Piedmont Realty Trust (NYSE:PDM) Upgraded to Strong-Buy at Zacks Research

by · The Markets Daily

Zacks Research upgraded shares of Piedmont Realty Trust (NYSE:PDM – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks reports.

A number of other brokerages also recently commented on PDM. JPMorgan Chase & Co. boosted 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 note on Wednesday, September 9th. Robert W. Baird increased their target price on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Finally, Weiss Ratings cut 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 Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.67.

Check Out Our Latest Stock Analysis on PDM

Piedmont Realty Trust Stock Up 0.6%

Piedmont Realty Trust stock traded up $0.06 during trading on Thursday, reaching $9.09. The stock had a trading volume of 1,402,425 shares, compared to its average volume of 1,535,376. Piedmont Realty Trust has a 52-week low of $6.32 and a 52-week high of $10.13. The business has a 50 day moving average price of $9.36 and a 200 day moving average price of $8.87. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.53. The stock has a market cap of $1.14 billion, a PE ratio of -13.98 and a beta of 1.39.

Piedmont Realty Trust (NYSE:PDM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%. The firm had revenue of $144.12 million for the quarter, compared to analyst estimates of $133.68 million. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. On average, analysts predict that Piedmont Realty Trust will post 1.53 EPS for the current year.

Insider Activity at Piedmont Realty Trust

In related news, CFO Sherry Rexroad sold 4,446 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $8.81, for a total value of $39,169.26. Following the completion of the sale, the chief financial officer owned 53,857 shares in the company, valued at $474,480.17. This represents a 7.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.20% of the stock is owned by insiders.

Institutional Trading of Piedmont Realty Trust

A number of large investors have recently bought and sold shares of the business. DGS Capital Management LLC lifted its stake in shares of Piedmont Realty Trust by 9.5% in the first quarter. DGS Capital Management LLC now owns 15,980 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 1,381 shares during the period. Tidal Investments LLC grew its position in Piedmont Realty Trust by 8.3% during the second quarter. Tidal Investments LLC now owns 26,594 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 2,044 shares during the period. Lazard Asset Management LLC grew its position in Piedmont Realty Trust by 5.5% during the first quarter. Lazard Asset Management LLC now owns 74,236 shares of the real estate investment trust’s stock worth $488,000 after buying an additional 3,856 shares during the period. Resona Asset Management Co. Ltd. grew its position in Piedmont Realty Trust by 8.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 56,293 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 4,467 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in Piedmont Realty Trust by 36.5% in the first quarter. Pictet Asset Management Holding SA now owns 22,562 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 6,032 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Realty Trust Company Profile

(Get Free Report)

Piedmont Office Realty Trust, Inc (NYSE: PDM) is a self-managed real estate investment trust that owns, develops, acquires, leases and manages commercial office properties. The company focuses primarily on high-quality office buildings in major U.S. markets.

Piedmont’s portfolio has historically been concentrated in the Sun Belt, with properties in markets such as Atlanta, Boston, Dallas, Los Angeles, New York, Orlando and Washington, DC Its properties serve businesses across a range of industries and typically include office space, parking and related tenant amenities.

The company generates revenue mainly by leasing office space to corporate and institutional tenants.

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