Piedmont Realty Trust (NYSE:PDM) Sees Large Volume Increase – Time to Buy?

Shares of Piedmont Realty Trust, Inc. (NYSE:PDM) saw unusually-high trading volume on Tuesday . Approximately 6,284,057 shares traded hands during mid-day trading, an increase of 484% from the previous session’s volume of 1,076,832 shares.The stock last traded at $9.4550 and had previously closed at $9.20.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Truist Financial reissued a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Realty Trust in a research report on Monday, June 15th. JPMorgan Chase & Co. lifted their target price on shares of Piedmont Realty Trust from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Weiss Ratings cut Piedmont Realty Trust from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird upped their price target on Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Piedmont Realty Trust currently has an average rating of “Hold” and a consensus target price of $10.67.

Piedmont Realty Trust Trading Up 3.0%

The stock has a market cap of $1.19 billion, a PE ratio of -14.58 and a beta of 1.36. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.53. The stock’s fifty day moving average price is $9.61 and its 200 day moving average price is $8.53.

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

Institutional Investors Weigh In On Piedmont Realty Trust

Several institutional investors have recently modified their holdings of the business. Centersquare Investment Management LLC grew its holdings in shares of Piedmont Realty Trust by 154.3% in the fourth quarter. Centersquare Investment Management LLC now owns 3,429,364 shares of the real estate investment trust’s stock worth $28,601,000 after acquiring an additional 2,080,658 shares during the period. Donald Smith & CO. Inc. purchased a new position in Piedmont Realty Trust in the second quarter worth about $17,788,000. Cohen & Steers Inc. grew its stake in shares of Piedmont Realty Trust by 13.8% during the 4th quarter. Cohen & Steers Inc. now owns 6,698,202 shares of the real estate investment trust’s stock valued at $55,863,000 after purchasing an additional 812,700 shares during the period. Wilsey Asset Management Inc. increased its position in shares of Piedmont Realty Trust by 15.4% during the 1st quarter. Wilsey Asset Management Inc. now owns 4,892,550 shares of the real estate investment trust’s stock valued at $32,144,000 after purchasing an additional 651,648 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. bought a new position in shares of Piedmont Realty Trust in the 1st quarter worth approximately $3,614,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Realty Trust Company Profile

Piedmont Office Realty Trust, Inc is a self-managed real estate investment trust that owns, leases and manages primarily Class A office properties. The company provides office space and related property services to corporate and institutional tenants, with an emphasis on well-located buildings in major U.S. business markets.

Piedmont’s portfolio has historically been concentrated in Sun Belt and other strategic office markets, including Atlanta, Boston, Dallas, Northern Virginia, Orlando, Southern California and the Washington, DC, area.