Piedmont Realty Trust (NYSE:PDM) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Piedmont Realty Trust, Inc. (NYSE:PDM) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $8.60 and traded as high as $9.48. Piedmont Realty Trust shares last traded at $9.4050, with a volume of 1,166,328 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. Robert W. Baird boosted their target price on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. JPMorgan Chase & Co. upped their target price on shares of Piedmont Realty Trust from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Finally, Weiss Ratings cut shares of Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Piedmont Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $10.67.

Piedmont Realty Trust Price Performance

The firm has a market cap of $1.15 billion, a PE ratio of -14.13 and a beta of 1.36. The firm has a fifty day simple moving average of $9.59 and a two-hundred day simple moving average of $8.61. 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) last issued its quarterly earnings data 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). The firm had revenue of $144.12 million for the quarter, compared to analysts’ expectations of $133.68 million. Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%.Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. Equities analysts predict that Piedmont Realty Trust, Inc. will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Piedmont Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Centersquare Investment Management LLC increased its holdings in shares of Piedmont Realty Trust by 154.3% in the 4th quarter. Centersquare Investment Management LLC now owns 3,429,364 shares of the real estate investment trust’s stock worth $28,601,000 after buying an additional 2,080,658 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in Piedmont Realty Trust in the second quarter worth about $17,788,000. Cohen & Steers Inc. increased its stake in 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 worth $55,863,000 after acquiring an additional 812,700 shares during the last quarter. Wilsey Asset Management Inc. increased its stake in Piedmont Realty Trust by 15.4% during the first 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. Finally, Punch & Associates Investment Management Inc. purchased a new stake in Piedmont Realty Trust during the first quarter valued at approximately $3,614,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

About Piedmont Realty Trust

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.