Piedmont Realty Trust (NYSE:PDM) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Piedmont Realty Trust (NYSE:PDM) from a "sell" to a "hold" in its latest report, changing the stock's outlook from negative to neutral.
• Market consensus is currently a Hold with a $9.00 consensus price target; the stock was up about 5.6% and opened at $7.12, with a market cap near $890 million.
• Piedmont's latest quarter showed EPS of $0.35 that met estimates and revenue of $142.85 million that beat expectations, but the company reported a negative net margin (-14.8%) and negative return on equity (-5.44%).

Piedmont Realty Trust (NYSE:PDM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other research analysts have also weighed in on PDM. Weiss Ratings reissued a "sell (d-)" rating on shares of Piedmont Realty Trust in a research report on Thursday, January 22nd. Truist Financial dropped their price target on shares of Piedmont Realty Trust from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, March 9th. One research 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, the company presently has an average rating of "Hold" and a consensus price target of $9.00.

Piedmont Realty Trust Stock Up 5.6%

PDM opened at $7.12 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.30. The company's 50-day moving average is $7.36 and its 200 day moving average is $8.04. Piedmont Realty Trust has a fifty-two week low of $5.46 and a fifty-two week high of $9.19. The firm has a market capitalization of $889.52 million, a P/E ratio of -10.46 and a beta of 1.29.

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

Institutional Trading of Piedmont Realty Trust

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in Piedmont Realty Trust in the third quarter worth about $30,000. Kestra Advisory Services LLC bought a new stake in shares of Piedmont Realty Trust in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its position in shares of Piedmont Realty Trust by 214.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 3,005 shares during the period. Farther Finance Advisors LLC raised its position 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, Global Retirement Partners LLC raised its position in shares of Piedmont Realty Trust by 93.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,334 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 4,519 shares during the period. Institutional investors 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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