JPMorgan Chase & Co. Raises Holdings in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

JPMorgan Chase & Co. increased its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,780,288 shares of the real estate investment trust's stock after purchasing an additional 245,518 shares during the quarter. JPMorgan Chase & Co. owned about 1.44% of Piedmont Office Realty Trust worth $16,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PDM. TD Private Client Wealth LLC increased its holdings in shares of Piedmont Office Realty Trust by 51.3% in the third quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,666 shares during the period. Harbour Investments Inc. boosted its stake in Piedmont Office Realty Trust by 25.4% during the fourth quarter. Harbour Investments Inc. now owns 6,004 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 1,216 shares in the last quarter. Xponance Inc. bought a new position in Piedmont Office Realty Trust in the 4th quarter worth about $95,000. Arkadios Wealth Advisors bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $105,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Piedmont Office Realty Trust during the 4th quarter valued at about $106,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Baird R W downgraded Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 16th. Robert W. Baird reduced their target price on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. StockNews.com raised shares of Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Truist Financial restated a "buy" rating and issued a $10.00 price target (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

Piedmont Office Realty Trust Price Performance

PDM stock traded up $0.06 during mid-day trading on Thursday, reaching $6.53. The company's stock had a trading volume of 81,544 shares, compared to its average volume of 828,821. Piedmont Office Realty Trust, Inc. has a fifty-two week low of $5.81 and a fifty-two week high of $11.12. The stock has a market cap of $811.76 million, a PE ratio of -10.36 and a beta of 1.21. The company's 50 day moving average is $7.14 and its two-hundred day moving average is $8.63. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last posted its earnings results on Thursday, February 13th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The firm had revenue of $143.23 million for the quarter, compared to analyst estimates of $142.16 million. Equities research analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio (DPR) is currently -79.37%.

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.