Piedmont Realty Trust, Inc. (NYSE:PDM) Short Interest Down 20.1% in January

Piedmont Realty Trust, Inc. (NYSE:PDM) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 3,252,183 shares, a decline of 20.1% from the January 15th total of 4,070,326 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 774,817 shares, the days-to-cover ratio is currently 4.2 days. Based on an average trading volume of 774,817 shares, the days-to-cover ratio is currently 4.2 days. Currently, 2.6% of the shares of the stock are short sold.

Piedmont Realty Trust Price Performance

Shares of NYSE PDM traded down $0.05 during trading on Tuesday, reaching $8.20. The company had a trading volume of 1,045,794 shares, compared to its average volume of 872,594. 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 has a twelve month low of $5.46 and a twelve month high of $9.19. The stock has a 50-day moving average price of $8.42 and a two-hundred day moving average price of $8.38. The stock has a market capitalization of $1.02 billion, a PE ratio of -12.06 and a beta of 1.26.

Piedmont Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $142.85 million during the quarter, compared to analysts’ expectations of $139.39 million. Piedmont Realty Trust had a negative return on equity of 5.40% and a negative net margin of 14.80%. As a group, sell-side analysts predict that Piedmont Realty Trust will post 1.41 earnings per share for the current year.

Institutional Investors Weigh In On Piedmont Realty Trust

Hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in shares of Piedmont Realty Trust during the 2nd quarter valued at about $683,000. Wolverine Asset Management LLC boosted its position in shares of Piedmont Realty Trust by 50.7% in the third quarter. Wolverine Asset Management LLC now owns 652,512 shares of the real estate investment trust’s stock worth $5,873,000 after acquiring an additional 219,418 shares during the last quarter. Geode Capital Management LLC grew its holdings in Piedmont Realty Trust by 1.4% in the second quarter. Geode Capital Management LLC now owns 3,418,028 shares of the real estate investment trust’s stock valued at $24,920,000 after purchasing an additional 46,198 shares during the period. Allianz Asset Management GmbH grew its holdings in Piedmont Realty Trust by 3.3% in the second quarter. Allianz Asset Management GmbH now owns 73,194 shares of the real estate investment trust’s stock valued at $534,000 after purchasing an additional 2,318 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in Piedmont Realty Trust by 13.9% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,368,573 shares of the real estate investment trust’s stock worth $12,317,000 after purchasing an additional 167,018 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PDM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Thursday, January 22nd. Truist Financial lifted their price target on Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.00.

About Piedmont Realty Trust

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.