Advisors Asset Management Inc. Buys New Shares in Piedmont Realty Trust, Inc. $PDM

Advisors Asset Management Inc. acquired a new stake in Piedmont Realty Trust, Inc. (NYSE:PDM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 69,098 shares of the real estate investment trust’s stock, valued at approximately $622,000.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Piedmont Realty Trust by 214.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 3,005 shares during the period. Laurel Wealth Advisors LLC boosted its position in shares of Piedmont Realty Trust by 629.0% in the second quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 6,718 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Piedmont Realty Trust by 79.6% in the third quarter. Farther Finance Advisors LLC now owns 7,444 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 3,299 shares in the last quarter. BNP Paribas Financial Markets increased its position in Piedmont Realty Trust by 59.7% during the second quarter. BNP Paribas Financial Markets now owns 10,741 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 4,015 shares during the period. Finally, Pitcairn Co. acquired a new stake in Piedmont Realty Trust in the 2nd quarter worth about $96,000. 84.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on PDM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Thursday, January 22nd. Truist Financial lifted their price objective 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. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Piedmont Realty Trust Trading Down 3.5%

NYSE PDM opened at $7.92 on Thursday. Piedmont Realty Trust, Inc. has a 12 month low of $5.46 and a 12 month high of $9.19. 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 business has a fifty day simple moving average of $8.41 and a 200 day simple moving average of $8.37. The firm has a market capitalization of $985.58 million, a P/E ratio of -11.64 and a beta of 1.26.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $142.85 million during the quarter, compared to the consensus estimate of $139.39 million. Piedmont Realty Trust had a negative net margin of 14.80% and a negative return on equity of 5.40%. On average, analysts predict that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

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.