Piedmont Realty Trust (NYSE:PDM) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Piedmont Realty Trust, Inc. (NYSE:PDM) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.26 and traded as high as $8.41. Piedmont Realty Trust shares last traded at $8.3950, with a volume of 590,322 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on PDM shares. Truist Financial upped their price target on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Piedmont Realty Trust presently has a consensus rating of “Hold” and an average target price of $9.00.

Piedmont Realty Trust Stock Down 0.2%

The firm’s 50-day moving average price is $8.41 and its 200 day moving average price is $8.26. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -14.73 and a beta of 1.26.

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

Hedge Funds Weigh In On Piedmont Realty Trust

Institutional investors have recently modified their holdings of the business. Wilsey Asset Management Inc. raised its stake in Piedmont Realty Trust by 4.4% during the fourth quarter. Wilsey Asset Management Inc. now owns 4,240,902 shares of the real estate investment trust’s stock worth $35,369,000 after acquiring an additional 179,001 shares in the last quarter. LSV Asset Management grew its holdings in shares of Piedmont Realty Trust by 0.6% during the 3rd quarter. LSV Asset Management now owns 4,095,654 shares of the real estate investment trust’s stock valued at $36,861,000 after purchasing an additional 23,925 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Piedmont Realty Trust by 1.4% during 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 last quarter. Wellington Management Group LLP increased its position in Piedmont Realty Trust by 8.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,322,045 shares of the real estate investment trust’s stock worth $29,898,000 after purchasing an additional 248,993 shares in the last quarter. Finally, Hudson Bay Capital Management LP lifted its stake in Piedmont Realty Trust by 6.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 3,215,339 shares of the real estate investment trust’s stock valued at $28,938,000 after purchasing an additional 201,764 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Piedmont Realty Trust Company Profile

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.