1 week Ago By ABMN Staff
JPMorgan Chase & Co. lifted its stake in Piedmont Office Realty Trust, Inc. ( NYSE:PDM – Free Report ) by 16.
0% during the 4th quarter, Holdings Channel reports. 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.
’s holdings in Piedmont Office Realty Trust were worth $16,290,000 as of its most recent filing with the Securities & Exchange Commission. Several other institutional investors have also recently made changes to their positions in PDM. TD Private Client Wealth LLC increased its holdings in 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 worth $50,000 after acquiring an additional 1,666 shares in the last quarter. Harbour Investments Inc.
boosted its position in shares of Piedmont Office Realty Trust by 25.4% in the fourth quarter. Harbour Investments Inc.
now owns 6,004 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 1,216 shares during the period. Xponance Inc. bought a new stake in shares of Piedmont Office Realty Trust during the 4th quarter valued at $95,000.
Arkadios Wealth Advisors purchased a new position in shares of Piedmont Office Realty Trust during the 4th quarter valued at $105,000. Finally, Cibc World Markets Corp bought a new position in Piedmont Office Realty Trust in the 4th quarter worth $106,000. Institutional investors own 84.
48% of the company’s stock. Analysts Set New Price Targets A number of research firms have commented on PDM. Truist Financial reissued a “buy” rating and set a $10.
00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th. StockNews.
com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. 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. Finally, Robert W.
Baird reduced their price objective on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th.
Piedmont Office Realty Trust Stock Performance Shares of NYSE:PDM opened at $6.17 on Friday. The firm has a fifty day simple moving average of $7.
26 and a two-hundred day simple moving average of $8.70. Piedmont Office Realty Trust, Inc.
has a 52 week low of $5.81 and a 52 week high of $11.12.
The company has a quick ratio of 2.22, a current ratio of 2.10 and a debt-to-equity ratio of 1.
40. The stock has a market capitalization of $766.98 million, a P/E ratio of -9.
79 and a beta of 1.21. Piedmont Office Realty Trust ( NYSE:PDM – Get Free Report ) last released its quarterly earnings results on Thursday, February 13th.
The real estate investment trust reported $0.37 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 company had revenue of $143.23 million during the quarter, compared to analyst estimates of $142.16 million.
On average, analysts expect that Piedmont Office Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.
Piedmont Office Realty Trust Announces Dividend The business 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 annualized dividend and a dividend yield of 8.11%.
The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.
About Piedmont Office Realty Trust ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding PDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piedmont Office Realty Trust, Inc.
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