Piedmont Realty Trust, Inc. $PDM Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC raised its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 50.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 652,512 shares of the real estate investment trust’s stock after acquiring an additional 219,418 shares during the period. Wolverine Asset Management LLC owned approximately 0.52% of Piedmont Realty Trust worth $5,873,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 3,005 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Piedmont Realty Trust during the 2nd quarter worth approximately $36,000. Laurel Wealth Advisors LLC grew its stake in shares of Piedmont Realty Trust by 629.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 6,718 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Piedmont Realty Trust by 79.6% in 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 purchasing an additional 3,299 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Piedmont Realty Trust by 59.7% during the second quarter. BNP Paribas Financial Markets now owns 10,741 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 4,015 shares during the last quarter. 84.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.00.

Piedmont Realty Trust Stock Up 1.4%

PDM stock opened at $8.76 on Friday. The company has a 50 day moving average price of $8.39 and a two-hundred day moving average price of $8.21. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $1.09 billion, a P/E ratio of -15.36 and a beta of 1.26. Piedmont Realty Trust, Inc. has a one year low of $5.46 and a one year high of $9.19.

Piedmont Realty Trust (NYSE:PDM) last released its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Piedmont Realty Trust had a negative return on equity of 4.51% and a negative net margin of 12.44%.The business had revenue of $110.75 million during the quarter, compared to the consensus estimate of $141.46 million. During the same period in the prior year, the firm posted $0.36 EPS. The business’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, sell-side analysts expect that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current year.

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.