Martingale Asset Management L P Sells 70,642 Shares of Piedmont Realty Trust, Inc. $PDM

Martingale Asset Management L P lowered its holdings in Piedmont Realty Trust, Inc. (NYSE:PDM) by 68.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,363 shares of the real estate investment trust’s stock after selling 70,642 shares during the quarter. Martingale Asset Management L P’s holdings in Piedmont Realty Trust were worth $239,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Private Management Group Inc. raised its holdings in shares of Piedmont Realty Trust by 4.1% in the 1st quarter. Private Management Group Inc. now owns 4,074,332 shares of the real estate investment trust’s stock valued at $30,028,000 after purchasing an additional 160,453 shares in the last quarter. Wilsey Asset Management Inc. raised its stake in shares of Piedmont Realty Trust by 1.5% during the 1st quarter. Wilsey Asset Management Inc. now owns 4,011,630 shares of the real estate investment trust’s stock worth $29,566,000 after acquiring an additional 58,088 shares in the last quarter. Hudson Bay Capital Management LP raised its stake in shares of Piedmont Realty Trust by 58.8% during the 4th quarter. Hudson Bay Capital Management LP now owns 2,281,624 shares of the real estate investment trust’s stock worth $20,877,000 after acquiring an additional 845,098 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Piedmont Realty Trust by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 2,134,947 shares of the real estate investment trust’s stock worth $15,735,000 after acquiring an additional 28,088 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Piedmont Realty Trust by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,715,675 shares of the real estate investment trust’s stock worth $15,698,000 after acquiring an additional 218,365 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.

Piedmont Realty Trust Trading Down 0.4%

Shares of Piedmont Realty Trust stock opened at $8.12 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.41. Piedmont Realty Trust, Inc. has a 12-month low of $5.46 and a 12-month high of $11.11. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -14.75 and a beta of 1.46. The firm’s 50 day simple moving average is $7.57 and its two-hundred day simple moving average is $7.22.

Piedmont Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Piedmont Realty Trust had a negative net margin of 12.10% and a negative return on equity of 4.32%. The business had revenue of $111.13 million for the quarter, compared to analyst estimates of $141.96 million. During the same quarter in the prior year, the business posted $0.37 EPS. Piedmont Realty Trust’s revenue for the quarter was down 2.1% compared to the same quarter last year. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. Analysts predict that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PDM. Wall Street Zen upgraded shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. reduced their price objective on shares of Piedmont Realty Trust from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. Finally, Truist Financial reduced their price objective on shares of Piedmont Realty Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, May 20th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.67.

Piedmont Realty Trust Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.