Piedmont Realty Trust (NYSE:PDM) Given New $10.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised Piedmont Realty Trust’s price target to $10 from $9 while maintaining a “neutral” rating, implying 3.79% upside from the prior close.
• Analyst sentiment remains mixed, with ratings averaging “Hold” and an average price target of $10.50; Truist maintained a “buy” rating, while Weiss Ratings downgraded the stock to “sell.”
• Piedmont reported quarterly EPS of negative $0.09, missing estimates by $0.03, although revenue of $144.12 million exceeded expectations. Institutional investors own 84.48% of the company, and the stock recently traded at $9.63.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) had its target price boosted by equities researchers at Robert W. Baird from $9.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Robert W. Baird's price target suggests a potential upside of 3.79% from the stock's previous close.

A number of other research firms have also weighed in on PDM. Weiss Ratings lowered shares of Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. Truist Financial reiterated a "buy" rating and issued a $11.00 target price (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.50.

Piedmont Realty Trust Trading Up 1.4%

Shares of Piedmont Realty Trust stock opened at $9.63 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of -14.82 and a beta of 1.35. Piedmont Realty Trust has a 52 week low of $6.32 and a 52 week high of $10.13. The stock has a 50 day moving average price of $9.41 and a two-hundred day moving average price of $8.32. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.36 and a current ratio of 1.36.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share 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 analyst estimates of $133.68 million. Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%.Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. As a group, equities analysts anticipate that Piedmont Realty Trust will post 1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in Piedmont Realty Trust in the 3rd quarter worth about $30,000. Kestra Advisory Services LLC bought a new position in Piedmont Realty Trust during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Piedmont Realty Trust by 214.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 3,005 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Piedmont Realty Trust by 93.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,334 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 4,519 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Piedmont Realty Trust by 59.7% in the second quarter. BNP Paribas Financial Markets now owns 10,741 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 4,015 shares during the period. Hedge funds and other institutional investors own 84.48% of the company's stock.

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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