Piedmont Realty Trust, Inc. $PDM Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Piedmont Realty Trust by 13.0% to 2,221,209 shares (about 1.78% of the company), with institutional investors now owning roughly 84.48% of the stock.
• Piedmont shares traded at $6.60 (down 1.8%) with a market cap near $825M and a negative P/E (-9.70) and profit margins, though the company reported Q results of $0.35 EPS (in line) and $142.85M revenue (beat).
• Analyst coverage is mixed: the consensus rating is Hold with an average price target of $9.00, while individual ratings range from Buy (Truist, $10 PT) to Sell (Weiss, Wall Street Zen).

JPMorgan Chase & Co. raised its stake in Piedmont Realty Trust, Inc. (NYSE:PDM - Free Report) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,221,209 shares of the real estate investment trust's stock after buying an additional 255,519 shares during the period. JPMorgan Chase & Co. owned approximately 1.78% of Piedmont Realty Trust worth $19,991,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in shares of Piedmont Realty Trust in the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Piedmont Realty Trust by 214.6% during the second quarter. EverSource Wealth Advisors LLC now owns 4,405 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 3,005 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Piedmont Realty Trust by 79.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,444 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 3,299 shares during the period. Laurel Wealth Advisors LLC boosted its position in shares of Piedmont Realty Trust by 629.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,786 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 6,718 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Piedmont Realty Trust by 59.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,741 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 4,015 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company's stock.

Piedmont Realty Trust Stock Down 1.8%

NYSE:PDM opened at $6.60 on Wednesday. The business's fifty day moving average price is $7.83 and its 200 day moving average price is $8.23. The firm has a market capitalization of $824.63 million, a price-to-earnings ratio of -9.70 and a beta of 1.26. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.49. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. Piedmont Realty Trust had a negative return on equity of 5.44% and a negative net margin of 14.80%.The firm had revenue of $142.85 million during the quarter, compared to analyst estimates of $139.39 million. On average, sell-side analysts forecast that Piedmont Realty Trust, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PDM has been the topic of several recent analyst reports. Truist Financial cut their price objective on Piedmont Realty Trust from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Piedmont Realty Trust in a research report on Thursday, January 22nd. 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 assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Piedmont Realty Trust presently has a consensus rating of "Hold" and an average price target 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.

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