Piedmont Realty Trust (NYSE:PDM) CFO Sells $39,169.26 in Stock

Piedmont Realty Trust, Inc. (NYSE:PDM) CFO Sherry Rexroad sold 4,446 shares of Piedmont Realty Trust stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $8.81, for a total value of $39,169.26. Following the completion of the transaction, the chief financial officer directly owned 53,857 shares of the company’s stock, valued at approximately $474,480.17. This represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Piedmont Realty Trust Stock Performance

Shares of PDM stock opened at $9.01 on Monday. Piedmont Realty Trust, Inc. has a one year low of $6.32 and a one year high of $10.13. The company’s 50-day moving average is $9.50 and its 200 day moving average is $8.72. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -13.85 and a beta of 1.39. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.36 and a current ratio of 1.36.

Piedmont Realty Trust (NYSE:PDM) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $144.12 million during the quarter, compared to analysts’ expectations of $133.68 million. Piedmont Realty Trust had a negative return on equity of 5.39% and a negative net margin of 14.18%.Piedmont Realty Trust has set its FY 2026 guidance at 1.500-1.550 EPS. Sell-side analysts expect that Piedmont Realty Trust, Inc. will post 1.52 EPS for the current fiscal year.

Analyst Ratings Changes

PDM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Piedmont Realty Trust from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Robert W. Baird increased their target price on Piedmont Realty Trust from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Truist Financial reissued a “buy” rating and issued a $11.00 target price (up from $10.00) on shares of Piedmont Realty Trust in a report on Monday, June 15th. Finally, Weiss Ratings cut Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.67.

Institutional Investors Weigh In On Piedmont Realty Trust

A number of large investors have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its holdings in shares of Piedmont Realty Trust by 93.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,334 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 4,519 shares during the last quarter. Readystate Asset Management LP purchased a new stake in Piedmont Realty Trust during the second quarter valued at approximately $94,000. DGS Capital Management LLC increased its holdings in Piedmont Realty Trust by 9.5% during 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 buying an additional 1,381 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Piedmont Realty Trust in the second quarter worth approximately $168,000. Finally, HB Wealth Management LLC bought a new position in Piedmont Realty Trust in the second quarter worth approximately $204,000. 84.48% of the stock is currently owned by institutional investors.

Piedmont Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (NYSE: PDM) is a self-managed real estate investment trust that owns, develops, acquires, leases and manages commercial office properties. The company focuses primarily on high-quality office buildings in major U.S. markets.

Piedmont’s portfolio has historically been concentrated in the Sun Belt, with properties in markets such as Atlanta, Boston, Dallas, Los Angeles, New York, Orlando and Washington, DC Its properties serve businesses across a range of industries and typically include office space, parking and related tenant amenities.

The company generates revenue mainly by leasing office space to corporate and institutional tenants.