Piedmont Realty Trust (NYSE:PDM) Releases Quarterly Earnings Results, Meets Expectations

by · The Markets Daily

Piedmont Realty Trust (NYSE:PDM – Get Free Report) announced its earnings results on Wednesday. The real estate investment trust reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35, Zacks reports. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%.

Piedmont Realty Trust Price Performance

Shares of NYSE PDM traded down $0.30 during mid-day trading on Wednesday, reaching $8.47. The company had a trading volume of 1,190,948 shares, compared to its average volume of 753,484. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -14.85 and a beta of 1.26. The business’s 50-day simple moving average is $8.43 and its 200 day simple moving average is $8.35. Piedmont Realty Trust has a one year low of $5.46 and a one year high of $9.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.67 and a current ratio of 1.67.

Hedge Funds Weigh In On Piedmont Realty Trust

Several hedge funds have recently bought and sold shares of PDM. Advisory Services Network LLC bought a new stake in shares of Piedmont Realty Trust during the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its position in Piedmont Realty Trust by 214.6% during the second quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 3,005 shares in the last quarter. BNP Paribas Financial Markets lifted its stake 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 purchasing an additional 4,015 shares during the last quarter. Pitcairn Co. bought a new stake in Piedmont Realty Trust during the second quarter worth $96,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Piedmont Realty Trust in the 3rd quarter valued at $119,000. 84.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Thursday, January 22nd. Truist Financial boosted their price target on 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.00.

Read Our Latest Analysis on PDM

About Piedmont Realty Trust

(Get Free Report)

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.

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