Piedmont Realty Trust (NYSE:PDM) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Piedmont shares passed above its 200-day moving average, with the 200-day at $7.98 and the stock trading as high as $8.10 (last $8.0930) on volume of 1,836,255 shares.
• Analysts are mixed but cautious: the consensus rating is "Hold" with an average price target of $9.00 (one Buy, one Hold, one Sell), alongside recent actions including a Wall Street Zen upgrade and Truist trimming its price target to $10.00.
• Recent fundamentals show Q1 EPS of $0.35 that matched estimates and revenue slightly above expectations, but the REIT has a negative return on equity (-5.44%) and negative net margin (-14.80%), a market cap near $1.01 billion and debt/equity of 1.49.

Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.98 and traded as high as $8.10. Piedmont Realty Trust shares last traded at $8.0930, with a volume of 1,836,255 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen upgraded Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Truist Financial dropped their price target on Piedmont Realty Trust from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, March 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Piedmont Realty Trust in a research report on Thursday, January 22nd. 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $9.00.

Piedmont Realty Trust Price Performance

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.01 billion, a PE ratio of -11.90 and a beta of 1.29. The company has a 50-day moving average of $7.24 and a 200 day moving average of $7.98.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Piedmont Realty Trust had a negative return on equity of 5.44% and a negative net margin of 14.80%.The firm had revenue of $142.85 million during the quarter, compared to analysts' expectations of $139.39 million. Sell-side analysts predict that Piedmont Realty Trust, Inc. will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Piedmont Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its stake in Piedmont Realty Trust by 11.8% during the fourth quarter. Hsbc Holdings PLC now owns 184,407 shares of the real estate investment trust's stock worth $1,538,000 after buying an additional 19,484 shares during the last quarter. Andrews Advisory Associates LLC acquired a new position in Piedmont Realty Trust during the fourth quarter worth $117,000. Inspire Investing LLC boosted its stake in Piedmont Realty Trust by 10.8% during the fourth quarter. Inspire Investing LLC now owns 55,857 shares of the real estate investment trust's stock worth $466,000 after buying an additional 5,440 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Piedmont Realty Trust during the fourth quarter worth $5,469,000. Finally, Amundi boosted its stake in Piedmont Realty Trust by 5.0% during the fourth quarter. Amundi now owns 66,177 shares of the real estate investment trust's stock worth $552,000 after buying an additional 3,147 shares during 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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