Piedmont Realty Trust, Inc. (NYSE:PDM) Stock Has Consensus Price Target of $10.67

by · The Cerbat Gem

Shares of Piedmont Realty Trust, Inc. (NYSE:PDM – Get Free Report) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.67.

A number of research firms have recently weighed in on PDM. Zacks Research raised Piedmont Realty Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Robert W. Baird boosted their target price on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Weiss Ratings lowered Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. increased their price target 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.

Check Out Our Latest Stock Report on PDM

Insider Buying and Selling at Piedmont Realty Trust

In related news, CFO Sherry Rexroad sold 4,446 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $8.81, for a total value of $39,169.26. Following the completion of the transaction, the chief financial officer owned 53,857 shares of the company’s stock, valued at approximately $474,480.17. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Punch & Associates Investment Management Inc. bought a new position in shares of Piedmont Realty Trust during the 1st quarter valued at $3,614,000. Public Employees Retirement System of Ohio acquired a new position in shares of Piedmont Realty Trust during the second quarter worth approximately $1,357,000. Wellington Management Group LLP raised its position in shares of Piedmont Realty Trust by 16.5% during the 2nd quarter. Wellington Management Group LLP now owns 3,350,794 shares of the real estate investment trust’s stock valued at $30,660,000 after acquiring an additional 474,144 shares during the last quarter. Bessemer Group Inc. boosted its stake in Piedmont Realty Trust by 63,822.3% during the 1st quarter. Bessemer Group Inc. now owns 474,943 shares of the real estate investment trust’s stock worth $3,120,000 after acquiring an additional 474,200 shares during the last quarter. Finally, Donald Smith & CO. Inc. bought a new position in Piedmont Realty Trust in the second quarter valued at approximately $17,788,000. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Realty Trust Trading Up 0.6%

NYSE:PDM opened at $9.69 on Friday. The firm has a market capitalization of $1.21 billion, a P/E ratio of -14.90 and a beta of 1.39. The company has a fifty day moving average of $9.35 and a 200 day moving average of $8.97. Piedmont Realty Trust has a 52 week low of $6.32 and a 52 week high of $10.13. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.53.

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

About Piedmont Realty Trust

(Get Free Report)

Piedmont Realty Trust, formally known as Piedmont Office Realty Trust, Inc (NYSE: PDM), is a self-managed real estate investment trust that owns, develops, acquires, leases and manages office properties in the United States. The company primarily focuses on high-quality office buildings serving corporate tenants and other organizations.

Piedmont’s portfolio has historically been concentrated in major office markets across the Sun Belt and eastern United States, including Atlanta, Boston, Dallas, Washington, DC, and other metropolitan areas.

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