Jump Financial LLC Makes New Investment in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

Jump Financial LLC bought a new stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 72,436 shares of the real estate investment trust's stock, valued at approximately $663,000. Jump Financial LLC owned approximately 0.06% of Piedmont Office Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in shares of Piedmont Office Realty Trust by 88.7% during the third 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 during the period. Geode Capital Management LLC lifted 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 worth $32,499,000 after buying an additional 48,944 shares in the last quarter. Franklin Resources Inc. boosted its position in Piedmont Office Realty Trust by 72.5% in the 3rd quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust's stock valued at $1,519,000 after buying an additional 62,233 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Piedmont Office Realty Trust by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 1,534,770 shares of the real estate investment trust's stock valued at $15,501,000 after acquiring an additional 478,560 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Piedmont Office Realty Trust by 4.2% during the fourth quarter. Nordea Investment Management AB now owns 736,832 shares of the real estate investment trust's stock worth $6,683,000 after acquiring an additional 29,960 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Office Realty Trust Trading Up 2.1 %

NYSE:PDM opened at $6.69 on Wednesday. The company has a market cap of $831.67 million, a PE ratio of -10.61 and a beta of 1.21. The business's 50 day moving average is $7.02 and its two-hundred day moving average is $8.53. The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.40. Piedmont Office Realty Trust, Inc. has a 52 week low of $5.81 and a 52 week high of $11.12.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $142.16 million. On average, analysts predict that Piedmont Office Realty Trust, Inc. will post 1.41 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors 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 7.48%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust's dividend payout ratio is presently -79.37%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PDM. StockNews.com upgraded Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a research note on Monday, February 17th. 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 research note on Tuesday, February 25th. Baird R W cut shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, Robert W. Baird decreased their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, February 24th.

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.

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