Piedmont Realty Trust (NYSE:PDM) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.48 and traded as high as $7.55. Piedmont Realty Trust shares last traded at $7.49, with a volume of 845,410 shares traded.

Analysts Set New Price Targets

PDM has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Truist Financial cut their target price on Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Piedmont Realty Trust has an average rating of "Hold" and an average target price of $8.67.

Piedmont Realty Trust Trading Down 0.7%

The firm has a market capitalization of $948.00 million, a P/E ratio of -15.55 and a beta of 1.43. The stock has a fifty day simple moving average of $7.19 and a 200 day simple moving average of $7.46. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.40.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $136.06 million for the quarter, compared to analysts' expectations of $141.29 million. Piedmont Realty Trust had a negative return on equity of 3.82% and a negative net margin of 10.80%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. As a group, research analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current year.

Insider Activity

In other news, CFO Sherry L. Rexroad purchased 16,850 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $5.95 per share, for a total transaction of $100,257.50. Following the completion of the acquisition, the chief financial officer owned 16,850 shares of the company's stock, valued at approximately $100,257.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Piedmont Realty Trust

Large investors have recently bought and sold shares of the business. Sterling Capital Management LLC increased its position in shares of Piedmont Realty Trust by 809.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 3,520 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Piedmont Realty Trust during the first quarter worth $48,000. Harbour Investments Inc. increased its position in shares of Piedmont Realty Trust by 25.4% during the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 1,216 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Piedmont Realty Trust during the fourth quarter worth $59,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Piedmont Realty Trust during the first quarter worth $71,000. Institutional investors own 84.48% of the company's stock.

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.