Piedmont Realty Trust (NYSE:PDM) Reaches New 12-Month High - Here's Why

Key Points

• Piedmont Realty Trust shares reached a new 52-week high, trading as high as $10.05 and recently around $10.08, up from a prior close of $9.62.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $11.00. Truist Financial maintained a “Buy” rating and raised its target to $11.00.
• The REIT’s latest quarterly results missed on adjusted EPS, reporting a $0.09 loss versus the expected $0.06 loss, though revenue of $144.12 million exceeded estimates. Institutional investors own 84.48% of the stock, with several major funds increasing their positions.

Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $10.05 and last traded at $10.0810, with a volume of 78776 shares. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PDM shares. Weiss Ratings raised shares of Piedmont Realty Trust from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, June 23rd. Wall Street Zen raised shares of Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Finally, Truist Financial restated a "buy" rating and issued a $11.00 target price (up from $10.00) on shares of Piedmont Realty Trust in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.00.

Piedmont Realty Trust Stock Performance

The firm has a market capitalization of $1.25 billion, a PE ratio of -14.41 and a beta of 1.36. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a 50-day moving average price of $9.10 and a 200-day moving average price of $8.22.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $144.12 million during the quarter, compared to analyst estimates of $133.68 million. Piedmont Realty Trust had a negative return on equity of 5.70% and a negative net margin of 15.28%.Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. On average, research analysts expect that Piedmont Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Piedmont Realty Trust

A number of institutional investors have recently made changes to their positions in the business. Centersquare Investment Management LLC grew its position in shares of 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 buying an additional 2,080,658 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Piedmont Realty Trust by 368.8% in the second quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust's stock valued at $14,262,000 after acquiring an additional 1,609,919 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Piedmont Realty Trust by 13.8% in the fourth quarter. Cohen & Steers Inc. now owns 6,698,202 shares of the real estate investment trust's stock valued at $55,863,000 after acquiring an additional 812,700 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Piedmont Realty Trust during the 4th quarter valued at $5,469,000. Finally, Wilsey Asset Management Inc. boosted its stake in Piedmont Realty Trust by 15.4% during the 1st quarter. Wilsey Asset Management Inc. now owns 4,892,550 shares of the real estate investment trust's stock valued at $32,144,000 after acquiring an additional 651,648 shares during the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

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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