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 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.

Atlanta, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (NYSE: PDM) announced today that it has renewed all of U.S. Bancorp (NYSE: USB)'s 447,000 square-foot global headquarters at its 800 Nicollet Mall property in Minneapolis, MN.

U.S. BANCORP RENEWS 447,000 SF HEADQUARTERS IN MINNEAPOLIS, MN

Atlanta, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, today announced that it has signed a new 77,000 square-foot lease through 2036 with GE Vernova, a planned 2024 spinoff of General Electric Company that will focus on electrifying the world while simultaneously working to decarbonize it. The company has selected 600 Galleria Parkway, a LEED-Gold designated property and one of five buildings owned by Piedmont in Atlanta's Galleria on the Park, as one of its strategic U.S. locations.

GE Vernova Chooses Piedmont's Atlanta Galleria for New Strategic Hub

Atlanta, Oct. 25, 2023 (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 fourth quarter of 2023. The dividend will be paid on January 2, 2024 to stockholders of record as of the close of business on November 24, 2023.

PIEDMONT OFFICE REALTY TRUST DECLARES FOURTH QUARTER DIVIDEND

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Sharply higher long-term borrowing costs for real estate during late summer have been a huge headwind for REIT operations and investment valuations. The demand for commercial real estate, especially office space, is being questioned with the appearance of stay-at-home living/work trends. However, things change. A slower economy into 2024 could reverse interest rates lower and pinpoint a bottom in REIT pessimism.

9 REITs Blown Apart, Holding Serious 2024 Rebound Potential

Atlanta, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) announced today that the Company will release its third quarter financial results on Monday, October 30, 2023, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Tuesday, October 31, 2023, 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 2023 Financial Results

Piedmont Office Realty Trust is an undervalued office REIT with a yield of more than 9% and trading at less than $6/share. Despite a dividend cut and reduced outlook, the company is still considered a speculative "buy" due to potential market-beating upside. The company is in transition and shifting its business to focus on Sunbelt markets, which presents both risks and opportunities.

Piedmont Office: Calamitous Drops Don't Scare Us Out Of The Game

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“Value ranking, looks at the price of a stock relative to. intrinsic firm value. Graham Value Stocks match the criteria . Benjamin Graham followed. “—YCharts Value Screener. 66 August Value large caps and Graham formula-derived results reflect established value-stock detection-criteria. Of those, 56 met the dogcatcher-outrageous-ideal of dividends from $1K invested exceeding single-share-stock-prices. Representing nine-of-eleven Morningstar Sectors, all 56 ideal value-picks pay regular-dividends. Broker-target-top-ten net-gains ranged 33.15%-84.12%, topped by PDM & SQM, as-of 9/22/23.

66 Ben Graham October Value Stocks: 56 Outrageous Buys

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“Value ranking looks at the price of a stock relative to intrinsic firm value. Graham Value Stocks match the criteria Benjamin Graham followed." —YCharts Value Screener. 69 August Value large caps and Graham formula-derived results reflect established value stock detection criteria. Of those, 55 met the dogcatcher ridiculous ideal of dividends from $1K invested exceeding single share stock prices. Representing nine of eleven Morningstar Sectors, all 55 ideal value picks pay regular dividends. Broker target top ten net gains ranged 31.64%-73.39%, topped by PDM & PANL, as of 8/24/23.

69 Ben Graham September Value Stocks: 55 Ridiculous Buys

Investors need to pay close attention to Piedmont Office (PDM) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Piedmont Office (PDM) Stock?

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“Value ranking, looks at the price of a stock relative to intrinsic firm value. Graham Value Stocks match the criteria Benjamin Graham followed. “—YCharts Value Screener. 70 August Value large caps and Graham formula-derived results reflect established value stock detection criteria. Of those, 59 met our absurd ideal of dividends from $1K invested exceeding single share stock prices. Representing nine-of-eleven Morningstar Sectors, all 59 ideal value picks pay regular dividends. Broker-target-top-ten net gains ranged 27.38%-55.94%, topped by PDM & TRMD, as of 8/1/23.

70 Ben Graham August Value Stocks, 59 Absurd Buys

Piedmont Office Realty Trust reported positive Q2 leasing results, with most metrics in-line with expectations. But it is the recent refinancing activity and the subsequent dividend cut that is worth additional consideration. I view the decision on the refinancing activity as prudent, given current funding markets. And the reduced payout is in-line with my prior assessment.

Piedmont Office: Dividend News Distracts From Material Upside Potential In Share Price

Atlanta, July 25, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (“Piedmont” or the “Company”) (NYSE: PDM), today announced the results, as of 5:00 p.m., New York City time, on July 24, 2023 (the “Expiration Time”), of the previously announced cash tender offer of its operating partnership, Piedmont Operating Partnership, LP (the “Operating Partnership”), to purchase any and all of its outstanding 4.450% senior notes due 2024 (the “notes”). The cash tender offer was announced on July 18, 2023 and was made pursuant to the Offer to Purchase and the related Notice of Guaranteed Delivery, each dated July 18, 2023 (the “Tender Offer Documents”). The following table presents the aggregate principal amount of the notes tendered and not validly withdrawn and the aggregate principal amount of the notes tendered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents, in each case, as of the Expiration Time. Capitalized terms used but not defined herein shall have the meaning given to them in the Offer to Purchase.

PIEDMONT OFFICE REALTY TRUST ANNOUNCES RESULTS OF TENDER OFFER FOR ANY AND ALL OF ITS OUTSTANDING 4.450% SENIOR NOTES DUE 2024

Piedmont Office Realty Trust, Inc. (NYSE:PDM ) Q2 2023 Earnings Conference Call July 20, 2023 5:00 PM ET Company Participants Eddie Guilbert - Investor Relations Brent Smith - President and Chief Executive Officer George Wells - Executive Vice President and Chief Operating Officer Chris Kollme - Executive Vice President of Investments Bobby Bowers - Executive Vice President and Chief Financial and Administrative Officer Conference Call Participants Nicholas Thillman - Robert W. Baird & Co. Inc. Dylan Burzinski - Green Street Advisors Operator Good day, everyone and welcome to the Piedmont Office Realty Trust Inc's Second Quarter 2023 Earnings Call.

Piedmont Office Realty Trust, Inc. (PDM) Q2 2023 Earnings Call Transcript

Piedmont Office (PDM) came out with quarterly funds from operations (FFO) of $0.45 per share, missing the Zacks Consensus Estimate of $0.46 per share. This compares to FFO of $0.50 per share a year ago.

Piedmont Office (PDM) Misses Q2 FFO and Revenue Estimates

Atlanta, July 20, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont" or the "Company") (NYSE:PDM), an owner of Class A office properties located primarily in major U.S. Sunbelt markets, announced today that its operating partnership, Piedmont Operating Partnership, LP, has completed the issuance of $400 million aggregate principal amount of 9.25% senior unsecured notes due 2028 (the "2028 Notes"), rated BBB by S&P and Baa2 by Moody's. The net proceeds from the issuance will be used to fund the Company's pending tender offer for its outstanding unsecured senior notes due 2024 (the "2024 Notes").

Piedmont Office Realty Trust Announces Closing of Senior Notes Offering and Reports Second Quarter 2023 Results

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Prior to June 30, 2023, my readers mentioned 42 equities in their comments on my articles. Some bad-news investments (Rogues) mixed with (mostly) Favorites. Thus, these are ReFa/Ro. Ten analyst-target-estimated TOP-NET-GAIN Re/Fa/Ro: GGB, PFE, VFC, SB, GSL, BTI, PDM, PBR, SBSW, and IPOOF, averaged 65.57% net gains from reader data collected 7/17/23. Ten analyst-target-augured June TOP-PRICE-UPSIDE reader faves & rogues (ReFa/Ro) were: BRSP, GGB, PFE, VFC, SB, PDM, BPI, GSL, SBSW, & IPOOF boasting a 55.56% average target price upside estimate.

Readers Reveal 30 June Dividend Buys

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Real Estate Investment Trusts (REITs) offer a fairly straightforward and cost-effective way to gain exposure to real estate. Typically, two different types of publicly-traded REITs exist.

The 3 Most Undervalued REITS to Buy Now: July 2023

Atlanta, July 18, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (“Piedmont” or the “Company”) (NYSE: PDM) today announced that its operating partnership, Piedmont Operating Partnership, LP (the “Operating Partnership”), has commenced a cash tender offer to purchase any and all of its outstanding 4.450% senior notes due 2024 (the “notes”) for the consideration described below.

PIEDMONT OFFICE REALTY TRUST COMMENCES OFFER TO PURCHASE ANY AND ALL OF ITS OUTSTANDING 4.450% SENIOR NOTES DUE 2024

Piedmont Office Realty Trust is an office REIT that owns high-quality class-A office buildings mainly in the Sunbelt region. PDM stock is really cheap and the dividend is 11.09%. As a result of my analysis, I rate this as a Buy.

Piedmont Office Realty Trust: Really Cheap With An 11% Yield

Atlanta, July 10, 2023 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) announced today that the Company will release its second quarter financial results on Wednesday, July 26, 2023, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Thursday, July 27, 2023, 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 2023 Financial Results

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“Value ranking looks at the price of a stock relative to intrinsic firm value. Graham Value Stocks match the criteria Benjamin Graham followed.“—YCharts Value Screener. Here are 64 July value large caps and Graham formula-derived results that reflect established value-stock detection-criteria. Of those, 51 met the dogcatcher-ideal of dividends from $1K invested exceeding single-share-stock-prices. Representing nine-of-eleven Morningstar Sectors, all 51 ideal value-picks pay regular-dividends. Broker-target-top-ten net-gains ranged 38.26%-104.37%, topped by SBSW & PDM, as-of 6/23/23.

51 Ideal July Value Buys From Ben Graham

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A REIT that yields 10% or higher almost always means that investors perceive very low growth, or even worse, a potential dividend cut.

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"Value ranking looks at the price of a stock relative to intrinsic firm value. Graham Value Stocks match the criteria Benjamin Graham followed." — YCharts Value Screener. 67 June value large caps and Graham formula-derived results reflect established value stock detection criteria. Of those, 54 met the dogcatcher-ideal of dividends from $1K invested exceeding single-share stock prices. Representing eight of eleven Morningstar Sectors, all 54 ideal value picks pay regular dividends. Broker-target top-ten net gains ranged 34.55%-81.13%, topped by SBSW and PDM, as of 6/8/23.

54 Ideal June Value Buys From Benjamin Graham's Work

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“Value ranking, looks at the price of a stock relative to intrinsic firm value. Graham Value Stocks match the criteria. Benjamin Graham followed. “—YCharts Value Screener. 66 May Value large caps and Graham formula-derived results reflect established value-stock detection-criteria. Of those, 52 met the dogcatcher-ideal of dividends from $1K invested, exceeding single-share-stock-prices.

52 Ideal May Value Buys From Ben Graham

In this article, I'm going to balance my recently published piece on signs to look out for in a company, with a higher-risk investment that I believe may deliver. Piedmont is a small stake for me - compared to others, very small. However, I believe you may learn from this potential opportunity when it comes to overreactions.

Piedmont: Higher Risk, But Still Investment Grade 12.6% Yield

News for Piedmont Office Realty Trust Stock (PDM)