Piedmont Realty Trust's (PDM) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Piedmont Realty Trust's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating ongoing concerns about its performance.
• Analysts have given varying ratings, with JPMorgan reducing the price target from $9.00 to $8.00, while Wall Street Zen upgraded it from "sell" to "hold." Overall, the average price target is set at $8.67.
• The company's quarterly earnings exceeded estimates with $0.36 earnings per share, but revenues fell to $111.13 million, below the expected $141.96 million, reflecting a year-over-year decline.

Piedmont Realty Trust (NYSE:PDM - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on PDM. JPMorgan Chase & Co. dropped their price objective 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. Wall Street Zen raised Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Piedmont Realty Trust presently has an average rating of "Hold" and an average price target of $8.67.

Piedmont Realty Trust Trading Down 0.8%

Shares of NYSE PDM opened at $8.57 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.67 and a current ratio of 1.67. The business's 50 day moving average price is $8.37 and its 200-day moving average price is $7.51. Piedmont Realty Trust has a fifty-two week low of $5.46 and a fifty-two week high of $11.11. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -15.58 and a beta of 1.52.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Piedmont Realty Trust had a negative return on equity of 4.32% and a negative net margin of 12.10%.The firm had revenue of $111.13 million for the quarter, compared to the consensus estimate of $141.96 million. During the same period in the prior year, the business posted $0.37 earnings per share. The company's revenue for the quarter was down 2.1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. On average, sell-side analysts expect that Piedmont Realty Trust will post 1.41 earnings per share for the current year.

Institutional Trading of Piedmont Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Management Group Inc. boosted its position in Piedmont Realty Trust by 4.1% during the 1st quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust's stock valued at $30,028,000 after acquiring an additional 160,453 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in Piedmont Realty Trust by 48.0% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust's stock valued at $9,013,000 after acquiring an additional 396,923 shares in the last quarter. GAMMA Investing LLC boosted its position in Piedmont Realty Trust by 540.9% during the 1st quarter. GAMMA Investing LLC now owns 23,636 shares of the real estate investment trust's stock valued at $174,000 after acquiring an additional 19,948 shares in the last quarter. Sonora Investment Management Group LLC boosted its position in Piedmont Realty Trust by 213.5% during the 2nd quarter. Sonora Investment Management Group LLC now owns 125,400 shares of the real estate investment trust's stock valued at $914,000 after acquiring an additional 85,400 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Piedmont Realty Trust by 55.1% during the 1st quarter. SG Americas Securities LLC now owns 626,950 shares of the real estate investment trust's stock valued at $4,621,000 after acquiring an additional 222,789 shares in the last quarter. 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.

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