Greenland Capital Management LP Takes $2.28 Million Position in Piedmont Realty Trust, Inc. $PDM

Greenland Capital Management LP purchased a new stake in Piedmont Realty Trust, Inc. (NYSE:PDM) during the second quarter, according to its most recent filing with the SEC. The firm purchased 312,985 shares of the real estate investment trust’s stock, valued at approximately $2,282,000. Greenland Capital Management LP owned 0.25% of Piedmont Realty Trust at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new position in shares of Piedmont Realty Trust during the 2nd quarter worth approximately $36,000. Wolverine Asset Management LLC purchased a new stake in shares of Piedmont Realty Trust during the 1st quarter valued at $48,000. New Age Alpha Advisors LLC acquired a new stake in shares of Piedmont Realty Trust in the 1st quarter worth $71,000. Arkadios Wealth Advisors grew its stake in Piedmont Realty Trust by 13.0% during the 1st quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 1,500 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Piedmont Realty Trust in the second quarter valued at about $127,000. Institutional investors own 84.48% of the company’s stock.

Piedmont Realty Trust Price Performance

Shares of NYSE PDM opened at $8.12 on Wednesday. The firm’s 50 day simple moving average is $8.48 and its 200-day simple moving average is $7.84. Piedmont Realty Trust, Inc. has a 12 month low of $5.46 and a 12 month high of $10.02. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -14.25 and a beta of 1.48. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.67 and a quick ratio of 1.67.

Piedmont Realty Trust (NYSE:PDM) last posted its earnings results on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business 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 company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Analysts expect that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

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

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.