Piedmont Realty Trust (NYSE:PDM) Share Price Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• Piedmont Realty Trust shares rose 3.3% and moved above their 50-day moving average, trading near $9.49 versus a $9.34 average. The stock’s 200-day moving average is $8.61.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $10.75, although ratings range from Strong Buy to Sell.
• The REIT’s latest quarter showed mixed results: revenue exceeded estimates at $151.24 million, but adjusted earnings missed expectations, while the company reported negative net margin and return on equity.

Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report)'s stock price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $9.34 and traded as high as $9.52. Piedmont Realty Trust shares last traded at $9.4870, with a volume of 1,563,727 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on PDM. Zacks Research upgraded shares of Piedmont Realty Trust from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of Piedmont Realty Trust from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Wednesday, September 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Piedmont Realty Trust in a research note on Wednesday. Robert W. Baird upped their price objective on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Finally, Freedom Broker raised shares of Piedmont Realty Trust from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Piedmont Realty Trust has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Piedmont Realty Trust Trading Up 3.3%

The firm has a 50-day moving average of $9.34 and a 200-day moving average of $8.61. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.36 and a current ratio of 1.40. The firm has a market capitalization of $1.17 billion, a P/E ratio of -13.36 and a beta of 1.39.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data on Monday, October 26th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.11). The company had revenue of $151.24 million during the quarter, compared to the consensus estimate of $146.80 million. Piedmont Realty Trust had a negative net margin of 15.18% and a negative return on equity of 5.98%. On average, equities research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.55 EPS for the current fiscal year.

Insider Transactions at Piedmont Realty Trust

In other news, CFO Sherry Rexroad sold 4,446 shares of the company's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $8.81, for a total transaction of $39,169.26. Following the completion of the transaction, the chief financial officer directly owned 53,857 shares of the company's stock, valued at approximately $474,480.17. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Piedmont Realty Trust

A number of institutional investors have recently made changes to their positions in PDM. Readystate Asset Management LP bought a new stake in shares of Piedmont Realty Trust in the second quarter worth $94,000. DGS Capital Management LLC increased its stake in shares of Piedmont Realty Trust by 9.5% in the first quarter. DGS Capital Management LLC now owns 15,980 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 1,381 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Piedmont Realty Trust by 36.5% during the first quarter. Pictet Asset Management Holding SA now owns 22,562 shares of the real estate investment trust's stock valued at $148,000 after acquiring an additional 6,032 shares during the period. Waverly Advisors LLC bought a new position in Piedmont Realty Trust in the 1st quarter worth approximately $153,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Piedmont Realty Trust during the second quarter valued at approximately $168,000. Hedge funds and other institutional investors own 84.48% of the company's stock.

About Piedmont Realty Trust

Piedmont Realty Trust, formally known as Piedmont Office Realty Trust, Inc NYSE: PDM, is a self-managed real estate investment trust that owns, develops, acquires, leases and manages office properties in the United States. The company primarily focuses on high-quality office buildings serving corporate tenants and other organizations.

Piedmont's portfolio has historically been concentrated in major office markets across the Sun Belt and eastern United States, including Atlanta, Boston, Dallas, Washington, DC, and other metropolitan areas.

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