JPMorgan Chase & Co. Has $15.50 Million Stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM)

JPMorgan Chase & Co. grew its stake in Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 45.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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. owned 1.24% of Piedmont Office Realty Trust worth $15,501,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of Piedmont Office Realty Trust by 72.5% during the third quarter. Franklin Resources Inc. now owns 148,046 shares of the real estate investment trust’s stock worth $1,519,000 after purchasing an additional 62,233 shares during the period. TD Private Client Wealth LLC raised its stake 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 buying an additional 1,666 shares during the period. Geode Capital Management LLC raised its stake in shares of Piedmont Office Realty Trust by 1.5% in the third quarter. Geode Capital Management LLC now owns 3,217,213 shares of the real estate investment trust’s stock worth $32,499,000 after purchasing an additional 48,944 shares during the last quarter. Barclays PLC lifted its position in shares of Piedmont Office Realty Trust by 88.7% during the 3rd quarter. Barclays PLC now owns 237,407 shares of the real estate investment trust’s stock worth $2,398,000 after buying an additional 111,596 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Piedmont Office Realty Trust by 1.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 166,383 shares of the real estate investment trust’s stock worth $1,680,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Wall Street Analyst Weigh In

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

Piedmont Office Realty Trust Price Performance

NYSE PDM opened at $8.39 on Friday. 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 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, Inc. has a one year low of $5.93 and a one year high of $11.11. The stock has a 50-day moving average of $9.34 and a 200 day moving average of $9.21.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $143.56 million. Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. During the same period in the previous year, the company posted $0.43 earnings per share. On average, sell-side analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.49 EPS for the current year.

Piedmont Office Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 22nd were paid a $0.125 dividend. The ex-dividend date of this dividend 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 -80.65%.

About Piedmont Office Realty Trust

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.