Cbre Investment Management Listed Real Assets LLC Reduces Stake in Piedmont Realty Trust, Inc. $PDM

Cbre Investment Management Listed Real Assets LLC trimmed its position in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 43.0% during the second quarter, Holdings Channel reports. The firm owned 696,892 shares of the real estate investment trust’s stock after selling 526,094 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Piedmont Realty Trust were worth $5,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Savant Capital LLC raised its stake in shares of Piedmont Realty Trust by 55.0% during the 2nd quarter. Savant Capital LLC now owns 27,454 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 9,739 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Piedmont Realty Trust during the second quarter worth about $765,000. Wolverine Asset Management LLC raised its position in Piedmont Realty Trust by 6,504.1% during the second quarter. Wolverine Asset Management LLC now owns 433,094 shares of the real estate investment trust’s stock worth $3,157,000 after acquiring an additional 426,536 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Piedmont Realty Trust by 10.5% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 143,279 shares of the real estate investment trust’s stock valued at $1,045,000 after purchasing an additional 13,591 shares in the last quarter. Finally, Ethic Inc. grew its position in shares of Piedmont Realty Trust by 7.7% in the second quarter. Ethic Inc. now owns 39,513 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 2,828 shares during the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

Piedmont Realty Trust Trading Up 0.4%

Shares of PDM opened at $8.27 on Friday. Piedmont Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $10.45. The company has a market capitalization of $1.03 billion, a PE ratio of -14.50 and a beta of 1.48. The stock has a fifty day moving average of $8.54 and a two-hundred day moving average of $7.73. 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 announced its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $110.75 million during the quarter, compared to the consensus estimate of $141.46 million. Piedmont Realty Trust had a negative return on equity of 4.51% and a negative net margin of 12.44%.The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. As a group, analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Realty Trust Company 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.