Piedmont Office Realty Trust, Inc. (NYSE:PDM) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 45.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,534,770 shares of the real estate investment trust’s stock after acquiring an additional 478,560 shares during the period. JPMorgan Chase & Co.’s holdings in Piedmont Office Realty Trust were worth $15,501,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Piedmont Office Realty Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,809 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,241 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Piedmont Office Realty Trust by 51.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,666 shares during the last quarter. Optas LLC acquired a new position in shares of Piedmont Office Realty Trust during the third quarter worth about $101,000. Meeder Asset Management Inc. acquired a new position in Piedmont Office Realty Trust during the second quarter worth $76,000. Finally, Sei Investments Co. acquired a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter valued at approximately $85,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM opened at $8.39 on Friday. The business’s 50-day simple moving average is $9.34 and its 200 day simple moving average is $9.21. The company has a market cap of $1.04 billion, a P/E ratio of -13.53 and a beta of 1.19. Piedmont Office Realty Trust, Inc. has a one year low of $5.93 and a one year high of $11.11. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.22 and a current ratio of 2.22.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). The business had revenue of $139.29 million during the quarter, compared to analyst estimates of $143.56 million. Piedmont Office Realty Trust had a negative return on equity of 4.61% and a negative net margin of 13.47%. During the same period in the prior year, the firm earned $0.43 EPS. On average, sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 22nd were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 5.96%. The ex-dividend date was Friday, November 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently -80.65%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird increased their target price on Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

Piedmont Office Realty Trust Company 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.