Squarepoint Ops LLC Invests $683,000 in Piedmont Realty Trust, Inc. $PDM

Squarepoint Ops LLC acquired a new stake in Piedmont Realty Trust, Inc. (NYSE:PDM) in the 2nd quarter, Holdings Channel reports. The firm acquired 93,632 shares of the real estate investment trust’s stock, valued at approximately $683,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Piedmont Realty Trust by 1.4% in the 2nd 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 increased its holdings in shares of Piedmont Realty Trust by 3.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 73,194 shares of the real estate investment trust’s stock worth $534,000 after purchasing an additional 2,318 shares during the period. Sonora Investment Management Group LLC raised its position in shares of Piedmont Realty Trust by 213.5% during the second quarter. Sonora Investment Management Group LLC now owns 125,400 shares of the real estate investment trust’s stock valued at $914,000 after buying an additional 85,400 shares during the last quarter. Strs Ohio bought a new stake in shares of Piedmont Realty Trust in the first quarter valued at about $1,305,000. Finally, CWM LLC grew its position in Piedmont Realty Trust by 165.6% during the second quarter. CWM LLC now owns 33,138 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 20,659 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

PDM has been the subject of several recent research reports. Truist Financial upped their price target on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Piedmont Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Piedmont Realty Trust Stock Performance

NYSE:PDM opened at $8.23 on Wednesday. The firm has a market capitalization of $1.02 billion, a PE ratio of -14.43 and a beta of 1.26. 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 $9.25. The firm has a 50-day moving average price of $8.34 and a 200 day moving average price of $8.11.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Piedmont Realty Trust had a negative return on equity of 4.51% and a negative net margin of 12.44%.The company had revenue of $110.75 million for the quarter, compared to analyst estimates of $141.46 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was down .1% compared to the same quarter last year. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

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.