Financial Performance - Piedmont reported a net loss of $29.978 million, or $0.24 per diluted share, for Q4 2024, compared to a net loss of $28.030 million, or $0.23 per diluted share, in Q4 2023[18]. - NAREIT FFO applicable to common stock was $41.605 million for Q4 2024, down from $50.624 million in Q4 2023, with NAREIT FFO per diluted share decreasing to $0.33 from $0.41[18]. - Core FFO for Q4 2024 was $46.436 million, or $0.37 per diluted share, compared to $50.624 million, or $0.41 per diluted share, in Q4 2023[19]. - Rental income for Q4 2024 was $111,169,000, a slight decrease of 1.0% from $114,357,000 in Q4 2023[44]. - Net income applicable to Piedmont for Q4 2024 was a loss of $29,978,000, compared to a loss of $28,030,000 in Q4 2023[44]. - Total revenue for the twelve months ended December 31, 2024, was $560,050,000, reflecting a 2.6% increase from $545,886,000 in 2023[61]. - The company reported a net loss applicable to Piedmont of $(79,069) thousand for the twelve months ended December 31, 2024, compared to $(48,387) thousand in 2023, highlighting a worsening financial position[142]. - Core Funds From Operations applicable to common stock for the twelve months ended December 31, 2024, was $185,567 thousand, compared to $215,219 thousand in 2023, showing a decline of approximately 13.8%[141]. Debt and Liquidity - The total debt as of December 31, 2024, was $2.222 billion, up from $2.055 billion as of December 31, 2023[23]. - The weighted average cost of debt increased to 6.01% in Q4 2024 from 5.82% in Q4 2023[23]. - Total liquidity as of December 31, 2024, was $710 million, including an unused $600 million line of credit and approximately $110 million in cash[25]. - The Company amended its $200 million syndicated bank term loan to increase the principal amount to $325 million and extended the maturity date to January 29, 2028[25]. - The company has a total net debt of $2,128,541,000 after accounting for cash and cash equivalents of $113,882,000[72]. - The maximum leverage ratio is 0.44, well below the required maximum of 0.60, indicating strong compliance with bank debt covenants[81]. - The minimum fixed charge coverage ratio stands at 2.24, exceeding the required minimum of 1.50, reflecting robust financial health[81]. Leasing Activity - The leased percentage as of December 31, 2024, was 88.4%, an increase from 87.1% in the previous year[8]. - Piedmont had 45 lease transactions in Q4 2024, totaling 433,000 square feet, with new tenant leasing of 94,000 square feet[22]. - The Company completed approximately 2.4 million square feet of leasing in 2024, the highest annual leasing volume since 2015, exceeding the original 2024 leasing goal[24]. - New tenant leasing accounted for over 1 million square feet, representing 42% of the Company's 2024 leasing activity, the largest amount since 2016[24]. - The total leased square footage as of December 31, 2024, is 15,323,000 square feet[100]. - The company completed leasing transactions totaling 432,469 square feet in the three months ended December 31, 2024, with tenant improvements averaging $3.56 per square foot per year of lease term[109]. Operational Metrics - Same Store NOI on a cash basis increased by 0.9% for Q4 2024 and 2.6% for the full year, marking the fourth consecutive year of positive growth[20]. - Same store net operating income (cash basis) for the twelve months ended December 31, 2024, was $313,763 thousand, an increase from $305,888 thousand in 2023, representing a growth of about 2.9%[142]. - The company reported annualized lease revenues of $567,344,000 across its portfolio[145]. - The average lease term remaining as of December 31, 2024, is 6.0 years, up from 5.7 years as of December 31, 2023[100]. - The largest segment of lease revenue comes from leases greater than 100,000 square feet, contributing 36.1% of total annualized lease revenue[87]. Asset Management - Total assets as of December 31, 2024, were $4,114,651,000, a decrease of 1.4% from $4,138,217,000 on September 30, 2024[43]. - Total liabilities increased to $2,526,524,000 as of December 31, 2024, up from $2,508,049,000 in the previous quarter[43]. - Total stockholders' equity decreased to $1,588,127,000 as of December 31, 2024, down from $1,630,168,000 in the previous quarter[43]. - The company has a total of 739 tenants, with the business services sector representing 14.8% of annualized lease revenue at $83.929 million[117]. - The company has ongoing redevelopment projects with a total of 784 thousand square feet, including properties in Orlando and Minneapolis, with a current asset basis of $117 million[121]. Risks and Challenges - The company faces economic, regulatory, and technological changes impacting the real estate market, particularly in the office sector[156]. - Competition affects the company's ability to renew existing leases or re-let space under similar terms[156]. - The company is exposed to risks from lease terminations, defaults, and financial conditions of large tenants[156]. - Cybersecurity incidents pose risks to operations and could impact the company's reputation and stock value[156]. - The company must navigate the illiquidity of real estate investments, influenced by rising interest rates and construction costs[156].

Atlanta, Feb. 13, 2025 (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, today announced its results for the quarter and year ended December 31, 2024. Highlights for the Three Months and Year Ended December 31, 2024: Financial Results: Three Months Ended Year Ended(in 000s other than per share amounts )December 31, 2024December 31, 2023 December 31, 2024December 31, 2023Net ...

Wall Street analysts forecast that Piedmont Office (PDM) will report quarterly earnings of $0.37 per share in its upcoming release, pointing to a year-over-year decline of 9.8%. It is anticipated that revenues will amount to $142.16 million, exhibiting a decline of 2.2% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 2.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration ...

PIEDMONT OFFICE REALTY TRUST DECLARES FIRST QUARTER DIVIDEND Atlanta, Feb. 03, 2025 (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 first quarter of 2025. The dividend will be paid on March 14, 2025 to stockholders of record as of the close of business on February 21, 2025. About Pi ...

Atlanta, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) announced today that the Company will release its fourth quarter and annual financial results on Thursday, February 13, 2025, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Friday, February 14, 2025 at 9:00 a.m. ET 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 man ...

Piedmont Office (PDM) reported $139.29 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.2%. EPS of $0.36 for the same period compares to -$0.14 a year ago.The reported revenue represents a surprise of -2.97% over the Zacks Consensus Estimate of $143.56 million. With the consensus EPS estimate being $0.37, the EPS surprise was -2.70%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -2.70%. A quarter ago, it was expected that this commercial real estate investment trust would post FFO of $0.37 per share when it actually produced FFO of $0.37, delivering no surprise.Over the last four q ...

EXHIBIT 99.2 HIMMINI STANT 2 11 Sussantees 0 0 BROMERE ........ 를 맞 STORE HOUSE IN DINEER A B N B am-g m = and 100 Blog I B BUNDER BE == BORNBODD us = RBURNING FELL WHITE WARD Four Seasons TTITY Hotel (proposed) HTE Supplemental Information Piedmont Office Realty Trust, Inc. Quarterly Supplemental Information Index Page Page Introduction Corporate Data 3 Investor Information 4 Supporting Information Earnings Release 5 Definitions 33 Key Performance Indicators 9 Research Coverage 34 Financials Non-GAAP Recon ...

Atlanta, Oct. 24, 2024 (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, today announced its results for the quarter ended September 30, 2024. Highlights for the Three Months Ended September 30, 2024: Financial Results:  Three Months Ended Nine Months Ended(in 000s other than per share amounts )September 30, 2024September 30, 2023 September 30, 2024September 30, 2023Net loss ...

Atlanta, Oct. 14, 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 completed over 461,000 square feet of leasing during the third quarter of 2024, with approximately 45% of this total leased square footage related to new tenants and bringing its in-service leased percentage to 88.8% as of September 30, 2024. Rents on leases executed during the third q ...