Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc. engages in the owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. . Its activities include acquisition, investment, development, management, disposing, and ownership of commercial real estate properties throughout the United States. The company was founded on July 3, 1997 and is headquartered in Atlanta, GA.

Earnings data Q1 2021

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Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Piedmont Office Realty Trust excels in leasing and Sunbelt focus

Piedmont Office Realty Trust demonstrated strong performance in leasing, financial results, and strategic focus on Sunbelt markets and tenant needs.
While facing challenges from rising interest expenses and market variations, the company remains optimistic about growth opportunities and portfolio stability.
Renewal of key leases, limited tech layoffs exposure, and positive market prospects position Piedmont well for 2023 despite cautious asset sale plans.
Management's prudent approach to financial decisions and focus on core operations underscore Piedmont's resilience and adaptability in a changing market.

Piedmont Office Realty Trust (PDM) reports robust leasing and financial performance

Piedmont Office Realty Trust (PDM) showcased strong leasing performance and financial stability in Q1 2023. Despite market challenges, the company's strategy of offering quality workspaces at competitive rates is driving demand. Management is actively addressing concerns and exploring opportunities for future growth and partnerships.

Piedmont Office Realty Trust reports Q2 operational resilience and challenges

Piedmont Office Realty Trust (PDM) navigated Q2 2023 with a focus on refinancing, leasing success, and operational resilience. Despite facing challenges in growth and asset optimization, the company remains well-positioned to capitalize on market opportunities and drive operational growth.

Piedmont Office Realty Trust reports resilient performance amidst market challenges

Piedmont Office Realty Trust showcased strength in leasing and portfolio performance despite challenges in select submarkets.
The company remains optimistic about leasing trends and operational performance, aiming for an 87% lease percentage by year-end.
Strategic efforts to reduce debt, maintain liquidity, and capitalize on leasing opportunities position Piedmont for future growth.
Overall, Piedmont expressed confidence in the office sector, inviting further discussions and promoting itself as a compelling investment opportunity.

Piedmont Office Realty Trust surpasses leasing goals, eyes debt reduction

Piedmont Office Realty Trust showcased robust leasing performance, defying negative office space sentiments. The company's strategic leasing approach and debt refinancing efforts position it well for future growth. Challenges include limited acquisition activity and potential delays in occupancy projections.

Piedmont Office Realty Trust (PDM) excels in Q1 2024, eyes growth opportunities

Piedmont Office Realty Trust (PDM) delivered a strong performance in Q1 2024, driven by leasing momentum and balance sheet improvements.
The company's focus on core business, modern workplace environments, and strategic financial management positions it well for future growth.
While challenges like potential market troughs and execution risks exist, PDM's opportunities in targeted acquisitions and value-add strategies offer avenues for expansion.

Piedmont Office Realty Trust reports strong Q3 performance and optimistic outlook

Piedmont Office Realty Trust (PDM) delivers a strong performance in Q3 2024, marked by robust leasing activity and solid financial results.
The company's strong liquidity position, positive market trends, and future guidance reflect confidence in sustained growth and operational resilience.
While facing challenges in maintaining growth amidst market dynamics, Piedmont Office Realty Trust remains well-positioned to capitalize on opportunities for portfolio expansion and revenue enhancement.

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Piedmont Office Realty Trust, Inc. engages in the ownership, management, development, redevelopment, and operation of office properties. It operates through the following geographical segments: Atlanta, Dallas, Orlando, Northern Virginia/Washington, D.C., Minneapolis, New York, and Boston. The company was founded on July 3, 1997 and is headquartered in Atlanta, GA.

Piedmont Office Realty Trust, Inc. (NYSE:PDM ) Q3 2024 Earnings Conference Call October 25, 2024 9:00 AM ET Company Participants Laura Moon - Senior Vice President and Chief Accounting Officer Brent Smith - President and Chief Executive Officer George Wells - Executive Vice President and Chief Operating Officer Christopher Kollme - Executive Vice President, Investments Robert Bowers - Executive Vice President and Chief Financial and Administrative Officer Sherry Rexroad - Executive Vice President Finance Conference Call Participants Anthony Paolone - JPMorgan Michael Lewis - Truist Securities Nick Thillman - Baird Dylan Burzinski - Green Street Operator Greetings. Welcome to the Piedmont Office Realty Trust Incorporated Third Quarter 2024 Earnings Call.

Piedmont Office Realty Trust, Inc. (PDM) Q3 2024 Earnings Call Transcript

Although the revenue and EPS for Piedmont Office (PDM) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Piedmont Office (PDM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Piedmont Office (PDM) came out with quarterly funds from operations (FFO) of $0.36 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to FFO of $0.43 per share a year ago.

Piedmont Office (PDM) Q3 FFO and Revenues Miss Estimates

YTD Leasing of approximately Two Million SF lifts Portfolio to 88.8% Leased YTD Leasing of approximately Two Million SF lifts Portfolio to 88.8% Leased

Piedmont Office Realty Trust Reports Third Quarter 2024 Results

Piedmont REIT Signs over 461,000 SF of Leases during Third Quarter

Atlanta, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM), an owner of Class A office properties located primarily in major U.S. Sunbelt markets, including Orlando, FL, announced today that its property management team, after reviewing detailed property reports for all of the Company's Orlando assets, has reported virtually no damage to any of Piedmont's properties from Hurricane Milton and that all personnel in the affected areas are reported safe.

Piedmont Office Realty Trust Reports Virtually No Damage From Hurricane Milton

Atlanta, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Atlanta, GA – October 8, 2024 – Piedmont Office Realty Trust (NYSE: PDM) announced today that the Company will release its third quarter financial results on Thursday, October 24, 2024, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Friday, October 25, 2024 at 9:00 a.m. Eastern time and will be broadcast live in listen-only mode on the company's investor relations website at investor.piedmontreit.com. During the conference call, the Company's management team will review third quarter performance, discuss recent events, and conduct a question-and-answer period.

Piedmont Office Realty Trust, Inc. to Report Third Quarter 2024 Financial Results

Atlanta, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (NYSE:PDM) today announced that Robert E.

Piedmont Office Realty Trust, Inc. Announces CFO Transition

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Piedmont Office Realty Trust (PDM) Right Now?

Piedmont Office Realty Trust is an office REIT focused on the Sunbelt region, with the largest markets being Atlanta, Dallas, and Orlando. The REIT has significantly outperformed the Vanguard Real Estate Index Fund ETF in 2024, delivering a ~41% total return. Q2 2024 results were robust, but elevated interest rates prompted a downgrade in the full-year Core FFO expectations. I expect Core FFO to return to growth in 2025.

Piedmont Office: Core FFO Will Likely Trough In 2024 (Rating Upgrade)

Is Piedmont Office Realty Trust (PDM) Stock Undervalued Right Now?

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Piedmont Office Realty Trust, Inc. (NYSE:PDM ) Q2 2024 Earnings Conference Call August 1, 2024 9:00 AM ET Company Participants Laura Moon - Chief Accounting Officer & Senior Vice President Brent Smith - President, Chief Executive Officer & Director George Wells - Chief Operating Officer & Executive Vice President Chris Kollme - Executive Vice President-Investments and Strategy Bobby Bowers - Chief Financial & Administrative Officer- Executive Vice President Conference Call Participants Nick Thillman - Baird Dylan Burzinski - Green Street Michael Lewis - Truist Securities Operator Good day, and welcome to the Piedmont Office Realty Trust Incorporated Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.

Piedmont Office Realty Trust, Inc. (PDM) Q2 2024 Earnings Call Transcript

Although the revenue and EPS for Piedmont Office (PDM) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Piedmont Office (PDM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Piedmont Office (PDM) came out with quarterly funds from operations (FFO) of $0.37 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.45 per share a year ago.

Piedmont Office (PDM) Q2 FFO Match Estimates

- Completes over one million square feet of leasing during the quarter - - Completes over one million square feet of leasing during the quarter -

Piedmont Office Realty Trust Reports Second Quarter 2024 Results

Atlanta, July 25, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) (“Piedmont”), a real estate investment trust (REIT), announced today that its board of directors has declared a regular quarterly cash dividend of $0.125 per share, or $0.50 per share on an annualized basis, for the third quarter of 2024. The dividend will be paid on September 20, 2024 to stockholders of record as of the close of business on August 23, 2024.

PIEDMONT OFFICE REALTY TRUST DECLARES THIRD QUARTER DIVIDEND

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Atlanta, July 09, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) announced today that the Company will release its second quarter financial results on Wednesday, July 31, 2024, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Thursday, August 1, 2024 at 9:00 a.m. Eastern time and will be broadcast live in listen-only mode on the company's investor relations website at investor.piedmontreit.com. During the conference call, the Company's management team will review second quarter performance, discuss recent events, and conduct a question-and-answer period.

Piedmont Office Realty Trust, Inc. to Report Second Quarter 2024 Financial Results

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Atlanta, June 13, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (the “Company” or “Piedmont”) (NYSE:PDM) announced today that its operating partnership, Piedmont Operating Partnership, LP (the “Operating Partnership”), has priced an offering of $400 million aggregate principal amount of 6.875% senior unsecured notes due 2029 at 98.993% of the principal amount. The offering is expected to close on June 25, 2024, subject to the satisfaction of customary closing conditions.

Piedmont Office Realty Trust Announces Pricing of Senior Notes Offering

Atlanta, June 03, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont” or “the Company") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, announced today, that the Company will be participating at this week's NAREIT Investor Conference in New York City. The Company will be noting that it has completed over 575,000 square feet of leasing thus far in the second quarter of 2024, with approximately 60% of this total leased square footage related to new tenants and bringing year-to-date leasing volume to approximately 1.1 million square feet.

Piedmont REIT signs over 575,000 SF of Leases During April and May 2024

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Piedmont's (PDM) securing of a new lease with Travel + Leisure at Downtown, Orlando highlights solid demand for its office buildings.

Piedmont (PDM) Announces New Lease at 501 W. Church, Orlando

Will Result in the Relocation of Approximately 900 Jobs to Downtown Orlando Will Result in the Relocation of Approximately 900 Jobs to Downtown Orlando

News for Piedmont Office Realty Trust Stock (PDM)