Piedmont Realty Trust, Inc. $PDM Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its holdings in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 744,743 shares of the real estate investment trust’s stock after purchasing an additional 1,517 shares during the period. Nordea Investment Management AB owned 0.60% of Piedmont Realty Trust worth $5,407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PDM. Allianz Asset Management GmbH grew its position in shares of Piedmont Realty Trust by 3.3% during the second quarter. Allianz Asset Management GmbH now owns 73,194 shares of the real estate investment trust’s stock worth $534,000 after acquiring an additional 2,318 shares during the last quarter. CWM LLC grew its position in shares of Piedmont Realty Trust by 165.6% during the second quarter. CWM LLC now owns 33,138 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 20,659 shares during the last quarter. Inspire Investing LLC grew its position in shares of Piedmont Realty Trust by 16.3% during the second quarter. Inspire Investing LLC now owns 54,266 shares of the real estate investment trust’s stock worth $396,000 after acquiring an additional 7,618 shares during the last quarter. Aberdeen Group plc grew its position in shares of Piedmont Realty Trust by 9.4% during the second quarter. Aberdeen Group plc now owns 34,778 shares of the real estate investment trust’s stock worth $254,000 after acquiring an additional 2,984 shares during the last quarter. Finally, Optas LLC bought a new position in shares of Piedmont Realty Trust during the second quarter worth about $137,000. 84.48% of the stock is owned by institutional investors and hedge funds.

Piedmont Realty Trust Stock Up 0.9%

Piedmont Realty Trust stock opened at $8.35 on Wednesday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -15.17 and a beta of 1.52. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average price is $8.47 and its two-hundred day moving average price is $7.57. Piedmont Realty Trust, Inc. has a 52 week low of $5.46 and a 52 week high of $10.89.

Piedmont Realty Trust (NYSE:PDM) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Piedmont Realty Trust had a negative net margin of 12.10% and a negative return on equity of 4.32%. The firm had revenue of $111.13 million for the quarter, compared to analysts’ expectations of $141.96 million. During the same quarter last year, the company earned $0.37 EPS. Piedmont Realty Trust’s quarterly revenue was down 2.1% on a year-over-year basis. Piedmont Realty Trust has set its FY 2025 guidance at 1.380-1.440 EPS. On average, analysts expect that Piedmont Realty Trust, Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on PDM shares. Wall Street Zen upgraded shares of Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Piedmont Realty Trust currently has a consensus rating of “Hold” and an average 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.