Piedmont Office Realty Trust Inc. (NYSE: PDM) stock fell -5.39% on Thursday to $6.14 against a previous-day closing price of $6.49. With 1.18 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.59 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $6.27 whereas the lowest price it dropped to was $6.05. The 52-week range on PDM shows that it touched its highest point at $14.84 and its lowest point at $5.99 during that stretch. It currently has a 1-year price target of $11.25. With its current market cap of 749.76 million, PDM has annualized dividend of $0.84 while the current yield stands at 13.68%. Beta for the stock currently stands at 0.97.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PDM was down-trending over the past week, with a drop of -3.76%, but this was down by -0.49% over a month. Three-month performance dropped to -33.69% while six-month performance fell -40.33%. The stock lost -57.86% in the past year, while it has lost -33.04% so far this year. A look at the trailing 12-month EPS for PDM yields 0.69 with Next year EPS estimates of -0.02. For the next quarter, that number is -0.01. This implies an EPS growth rate of -102.50% for this year and 33.30% for next year. EPS is expected to grow by 4.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 5.30%.
Float and Shares Shorts:
At present, 123.55 million PDM shares are outstanding with a float of 122.26 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.35 million, which was 3.51% higher than short shares on Mar 30, 2023. In addition to Mr. Christopher Brent Smith as the firm’s Pres, CEO & Director, Mr. Robert E. Bowers CPA serves as its CFO, Exec. VP & Chief Admin. Officer.
Through their ownership of 87.11% of PDM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.87% of PDM, in contrast to 38.06% held by mutual funds. Shares owned by individuals account for 2.28%. As the largest shareholder in PDM with 15.98% of the stake, The Vanguard Group, Inc. holds 19,754,523 shares worth 19,754,523. A second-largest stockholder of PDM, BlackRock Fund Advisors, holds 10,673,044 shares, controlling over 8.63% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PDM, holding 6,227,041 shares or 5.04% stake. With a 4.39% stake in PDM, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 5,424,856 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of PDM stock, is the second-largest Mutual Fund holder. It holds 3,826,783 shares valued at 24.91 million. Capitol Series Trust – Fuller & T holds 2.76% of the stake in PDM, owning 3,413,153 shares worth 22.22 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PDM reported revenue of $136.31M and operating income of $21.80M. The EBITDA in the recently reported quarter was $75.59M and diluted EPS was $0.06.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PDM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PDM analysts setting a high price target of $14.00 and a low target of $8.50, the average target price over the next 12 months is $11.25. Based on these targets, PDM could surge 128.01% to reach the target high and rise by 38.44% to reach the target low. Reaching the average price target will result in a growth of 83.22% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PDM stock several times over the past three months with 7 Buys and 0 Sells. In these transactions, 94,198 shares were bought while 0 shares were sold. The number of buy transactions has increased to 57 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 467,826 while 136,996 shares were sold.