Piedmont Realty Trust, Inc. $PDM Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,418,028 shares of the real estate investment trust’s stock after buying an additional 46,198 shares during the quarter. Geode Capital Management LLC’s holdings in Piedmont Realty Trust were worth $24,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wilsey Asset Management Inc. boosted its position in Piedmont Realty Trust by 2.6% during the 2nd quarter. Wilsey Asset Management Inc. now owns 4,115,288 shares of the real estate investment trust’s stock worth $30,000,000 after acquiring an additional 103,658 shares during the period. Wellington Management Group LLP lifted its position in shares of Piedmont Realty Trust by 1.3% in the first quarter. Wellington Management Group LLP now owns 2,134,947 shares of the real estate investment trust’s stock worth $15,735,000 after purchasing an additional 28,088 shares in the last quarter. Systematic Financial Management LP boosted its holdings in shares of Piedmont Realty Trust by 20.6% during the first quarter. Systematic Financial Management LP now owns 1,446,437 shares of the real estate investment trust’s stock worth $10,660,000 after purchasing an additional 247,171 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its position in Piedmont Realty Trust by 48.0% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust’s stock valued at $9,013,000 after purchasing an additional 396,923 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Piedmont Realty Trust by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 950,015 shares of the real estate investment trust’s stock valued at $7,002,000 after purchasing an additional 96,182 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Realty Trust Stock Performance

Shares of PDM opened at $8.74 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -15.33 and a beta of 1.48. The company’s fifty day moving average is $8.41 and its 200-day moving average is $7.92. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.43. Piedmont Realty Trust, Inc. has a 12 month low of $5.46 and a 12 month high of $9.80.

Piedmont Realty Trust (NYSE:PDM) last issued its quarterly earnings data 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. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The firm had revenue of $110.75 million during the quarter, compared to analysts’ expectations of $141.46 million. During the same period in the prior year, the company posted $0.36 earnings per share. Piedmont Realty Trust’s revenue for the quarter was down .1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Equities analysts expect that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PDM shares. Wall Street Zen upgraded shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Truist Financial increased their price objective on Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.00.

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.