Piedmont Realty Trust (NYSE:PDM) Stock Price Expected to Rise, Truist Financial Analyst Says
Truist Financial has raised its price target for Piedmont Realty Trust (NYSE:PDM) from $9.00 to $10.00, maintaining a "buy" rating. This suggests a potential upside of 20.55% from the current stock price. Other analysts have mixed ratings, with one "buy," three "hold," and one "sell." The stock's average rating is "hold," with an average target price of $9.00.
Piedmont Realty Trust (NYSE:PDM - Get Free Report) had its price target raised by equities research analysts at Truist Financial from $9.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price objective would indicate a potential upside of 20.55% from the stock's current price.
PDM has been the subject of a number of other reports. Wall Street Zen upgraded Piedmont Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Piedmont Realty Trust in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $9.00.
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Piedmont Realty Trust Stock Performance
PDM stock traded up $0.07 during trading hours on Monday, hitting $8.30. 177,958 shares of the stock were exchanged, compared to its average volume of 910,311. Piedmont Realty Trust has a 12 month low of $5.46 and a 12 month high of $10.02. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $1.03 billion, a P/E ratio of -14.55 and a beta of 1.48. The company has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $7.87.
Piedmont Realty Trust (NYSE:PDM - Get Free Report) last announced its earnings results 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. Piedmont Realty Trust had a negative net margin of 12.44% and a negative return on equity of 4.51%. The company had revenue of $110.75 million during the quarter, compared to analysts' expectations of $141.46 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Piedmont Realty Trust's quarterly revenue was down .1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. On average, analysts forecast that Piedmont Realty Trust will post 1.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Piedmont Realty Trust
A number of institutional investors have recently modified their holdings of the business. Advisory Services Network LLC acquired a new stake in Piedmont Realty Trust in the third quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Piedmont Realty Trust by 214.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 3,005 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Piedmont Realty Trust in the 2nd quarter valued at approximately $36,000. Wolverine Asset Management LLC bought a new stake in shares of Piedmont Realty Trust during the 1st quarter valued at approximately $48,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Piedmont Realty Trust by 79.6% during the 3rd 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 last quarter. Institutional investors and hedge funds own 84.48% of the company's stock.
Piedmont Realty Trust Company Profile
(Get Free Report)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.
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