Piedmont Realty Trust (NYSE:PDM) Share Price Passes Above Two Hundred 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.

Analyst Ratings Changes

A number of equities analysts have commented on PDM shares. Truist Financial reduced their target price on shares of Piedmont Realty Trust from $10.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their target price on Piedmont Realty Trust from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Four investment 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, Piedmont Realty Trust has a consensus rating of "Hold" and an average price target of $8.67.

Piedmont Realty Trust Trading Up 0.9%

The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.40. The company has a 50-day simple moving average of $7.11 and a 200 day simple moving average of $7.48. The firm has a market cap of $939.30 million, a PE ratio of -15.41 and a beta of 1.43.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.36 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 analyst estimates 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 business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, sell-side analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Piedmont Realty Trust

In other news, CFO Sherry L. Rexroad acquired 16,850 shares of Piedmont Realty Trust stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $5.95 per share, with a total value of $100,257.50. Following the purchase, the chief financial officer owned 16,850 shares in the company, valued at $100,257.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of Piedmont Realty Trust by 809.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,955 shares of the real estate investment trust's stock worth $36,000 after buying an additional 3,520 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Piedmont Realty Trust by 25.4% during the 4th 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 during the period. Point72 Hong Kong Ltd purchased a new position in shares of Piedmont Realty Trust during the 4th quarter worth $59,000. Wolverine Asset Management LLC purchased a new position in shares of Piedmont Realty Trust during the 1st quarter worth $48,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Piedmont Realty Trust during the 4th quarter worth $76,000. 84.48% of the stock is owned by institutional investors and hedge funds.

About Piedmont Realty Trust

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.