Piedmont Realty Trust, Inc. $PDM Shares Purchased by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP boosted its position in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 34.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,013,575 shares of the real estate investment trust’s stock after acquiring an additional 780,050 shares during the quarter. Hudson Bay Capital Management LP owned 2.42% of Piedmont Realty Trust worth $21,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Piedmont Realty Trust by 59.7% in the second quarter. BNP Paribas Financial Markets now owns 10,741 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 4,015 shares during the period. Brevan Howard Capital Management LP acquired a new stake in Piedmont Realty Trust during the 2nd quarter worth approximately $275,000. Bank of America Corp DE boosted its position in Piedmont Realty Trust by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 879,980 shares of the real estate investment trust’s stock valued at $6,415,000 after buying an additional 250,776 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Piedmont Realty Trust by 368.8% in the second quarter. Ameriprise Financial Inc. now owns 2,046,431 shares of the real estate investment trust’s stock worth $14,262,000 after acquiring an additional 1,609,919 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Piedmont Realty Trust by 67.0% in the second quarter. AQR Capital Management LLC now owns 554,945 shares of the real estate investment trust’s stock worth $4,046,000 after acquiring an additional 222,659 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Realty Trust Price Performance

Shares of NYSE PDM opened at $8.53 on Friday. The stock’s 50-day simple moving average is $8.32 and its 200-day simple moving average is $8.04. The firm has a market capitalization of $1.06 billion, a PE ratio of -14.97 and a beta of 1.26. Piedmont Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $9.49. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.67 and a current ratio of 1.67.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The company had revenue of $110.75 million for the quarter, compared to analysts’ expectations of $141.46 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. As a group, equities research analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PDM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. Truist Financial increased their price target on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Finally, Wall Street Zen raised Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Piedmont Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $9.00.

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.