Piedmont Realty Trust, Inc. (NYSE:PDM) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 61% to 5.67 million shares as of August 14, representing about 4.6% of shares outstanding and a six-day days-to-cover ratio.
• Piedmont Realty Trust shares traded near $9.58, within their $6.32–$10.13 52-week range. The REIT missed quarterly EPS estimates, reporting a loss of $0.09 per share versus the expected loss of $0.06, despite revenue exceeding forecasts.
• Institutional ownership is high at 84.48%, with several major investors increasing their positions. Analyst views remain mixed, producing a consensus “Hold” rating and an average price target of $10.50.

Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 5,672,173 shares, an increase of 61.0% from the July 30th total of 3,522,104 shares. Based on an average daily trading volume, of 953,165 shares, the days-to-cover ratio is presently 6.0 days. Approximately 4.6% of the shares of the company are sold short.

Piedmont Realty Trust Stock Performance

Piedmont Realty Trust stock traded up $0.04 during trading hours on Monday, hitting $9.58. The stock had a trading volume of 991,232 shares, compared to its average volume of 1,028,150. The company has a 50-day moving average of $9.55 and a two-hundred day moving average of $8.41. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.53. The company has a market cap of $1.20 billion, a PE ratio of -14.74 and a beta of 1.35. Piedmont Realty Trust has a fifty-two week low of $6.32 and a fifty-two week high of $10.13.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). The firm had revenue of $144.12 million for the quarter, compared to the consensus estimate of $133.68 million. Piedmont Realty Trust had a negative net margin of 14.18% and a negative return on equity of 5.39%. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. On average, equities research analysts anticipate that Piedmont Realty Trust will post 1.51 EPS for the current fiscal year.

Institutional Trading of Piedmont Realty Trust

Several institutional investors have recently made changes to their positions in the business. Centersquare Investment Management LLC lifted its stake in Piedmont Realty Trust by 154.3% during the fourth quarter. Centersquare Investment Management LLC now owns 3,429,364 shares of the real estate investment trust's stock worth $28,601,000 after purchasing an additional 2,080,658 shares during the period. Donald Smith & CO. Inc. acquired a new position in shares of Piedmont Realty Trust in the 2nd quarter worth approximately $17,788,000. Ameriprise Financial Inc. raised its holdings in shares of Piedmont Realty Trust by 368.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust's stock worth $14,262,000 after buying an additional 1,609,919 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Piedmont Realty Trust by 938.7% during the 2nd quarter. California State Teachers Retirement System now owns 1,232,404 shares of the real estate investment trust's stock worth $11,276,000 after buying an additional 1,113,759 shares during the period. Finally, Cohen & Steers Inc. lifted its position in shares of Piedmont Realty Trust by 13.8% during the 4th quarter. Cohen & Steers Inc. now owns 6,698,202 shares of the real estate investment trust's stock worth $55,863,000 after buying an additional 812,700 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PDM shares. Robert W. Baird raised their price objective on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. Weiss Ratings downgraded shares of Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. Finally, Truist Financial restated a "buy" rating and issued a $11.00 price target (up from $10.00) on shares of Piedmont Realty Trust in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.50.

About Piedmont Realty Trust

Piedmont Realty Trust is a real estate investment trust (REIT) headquartered in Atlanta, Georgia, that focuses on the ownership, acquisition and management of office properties. The company's portfolio comprises a mix of multi-tenant and single-tenant buildings, with a particular emphasis on small- to mid-size office campuses and urban infill properties. Piedmont Realty Trust structures its leases and property services to support a diversified base of tenants, including professional services firms, government agencies and technology companies.

The company's operating model combines property management, leasing and strategic capital allocation to enhance asset value and drive income stability.

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