Jupiter Asset Management Ltd. Has $576,000 Stock Position in Piedmont Realty Trust, Inc. $PDM

Jupiter Asset Management Ltd. reduced its stake in Piedmont Realty Trust, Inc. (NYSE:PDM) by 7.5% during the 2nd quarter, Holdings Channel reports. The firm owned 78,987 shares of the real estate investment trust’s stock after selling 6,382 shares during the period. Jupiter Asset Management Ltd.’s holdings in Piedmont Realty Trust were worth $576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Piedmont Realty Trust in the first quarter valued at about $5,764,000. Wolverine Asset Management LLC increased its stake in shares of Piedmont Realty Trust by 6,504.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 433,094 shares of the real estate investment trust’s stock valued at $3,157,000 after acquiring an additional 426,536 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Piedmont Realty Trust by 48.0% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,222,986 shares of the real estate investment trust’s stock valued at $9,013,000 after acquiring an additional 396,923 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Piedmont Realty Trust in the 2nd quarter valued at approximately $2,819,000. Finally, Systematic Financial Management LP boosted its stake in Piedmont Realty Trust by 20.6% during the 1st quarter. Systematic Financial Management LP now owns 1,446,437 shares of the real estate investment trust’s stock worth $10,660,000 after acquiring an additional 247,171 shares during the last quarter. Institutional investors own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PDM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, Truist Financial set a $9.00 price target on shares of Piedmont Realty Trust in a research report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Piedmont Realty Trust currently has an average rating of “Hold” and a consensus price target of $8.67.

Piedmont Realty Trust Price Performance

Shares of PDM opened at $8.28 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a 50 day simple moving average of $8.50 and a 200 day simple moving average of $7.79. Piedmont Realty Trust, Inc. has a 52-week low of $5.46 and a 52-week high of $10.02. The firm has a market capitalization of $1.03 billion, a PE ratio of -14.53 and a beta of 1.48.

Piedmont Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $110.75 million for the quarter, compared to analyst estimates of $141.46 million. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Sell-side analysts predict that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

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.