JPMorgan Chase & Co. Has $19.99 Million Position in Piedmont Realty Trust, Inc. $PDM

JPMorgan Chase & Co. lifted its stake in shares of Piedmont Realty Trust, Inc. (NYSE:PDM) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,221,209 shares of the real estate investment trust’s stock after purchasing an additional 255,519 shares during the quarter. JPMorgan Chase & Co. owned 1.78% of Piedmont Realty Trust worth $19,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PDM. M&T Bank Corp boosted its position in Piedmont Realty Trust by 12.8% in the second quarter. M&T Bank Corp now owns 13,549 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 1,540 shares in the last quarter. Hanover Advisors Inc. boosted its holdings in shares of Piedmont Realty Trust by 14.3% during the 3rd quarter. Hanover Advisors Inc. now owns 13,499 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 1,685 shares in the last quarter. Sonora Investment Management Group LLC boosted its holdings in shares of Piedmont Realty Trust by 2.0% during the 3rd quarter. Sonora Investment Management Group LLC now owns 127,900 shares of the real estate investment trust’s stock valued at $1,151,000 after acquiring an additional 2,500 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Piedmont Realty Trust by 6.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 43,865 shares of the real estate investment trust’s stock worth $320,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Csenge Advisory Group increased its holdings in Piedmont Realty Trust by 17.0% in the 3rd quarter. Csenge Advisory Group now owns 18,123 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 2,630 shares in the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Realty Trust Price Performance

Shares of PDM opened at $7.52 on Tuesday. The business has a 50-day moving average of $8.29 and a 200-day moving average of $8.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $939.25 million, a price-to-earnings ratio of -11.06 and a beta of 1.26. Piedmont Realty Trust, Inc. has a 1 year low of $5.46 and a 1 year high of $9.19.

Piedmont Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Piedmont Realty Trust had a negative net margin of 14.80% and a negative return on equity of 5.44%. The business had revenue of $142.85 million during the quarter, compared to the consensus estimate of $139.39 million. As a group, equities research analysts anticipate that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PDM. Weiss Ratings reissued a “sell (d-)” rating on shares of Piedmont Realty Trust in a research note on Thursday, January 22nd. Truist Financial lifted their target price on shares of Piedmont Realty Trust from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Finally, Wall Street Zen lowered shares of Piedmont Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

About Piedmont Realty Trust

Piedmont Realty Trust is a real estate investment trust (REIT) headquartered in Atlanta, Georgia, that focuses on the ownership, acquisition and management of office properties. The company’s portfolio comprises a mix of multi-tenant and single-tenant buildings, with a particular emphasis on small- to mid-size office campuses and urban infill properties. Piedmont Realty Trust structures its leases and property services to support a diversified base of tenants, including professional services firms, government agencies and technology companies.

The company’s operating model combines property management, leasing and strategic capital allocation to enhance asset value and drive income stability.