Piedmont Realty Trust (NYSE:PDM) Posts Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Piedmont Realty Trust reported an earnings per share (EPS) of $0.36, exceeding the consensus estimate of $0.35 by $0.01.
• The company's stock has decreased by 0.5%, trading at $7.47, with a market capitalization of approximately $929.34 million.
• Equities research analysts have recently adjusted their target prices, with JPMorgan lowering it from $9.00 to $8.00 and Truist Financial from $10.00 to $9.00, while maintaining respective ratings of "neutral" and "buy".

Piedmont Realty Trust (NYSE:PDM - Get Free Report) posted its earnings results on Monday. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.01, Zacks reports. The company had revenue of $111.13 million for the quarter, compared to the consensus estimate of $141.96 million. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%. Piedmont Realty Trust's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. Piedmont Realty Trust updated its FY 2025 guidance to 1.380-1.440 EPS.

Piedmont Realty Trust Trading Down 3.5%

Piedmont Realty Trust stock traded down $0.26 during trading on Friday, hitting $7.30. The company's stock had a trading volume of 221,442 shares, compared to its average volume of 959,085. The stock has a market capitalization of $908.48 million, a price-to-earnings ratio of -13.30 and a beta of 1.43. The stock's fifty day moving average is $7.40 and its 200 day moving average is $7.34. Piedmont Realty Trust has a 1-year low of $5.46 and a 1-year high of $11.11. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.79 and a current ratio of 1.67.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PDM shares. JPMorgan Chase & Co. cut their price target on Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Truist Financial cut their price target on Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.67.

Hedge Funds Weigh In On Piedmont Realty Trust

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Piedmont Realty Trust by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,346 shares of the real estate investment trust's stock worth $541,000 after acquiring an additional 3,187 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Piedmont Realty Trust by 28.5% in the first quarter. AQR Capital Management LLC now owns 332,286 shares of the real estate investment trust's stock valued at $2,449,000 after purchasing an additional 73,762 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Piedmont Realty Trust by 11.3% in the first 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 valued at $7,002,000 after purchasing an additional 96,182 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

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.