Atlanta, GA, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Piedmont Realty Trust (NYSE: PDM) announced today that the Company will release its third quarter financial results on Monday, October 27, 2025, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Tuesday, October 28, 2025, at 9:00 a.m. ET and will be broadcast live in listen-only mode on the company’s investor relations website. During the conference call, the Company’s management team will review third quarter perform ...

Core Viewpoint - Cabral Gold Inc. has expanded the gold-in-oxide blanket at the PDM target by 50%, indicating a significantly larger resource base, and has discovered two new zones of primary gold mineralization in the Cuiu Cuiu Gold District [3][15]. Group 1: Drill Results and Resource Expansion - Recent drilling results from 10 RC drill holes and 6 diamond drill holes have confirmed the expansion of the gold-in-oxide mineralized blanket from 0.26 km² to 0.39 km², representing a 50% increase [5][15]. - The number of NW trending primary mineralized zones at PDM has increased from two to four, with these zones remaining open along strike to the north and south [3][5]. - Significant drill results include 6m @ 2.74 g/t gold from 9m depth in hole RC0579, which includes 1m @ 13.06 g/t gold from 10m depth [5][13]. Group 2: Ongoing Drilling and Future Targets - Drilling is currently in progress at the previously untested Mutum target, where surface trenches have shown gold values averaging 0.9 to 1 g/t [3][15]. - Additional drilling is also taking place at the Machichie and Machichie NE targets, with previous results indicating high-grade intercepts [16][21]. Group 3: Financial and Operational Updates - The construction capex for the gold-in-oxide starter operation is estimated at US$37.7 million, with a post-tax IRR of 78% and an NPV of US$73.9 million based on a gold price of US$2,500 per ounce [21]. - The company is focused on securing construction financing while completing detailed engineering for the project and building its construction and operating team [22]. Group 4: Company Overview - Cabral Gold Inc. is a junior resource company focused on the exploration and development of gold properties in Brazil, particularly in the Cuiú Cuiú gold district [23]. - The Cuiú Cuiú project has defined three main gold deposits with NI 43-101 compliant resources totaling 12.29 million tonnes at 1.14 g/t gold in fresh basement material and 13.56 million tonnes at 0.50 g/t gold in oxide material [23].

Group 1 - As of September 11, 2025, two stocks in the real estate sector are signaling potential warnings for momentum-focused investors [1] - The Relative Strength Index (RSI) is a key momentum indicator, with values above 70 indicating that a stock may be overbought [2] - Opendoor Technologies Inc has seen a stock price increase of approximately 154% over the past month, with a current RSI value of 74 [6] - Piedmont Realty Trust Inc has experienced a stock price increase of around 16% over the past month, with a current RSI value of 70.5 [6] Group 2 - Opendoor Technologies Inc's stock closed at $5.86 after a decline of 4.1% on Wednesday [6] - Piedmont Realty Trust Inc's stock closed at $8.70 after an increase of 1.5% on Wednesday [6] - Opendoor Technologies Inc reached a 52-week high of $7.32, while Piedmont Realty Trust Inc reached a 52-week high of $11.12 [6]

Group 1 - As of September 11, 2025, two stocks in the real estate sector are showing signs of being overbought, which may concern momentum-focused investors [1] - The Relative Strength Index (RSI) is a key momentum indicator, with values above 70 indicating that a stock may be overbought [2] - Opendoor Technologies Inc has seen a stock price increase of approximately 154% over the past month, with an RSI value of 74, indicating overbought conditions [6] - Piedmont Realty Trust Inc's stock has increased by around 16% over the past month, with an RSI value of 70.5, also suggesting overbought conditions [6] Group 2 - Opendoor Technologies Inc's stock closed at $5.86 after a decline of 4.1% on Wednesday [6] - Piedmont Realty Trust Inc's stock closed at $8.70 after gaining 1.5% on Wednesday [6] - Opendoor Technologies Inc reached a 52-week high of $7.32, while Piedmont Realty Trust Inc reached a 52-week high of $11.12 [6]

Core Insights - Piedmont Realty Trust (PDM) has completed over 500,000 square feet of leases, with more than 400,000 square feet from new tenants in Q3 through September 9, 2025 [1][7] - The company is experiencing strong leasing activity, particularly in Minneapolis and the Sunbelt regions, with a goal to lease between 2.2 and 2.4 million square feet by 2025 [3][7] - The leasing of nearly 85% of new tenant leases pertains to previously vacant spaces, contributing to a significant increase in occupancy and rental income [2] Leasing Activity - Year-to-date leasing volume has exceeded 1.5 million square feet, indicating robust demand [2] - The out-of-service portfolio is now over 50% leased, with approximately 178,000 square feet of new tenant leases related to this segment [2] Management Commentary - The CEO, Brent Smith, noted that July and August 2025 saw record levels of tenant demand, with five leases signed for full floors, showcasing the appeal of renovated buildings [3] - The company remains well-positioned to navigate market challenges, supported by long-term leases with creditworthy tenants [4] Stock Performance - Over the past three months, shares of Piedmont Realty Trust have increased by 11.5%, outperforming the industry growth of 0.3% [4]

Company Overview - Piedmont Realty Trust, Inc. is a fully integrated, self-managed real estate investment company focused on delivering exceptional office environments, owning and managing approximately 16 million square feet of Class A properties across major U.S. Sunbelt markets [3] Leasing Activity - The company has completed over 500,000 square feet of leasing in the third quarter, with more than 400,000 square feet related to new tenants, indicating strong leasing momentum [1][2] - Year-to-date leasing volume totals over 1.5 million square feet, with approximately 178,000 square feet of new tenant leases coming from the out-of-service portfolio, which is now over 50% leased [1] Market Demand - Demand from clients has been particularly strong in the Minneapolis and Sunbelt markets, with five transactions completed for a full floor or greater, showcasing the appeal of the renovated buildings and customer-centric approach [2] - The company has a late-stage pipeline of over 400,000 square feet, with two-thirds attributable to new tenancy, reinforcing confidence in achieving the 2025 total leasing goal of 2.2 to 2.4 million square feet [2]

Core Viewpoint - Piedmont Realty Trust (PDM) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with stock price movements, particularly due to institutional investors' reliance on these estimates for valuation [4][6]. - For Piedmont Realty Trust, the recent upgrade reflects an improvement in the company's underlying business, suggesting that investor sentiment may drive the stock price higher [5][10]. Earnings Estimate Revisions - Analysts have raised their earnings estimates for Piedmont Realty Trust, with the Zacks Consensus Estimate for the fiscal year ending December 2025 projected at $1.43 per share, showing no year-over-year change but a 0.4% increase over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% of stocks receiving a "Strong Buy" or "Buy" rating, indicating superior earnings estimate revisions [9][10]. - The upgrade of Piedmont Realty Trust to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

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. Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator ...

Group 1 - The article expresses a bullish outlook on Piedmont Realty Trust (NYSE: PDM), emphasizing its long-term prospects as an A-tier office REIT [1] - The author specializes in identifying Real Estate Investment Trusts (REITs) that are currently out-of-favor, indicating a contrarian investment strategy [1] - The investment approach is based on fundamental economic insights to assess the intrinsic value of stocks, with a focus on long-term investment horizons [1]

Financial Data and Key Metrics Changes - Core FFO per diluted share for Q2 2025 was $0.36, down from $0.37 in Q2 2024, primarily due to higher net interest expenses from refinancing activities [24] - AFFO generated during Q2 2025 was approximately $16 million [25] - The company anticipates annual core FFO guidance in the range of $1.38 to $1.44 per diluted share, with no material changes to previously published assumptions [26] Business Line Data and Key Metrics Changes - Total leasing success in Q2 2025 reached 712,000 square feet, with year-to-date leasing exceeding 1,000,000 square feet [6] - Approximately two-thirds of Q2 leasing activity was related to new tenant leases, marking the highest new tenant leasing in a single quarter since 2018 [6][7] - Rental rates for spaces vacant less than a year reflected over 7% increases, with almost 14% roll-ups on a cash and accrual basis, respectively [9] Market Data and Key Metrics Changes - Demand for office space is increasing, with JLL Research noting a 5.8% growth in active space requirements, the highest level of demand since 2021 [10] - National occupancy remained stable, with Piedmont observing positive absorption in four of its operating markets [10] - The out-of-service portfolio was over 30% leased by the end of Q2 and is expected to reach stabilization by the end of next year [8] Company Strategy and Development Direction - The company is focusing on creating modern work environments and is well-positioned to benefit from the flight to quality in office buildings [6] - The leasing guidance for 2025 has been increased to a range of 2,200,000 to 2,400,000 square feet, reflecting an increase of over 800,000 square feet compared to the original guidance [11] - The company plans to continue selective capital deployment to drive lease percentage and increase rental rates, aiming for FFO and cash flow growth [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about leasing prospects, citing strong demand from large tenants and a lack of new office construction [10] - The company anticipates that the majority of new leasing will benefit earnings in 2026 and beyond [11] - Management noted that the current high interest rates and inflation are expected to diminish new office supply and push construction costs higher, which will support rental rate growth [9] Other Important Information - The company repurchased approximately $68 million of its bonds during the quarter, resulting in a $7.5 million loss on early extinguishment of debt, but expected to save $7.5 million in total interest over the next three years [25] - The company has approximately $450 million of availability under its revolving line of credit and no final debt maturities until 2028 [26] Q&A Session Summary Question: What are the longer-term goals for exposures within markets? - Management indicated a focus on increasing exposure to the Sunbelt markets, aiming to raise the current 70% exposure to around 80% [34] Question: Can you touch on some of the larger pending vacancies and activity? - Management highlighted a strong pipeline with about 2,200,000 square feet of outstanding proposals, with significant activity in Atlanta and Dallas [37] Question: What offsets should be considered in terms of guidance? - Management noted that while leasing strength is strong, most of it will translate into growth in 2026 and beyond, which is why the bottom line guidance was not revised up [48] Question: How do you think about the buyer group and potential outcomes? - Management mentioned that the sales market is improving, particularly for core quality assets, and they are focused on disposing of non-core assets [54] Question: What is driving the reinvigoration of leasing activity? - Management identified several factors, including the need for larger tenants to upgrade their office experience and the return-to-office mandates [64]