Truist Financial Reiterates Buy Rating for Piedmont Realty Trust (NYSE:PDM)

Piedmont Realty Trust (NYSE:PDM)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $11.00 target price on the real estate investment trust’s stock, up from their previous target price of $10.00. Truist Financial’s price target would suggest a potential upside of 20.84% from the company’s current price.

PDM has been the topic of several other research reports. Wall Street Zen upgraded Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings upgraded Piedmont Realty Trust from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.00.

Piedmont Realty Trust Stock Performance

Shares of Piedmont Realty Trust stock opened at $9.10 on Monday. The firm has a market cap of $1.14 billion, a P/E ratio of -13.00 and a beta of 1.38. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.52. Piedmont Realty Trust has a 12 month low of $6.32 and a 12 month high of $9.44. The stock’s fifty day moving average price is $8.05 and its 200-day moving average price is $8.01.

Piedmont Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $143.29 million for the quarter, compared to analysts’ expectations of $128.67 million. Piedmont Realty Trust had a negative net margin of 15.28% and a negative return on equity of 5.70%. Piedmont Realty Trust has set its FY 2026 guidance at 1.490-1.540 EPS. On average, equities research analysts expect that Piedmont Realty Trust will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piedmont Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Piedmont Realty Trust by 0.3% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 388,039 shares of the real estate investment trust’s stock valued at $3,236,000 after purchasing an additional 1,300 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Piedmont Realty Trust by 2.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 46,683 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 1,321 shares during the last quarter. Merit Financial Group LLC grew its stake in Piedmont Realty Trust by 2.1% in the fourth quarter. Merit Financial Group LLC now owns 67,292 shares of the real estate investment trust’s stock valued at $561,000 after purchasing an additional 1,356 shares during the last quarter. DGS Capital Management LLC grew its stake in 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 purchasing an additional 1,381 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Piedmont Realty Trust by 3.9% in the third quarter. Van ECK Associates Corp now owns 36,743 shares of the real estate investment trust’s stock valued at $330,000 after purchasing an additional 1,387 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

About Piedmont Realty Trust

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.