Piedmont Office Realty Trust, Inc. (NYSE:PDM) Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) by 45.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,534,770 shares of the real estate investment trust's stock after purchasing an additional 478,560 shares during the quarter. JPMorgan Chase & Co. owned 1.24% of Piedmont Office Realty Trust worth $15,501,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. increased its position in shares of Piedmont Office Realty Trust by 72.5% in the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust's stock worth $1,519,000 after acquiring an additional 62,233 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Piedmont Office Realty Trust by 51.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,916 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,666 shares during the period. Geode Capital Management LLC increased its holdings in Piedmont Office Realty Trust by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust's stock valued at $32,499,000 after purchasing an additional 48,944 shares in the last quarter. Barclays PLC increased its holdings in Piedmont Office Realty Trust by 88.7% in the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust's stock valued at $2,398,000 after purchasing an additional 111,596 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Piedmont Office Realty Trust by 1.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 166,383 shares of the real estate investment trust's stock valued at $1,680,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 84.48% of the company's stock.

Analyst Ratings Changes

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 research note on Friday, November 1st.

Piedmont Office Realty Trust Stock Down 5.0 %

Shares of NYSE PDM traded down $0.44 during trading on Friday, reaching $8.39. 775,265 shares of the stock were exchanged, compared to its average volume of 675,811. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -13.53 and a beta of 1.19. The business's 50-day moving average price is $9.31 and its 200 day moving average price is $9.23. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.36. Piedmont Office Realty Trust, Inc. has a twelve month low of $5.93 and a twelve month high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last issued 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 firm 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 quarter in the prior year, the firm earned $0.43 EPS. As a group, equities analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current fiscal year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Friday, November 22nd. This represents a $0.50 dividend on an annualized basis and a yield of 5.96%. Piedmont Office Realty Trust's dividend payout ratio (DPR) is presently -80.65%.

Piedmont Office 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.