Trust in the 1st quarter worth approximately $71,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Piedmont Realty Trust in the 4th quarter worth approximately $76,000. Finally, Ballentine Partners LLC purchased a new position in shares of Piedmont Realty Trust in the 1st quarter worth approximately $82,000. Hedge funds and other institutional investors own 84.48% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PDM shares. Wall Street Zen upgraded Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Truist Financial dropped their price objective on Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Piedmont Realty Trust has a consensus rating of "Hold" and a consensus price target of $8.67.

Piedmont Realty Trust Price Performance

Shares of Piedmont Realty Trust stock traded up $0.08 during trading on Friday, hitting $8.42. The stock had a trading volume of 116,207 shares, compared to its average volume of 948,572. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -15.30 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 business's 50-day moving average is $7.61 and its 200 day moving average is $7.23. 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 released its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $111.13 million for the quarter, compared to analysts' expectations 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 business's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. As a group, sell-side 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.