Key Points
- Piedmont Realty Trust CFO Sherry Rexroad sold 4,446 shares at an average price of $8.81, reducing her position by 7.63%. The transaction, worth $39,169, was made to cover tax withholding on vested equity awards.
- Piedmont’s stock opened at $9.01 and has traded between $6.32 and $10.13 over the past year. The company recently reported a quarterly loss of $0.09 per share, missing estimates, despite revenue exceeding analyst expectations.
- Analysts maintain a consensus “Hold” rating with an average price target of $10.67, while institutional investors own 84.48% of the company’s shares.
Piedmont Realty Trust, Inc. (NYSE:PDM - Get Free Report) CFO Sherry Rexroad sold 4,446 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $8.81, for a total transaction of $39,169.26. Following the completion of the sale, the chief financial officer owned 53,857 shares of the company's stock, valued at approximately $474,480.17. The trade was a 7.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Piedmont Realty Trust Trading Up 2.2%
Piedmont Realty Trust stock opened at $9.01 on Friday. The company's fifty day simple moving average is $9.50 and its 200-day simple moving average is $8.70. 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, Inc. has a 12 month low of $6.32 and a 12 month high of $10.13. The stock has a market cap of $1.13 billion, a P/E ratio of -13.85 and a beta of 1.39.
Piedmont Realty Trust (NYSE:PDM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%.The company had revenue of $144.12 million during the quarter, compared to analyst estimates of $133.68 million. Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. As a group, sell-side analysts forecast that Piedmont Realty Trust, Inc. will post 1.52 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PDM has been the subject of several research reports. Weiss Ratings lowered Piedmont Realty Trust from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price objective 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. Truist Financial reaffirmed a "buy" rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. Finally, Robert W. Baird raised their target price on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. 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 an average rating of "Hold" and a consensus target price of $10.67.
Check Out Our Latest Analysis on PDM
Institutional Trading of Piedmont Realty Trust
Several hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC grew its holdings in Piedmont Realty Trust by 93.9% in the 4th quarter. Global Retirement Partners LLC now owns 9,334 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 4,519 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Piedmont Realty Trust during the second quarter worth approximately $94,000. DGS Capital Management LLC boosted its position in shares of Piedmont Realty Trust by 9.5% in the first quarter. DGS Capital Management LLC now owns 15,980 shares of the real estate investment trust's stock valued at $105,000 after acquiring an additional 1,381 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Piedmont Realty Trust by 36.5% in the first quarter. Pictet Asset Management Holding SA now owns 22,562 shares of the real estate investment trust's stock valued at $148,000 after acquiring an additional 6,032 shares during the period. Finally, Waverly Advisors LLC bought a new stake in shares of Piedmont Realty Trust in the first quarter valued at approximately $153,000. Institutional investors own 84.48% of the company's stock.
About Piedmont Realty Trust
(
Get Free Report)
Piedmont Office Realty Trust, Inc (NYSE: PDM) is a self-managed real estate investment trust that owns, develops, acquires, leases and manages commercial office properties. The company focuses primarily on high-quality office buildings in major U.S. markets.
Piedmont's portfolio has historically been concentrated in the Sun Belt, with properties in markets such as Atlanta, Boston, Dallas, Los Angeles, New York, Orlando and Washington, DC Its properties serve businesses across a range of industries and typically include office space, parking and related tenant amenities.
The company generates revenue mainly by leasing office space to corporate and institutional tenants.
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