Piedmont Realty Trust (NYSE:PDM) Sets New 12-Month High – Here’s What Happened

Piedmont Realty Trust, Inc. (NYSE:PDM) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.78 and last traded at $9.7940, with a volume of 64713 shares trading hands. The stock had previously closed at $9.55.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PDM. Weiss Ratings upgraded shares of Piedmont Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Piedmont Realty Trust in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

Piedmont Realty Trust Trading Up 1.7%

The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.52. The company has a market cap of $1.21 billion, a PE ratio of -13.88 and a beta of 1.36. The stock has a 50 day moving average price of $8.80 and a 200 day moving average price of $8.13.

Piedmont Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Piedmont Realty Trust had a negative return on equity of 5.70% and a negative net margin of 15.28%.The firm had revenue of $143.29 million during the quarter, compared to the consensus estimate of $128.67 million. Piedmont Realty Trust has set its FY 2026 guidance at 1.490-1.540 EPS. Sell-side analysts predict that Piedmont Realty Trust, Inc. will post 1.5 EPS for the current fiscal year.

Institutional Trading of Piedmont Realty Trust

A number of hedge funds have recently made changes to their positions in the stock. Centersquare Investment Management LLC increased its stake in Piedmont Realty Trust by 154.3% during the 4th quarter. Centersquare Investment Management LLC now owns 3,429,364 shares of the real estate investment trust’s stock valued at $28,601,000 after purchasing an additional 2,080,658 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Piedmont Realty Trust by 368.8% during the second quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust’s stock valued at $14,262,000 after buying an additional 1,609,919 shares during the last quarter. Cohen & Steers Inc. grew its holdings in shares of Piedmont Realty Trust by 13.8% during the fourth quarter. Cohen & Steers Inc. now owns 6,698,202 shares of the real estate investment trust’s stock valued at $55,863,000 after buying an additional 812,700 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Piedmont Realty Trust during the fourth quarter valued at approximately $5,469,000. Finally, Wilsey Asset Management Inc. raised its holdings in Piedmont Realty Trust by 15.4% in the 1st quarter. Wilsey Asset Management Inc. now owns 4,892,550 shares of the real estate investment trust’s stock worth $32,144,000 after acquiring an additional 651,648 shares during the last quarter. 84.48% of the stock is owned by institutional investors.

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.