Piedmont Realty Trust (NYSE:PDM) Price Target Cut to $10.00 by Analysts at Truist Financial

Key Points

• Truist Financial cut its price target for Piedmont Realty Trust from $11.00 to $10.00 but kept a "buy" rating, implying roughly a 38% upside from the stock's prior close.
• Analyst sentiment is mixed — one Buy, one Hold and one Sell — leaving a MarketBeat consensus of "Hold" with an average price target of $9.00.
• Piedmont shares opened at $7.24; the REIT reported $0.35 EPS in line with estimates and slightly beat revenue, but shows negative ROE and net margin and is ~84.5% held by institutions.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) had its price target reduced by equities researchers at Truist Financial from $11.00 to $10.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price target indicates a potential upside of 38.12% from the stock's previous close.

Several other equities analysts have also recently issued reports on PDM. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Piedmont Realty Trust in a report on Thursday, January 22nd. Wall Street Zen cut shares of Piedmont Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $9.00.

Piedmont Realty Trust Price Performance

Shares of PDM opened at $7.24 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.49. Piedmont Realty Trust has a twelve month low of $5.46 and a twelve month high of $9.19. The firm has a market capitalization of $903.91 million, a PE ratio of -10.65 and a beta of 1.26. The stock's 50 day moving average is $8.22 and its two-hundred day moving average is $8.37.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting analysts' consensus estimates of $0.35. The firm had revenue of $142.85 million for the quarter, compared to analyst estimates of $139.39 million. Piedmont Realty Trust had a negative return on equity of 5.44% and a negative net margin of 14.80%. Research analysts anticipate that Piedmont Realty Trust will post 1.41 earnings per share for the current year.

Hedge Funds Weigh In On Piedmont Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new stake in shares of Piedmont Realty Trust during the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC purchased a new stake in shares of Piedmont Realty Trust during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its position in shares of Piedmont Realty Trust by 214.6% during 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. Farther Finance Advisors LLC boosted its stake in shares of Piedmont Realty Trust by 79.6% in the third quarter. Farther Finance Advisors LLC now owns 7,444 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 3,299 shares during the period. Finally, Laurel Wealth Advisors LLC grew its holdings in Piedmont Realty Trust by 629.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 6,718 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company's stock.

Piedmont Realty Trust Company Profile

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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