Piedmont Realty Trust (NYSE:PDM) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Piedmont Realty Trust shares rose above their 200-day moving average of $8.69, reaching $9.03 before closing at $8.925 on elevated volume.
• Analyst sentiment remains mixed, with one Buy, two Hold, and one Sell rating; the consensus is Hold with an average price target of $10.67.
• The REIT missed quarterly EPS expectations, reporting a $0.09 loss per share versus a projected $0.06 loss, while institutional investors own a substantial 84.48% of its stock.

Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $8.69 and traded as high as $9.03. Piedmont Realty Trust shares last traded at $8.9250, with a volume of 3,150,262 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on PDM. JPMorgan Chase & Co. boosted their price target on Piedmont Realty Trust from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 9th. Robert W. Baird increased their price objective on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Weiss Ratings downgraded Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, July 30th. Finally, Truist Financial restated a "buy" rating and issued a $11.00 target price (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $10.67.

Piedmont Realty Trust Price Performance

The company has a market cap of $1.12 billion, a P/E ratio of -13.73 and a beta of 1.36. The stock has a 50-day simple moving average of $9.53 and a 200 day simple moving average of $8.69. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.36 and a current ratio of 1.36.

Piedmont Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Piedmont Realty Trust had a negative net margin of 14.18% and a negative return on equity of 5.39%. The business had revenue of $144.12 million during the quarter, compared to the consensus estimate of $133.68 million. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. On average, equities analysts expect that Piedmont Realty Trust, Inc. will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Piedmont Realty Trust

A number of hedge funds have recently made changes to their positions in the company. Punch & Associates Investment Management Inc. bought a new position in Piedmont Realty Trust during the 1st quarter valued at about $3,614,000. Public Employees Retirement System of Ohio bought a new stake in Piedmont Realty Trust during the second quarter worth about $1,357,000. Bessemer Group Inc. grew its stake in Piedmont Realty Trust by 63,822.3% during the first quarter. Bessemer Group Inc. now owns 474,943 shares of the real estate investment trust's stock worth $3,120,000 after buying an additional 474,200 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Piedmont Realty Trust by 16.5% during the second quarter. Wellington Management Group LLP now owns 3,350,794 shares of the real estate investment trust's stock worth $30,660,000 after buying an additional 474,144 shares in the last quarter. Finally, Donald Smith & CO. Inc. acquired a new stake in shares of Piedmont Realty Trust during the second quarter worth approximately $17,788,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Piedmont Realty Trust Company Profile

Piedmont Office Realty Trust, Inc is a self-managed real estate investment trust that owns, leases and manages primarily Class A office properties. The company provides office space and related property services to corporate and institutional tenants, with an emphasis on well-located buildings in major U.S. business markets.

Piedmont's portfolio has historically been concentrated in Sun Belt and other strategic office markets, including Atlanta, Boston, Dallas, Northern Virginia, Orlando, Southern California and the Washington, DC, area.

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