Piedmont Realty Trust, Inc. (NYSE:PDM) Given Average Recommendation of “Hold” by Brokerages

Shares of Piedmont Realty Trust, Inc. (NYSE:PDM) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $9.00.

PDM has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. Wall Street Zen raised Piedmont Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, Truist Financial boosted their price objective on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, November 24th.

Institutional Trading of Piedmont Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in Piedmont Realty Trust in the 3rd quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its stake in Piedmont Realty Trust by 214.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 3,005 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Piedmont Realty Trust during the second quarter valued at approximately $36,000. Laurel Wealth Advisors LLC lifted its position in shares of Piedmont Realty Trust by 629.0% in the second quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 6,718 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake 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 worth $67,000 after acquiring an additional 3,299 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Piedmont Realty Trust Trading Up 1.7%

Piedmont Realty Trust stock opened at $8.78 on Wednesday. The firm has a market cap of $1.09 billion, a PE ratio of -15.41 and a beta of 1.26. Piedmont Realty Trust has a 12 month low of $5.46 and a 12 month high of $9.49. The stock’s 50 day simple moving average is $8.32 and its two-hundred day simple moving average is $8.08. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.43.

Piedmont Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $110.75 million for the quarter, compared to the consensus estimate of $141.46 million. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Analysts anticipate that Piedmont Realty Trust will post 1.41 earnings per share for the current year.

About Piedmont Realty Trust

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.