Wolverine Asset Management LLC Purchases 426,536 Shares of Piedmont Realty Trust, Inc. $PDM

Wolverine Asset Management LLC increased its position in Piedmont Realty Trust, Inc. (NYSE:PDM) by 6,504.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 433,094 shares of the real estate investment trust’s stock after acquiring an additional 426,536 shares during the quarter. Wolverine Asset Management LLC’s holdings in Piedmont Realty Trust were worth $3,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PDM. Ameritas Advisory Services LLC bought a new stake in shares of Piedmont Realty Trust in the second quarter worth $36,000. New Age Alpha Advisors LLC bought a new stake in shares of Piedmont Realty Trust in the first quarter worth $71,000. Ballentine Partners LLC bought a new stake in shares of Piedmont Realty Trust in the first quarter worth $82,000. Arkadios Wealth Advisors grew its holdings in shares of Piedmont Realty Trust by 13.0% in the first quarter. Arkadios Wealth Advisors now owns 13,002 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 1,500 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Piedmont Realty Trust in the first quarter worth $134,000. Institutional investors own 84.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PDM has been the subject of several research analyst reports. Truist Financial set a $9.00 price objective on Piedmont Realty Trust in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Piedmont Realty Trust in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Piedmont Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.67.

Piedmont Realty Trust Price Performance

NYSE PDM opened at $8.07 on Friday. The company has a market capitalization of $1.00 billion, a PE ratio of -14.15 and a beta of 1.52. 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 business’s fifty day moving average is $8.54 and its 200 day moving average is $7.68. Piedmont Realty Trust, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $10.72.

Piedmont Realty Trust (NYSE:PDM) last released its earnings results on Monday, October 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $110.75 million for the quarter, compared to the consensus estimate of $141.46 million. Piedmont Realty Trust had a negative return on equity of 4.51% and a negative net margin of 12.44%.Piedmont Realty Trust’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Piedmont Realty Trust has set its FY 2025 guidance at 1.400-1.420 EPS. Sell-side analysts predict that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

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.