Piedmont Realty Trust (NYSE:PDM) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Piedmont Realty Trust (NYSE:PDM) from a hold rating to a sell rating in a research report report published on Saturday morning.

Several other research analysts have also weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Thursday, January 22nd. Truist Financial lifted their price objective on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.00.

Piedmont Realty Trust Stock Performance

Shares of NYSE:PDM opened at $7.61 on Friday. The company has a market capitalization of $949.48 million, a price-to-earnings ratio of -11.18 and a beta of 1.26. The firm’s 50 day simple moving average is $8.37 and its 200 day simple moving average is $8.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.30. Piedmont Realty Trust has a fifty-two week low of $5.46 and a fifty-two week high of $9.19.

Piedmont Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $142.85 million during the quarter, compared to analysts’ expectations of $139.39 million. Piedmont Realty Trust had a negative net margin of 14.80% and a negative return on equity of 5.44%. As a group, sell-side analysts forecast that Piedmont Realty Trust will post 1.41 earnings per share for the current year.

Institutional Trading of Piedmont Realty Trust

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Piedmont Realty Trust in the third quarter valued at $622,000. Squarepoint Ops LLC bought a new stake in Piedmont Realty Trust during the second quarter worth $683,000. Wolverine Asset Management LLC lifted its stake in Piedmont Realty Trust by 50.7% in the third quarter. Wolverine Asset Management LLC now owns 652,512 shares of the real estate investment trust’s stock valued at $5,873,000 after acquiring an additional 219,418 shares during the last quarter. Geode Capital Management LLC lifted its stake in Piedmont Realty Trust by 1.4% in the second 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 acquiring an additional 46,198 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Piedmont Realty Trust by 3.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 73,194 shares of the real estate investment trust’s stock valued at $534,000 after acquiring an additional 2,318 shares during the period. 84.48% of the stock is currently owned by institutional investors.

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.