Piedmont Realty Trust (NYSE:PDM) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Piedmont Realty Trust, Inc. (NYSE:PDM) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.79 and traded as high as $8.32. Piedmont Realty Trust shares last traded at $8.2810, with a volume of 682,775 shares traded.

Wall Street Analyst Weigh In

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

Piedmont Realty Trust Stock Up 0.7%

The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.43. The stock’s 50-day simple moving average is $8.50 and its 200 day simple moving average is $7.79. The firm has a market cap of $1.03 billion, a P/E ratio of -14.53 and a beta of 1.48.

Piedmont Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $110.75 million for 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 firm’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. As a group, research analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Piedmont Realty Trust

A number of hedge funds have recently added to or reduced their stakes in PDM. EverSource Wealth Advisors LLC raised its position in shares of Piedmont Realty Trust by 214.6% during the second quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 3,005 shares during the period. Ameritas Advisory Services LLC bought a new stake in Piedmont Realty Trust during the 2nd quarter valued at $36,000. Wolverine Asset Management LLC acquired a new position in Piedmont Realty Trust during the first quarter worth $48,000. Laurel Wealth Advisors LLC lifted its stake in shares of Piedmont Realty Trust by 629.0% in the second quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 6,718 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Piedmont Realty Trust by 79.6% during the third quarter. Farther Finance Advisors LLC now owns 7,444 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 3,299 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

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.