分组1 - Piedmont Office reported quarterly funds from operations (FFO) of $0.37 per share, matching the Zacks Consensus Estimate, but down from $0.41 per share a year ago [1] - The company posted revenues of $143.23 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 0.75%, but down from $145.33 million year-over-year [2] - Piedmont Office shares have declined approximately 12.4% since the beginning of the year, contrasting with the S&P 500's gain of 2.9% [3] 分组2 - The current consensus FFO estimate for the upcoming quarter is $0.35 on revenues of $141.37 million, and for the current fiscal year, it is $1.45 on revenues of $567.88 million [7] - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is in the bottom 39% of over 250 Zacks industries, suggesting potential underperformance compared to higher-ranked industries [8]

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].

Financial Results - Piedmont Office Realty Trust reported a net loss of $30.0 million, or $0.24 per diluted share, for Q4 2024, compared to a net loss of $28.0 million, or $0.23 per diluted share, in Q4 2023 [4] - The company incurred impairment charges of $15.4 million in Q4 2024, down from $18.5 million in Q4 2023, and executive separation costs of $4.8 million [2][4] - NAREIT FFO applicable to common stock was $41.6 million for Q4 2024, down from $50.6 million in Q4 2023, with Core FFO at $46.4 million compared to $50.6 million in the prior year [2][4] Leasing Activity - Piedmont completed 433,000 square feet of leasing in Q4 2024, totaling 2.4 million square feet for the year, the highest annual leasing volume since 2015 [3][7] - New tenant leasing accounted for over 1 million square feet, representing 42% of the total leasing activity in 2024, the largest since 2016 [7] - The leased percentage of the in-service portfolio increased to 88.4% as of December 31, 2024, up from 87.1% a year earlier [7] Balance Sheet - As of December 31, 2024, total assets were $4.1 billion, with total debt at $2.2 billion and a weighted average cost of debt of 6.01% [5] - The company had cash and cash equivalents of $109.6 million and total liquidity of $710 million, including an unused $600 million line of credit [5][8] - The net principal amount of debt to total gross assets less cash was 39.2% [5] ESG and Operations - Five projects in Piedmont's portfolio received TOBY (The Outstanding Building of the Year) recognition in Q4 2024 [6] - Approximately 84% of the portfolio was ENERGY STAR rated, and 72% was LEED certified as of December 31, 2024 [9] Guidance for 2025 - The company provided guidance for 2025, projecting a net loss between $46 million and $49 million, with Core FFO per diluted share expected to be between $1.38 and $1.44 [11][14] - Anticipated interest expense for 2025 is projected to be approximately $127-129 million, reflecting a full year of higher interest rates [12]

Core Viewpoint - Analysts forecast a decline in quarterly earnings and revenues for Piedmont Office, indicating potential challenges ahead for the company [1][2]. Earnings Projections - Piedmont Office is expected to report earnings of $0.37 per share, reflecting a year-over-year decline of 9.8% [1]. - Revenue is anticipated to be $142.16 million, showing a decrease of 2.2% compared to the same quarter last year [1]. Analyst Revisions - Over the past 30 days, the consensus EPS estimate has been revised downward by 2.8%, indicating a shift in analysts' expectations [2]. - Changes in earnings projections are crucial for predicting investor reactions and stock price movements [3]. Revenue Breakdown - 'Rental and Tenant Reimbursement Revenue - Fixed payments' is projected to be $112.16 million, down 1.9% from the prior year [5]. - 'Rental and Tenant Reimbursement Revenue - Variable payments' is expected to reach $23.86 million, reflecting a decline of 4.9% year-over-year [5]. - 'Revenues - Other property related income' is estimated at $5.46 million, indicating a slight decrease of 0.6% [6]. - The average prediction for 'Revenues - Rental and tenant reimbursement revenue' stands at $136.01 million, down 2.5% from the previous year [6]. Depreciation and Amortization - Analysts expect 'Amortization' to be $17.07 million, a decrease from $24.23 million in the prior year [6]. - The consensus for 'Depreciation' is $36.70 million, compared to $38.04 million from the previous year [7]. Stock Performance - Over the past month, Piedmont Office shares have declined by 2.7%, contrasting with a 4.2% increase in the Zacks S&P 500 composite [7]. - The current Zacks Rank for Piedmont Office is 4 (Sell), suggesting potential underperformance in the near future [7].

Group 1 - Piedmont Office Realty Trust declared a quarterly cash dividend of $0.125 per share for Q1 2025, equating to an annualized dividend of $0.50 per share [1] - The dividend payment date is set for March 14, 2025, for stockholders of record as of February 21, 2025 [1] Group 2 - Piedmont Office Realty Trust is a real estate investment trust (REIT) focused on high-quality, Class A office properties primarily in the Sunbelt region [2] - The company has a portfolio valued at approximately $5 billion, consisting of around 16 million square feet of predominantly unencumbered properties [2] - Piedmont is a fully integrated, self-managed REIT with local management offices in each market and holds an investment-grade rating of Baa3 from Moody's [2] - The company has been recognized as a 2024 ENERGY STAR Partner of the Year – Sustained Excellence [2]

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 ...

Core Insights - Piedmont Office (PDM) reported a revenue of $139.29 million for Q3 2024, reflecting a year-over-year decline of 5.2% [1] - The earnings per share (EPS) for the same period was $0.36, a significant improvement from -$0.14 a year ago [1] - The reported revenue was 2.97% below the Zacks Consensus Estimate of $143.56 million, while the EPS was 2.70% below the consensus estimate of $0.37 [1] Revenue Breakdown - Rental and Tenant Reimbursement Revenue - Fixed payments: $109.39 million, below the average estimate of $112.68 million, with a year-over-year change of -5.1% [1] - Rental and Tenant Reimbursement Revenue - Variable payments: $23.44 million, below the average estimate of $25.05 million, with a year-over-year change of -10.8% [1] - Other property-related income: $5.57 million, slightly below the average estimate of $5.73 million, with a year-over-year change of +10.1% [1] - Property management fee revenue: $0.90 million, exceeding the average estimate of $0.43 million, with a year-over-year change of +126.3% [1] - Total Rental and Tenant Reimbursement Revenue: $132.83 million, below the average estimate of $137.74 million, with a year-over-year change of -6.2% [1] Net Income - Net income per share applicable to common stockholders (diluted) was -$0.09, compared to the average estimate of -$0.07 [1] Stock Performance - Piedmont Office shares have returned +5.9% over the past month, outperforming the Zacks S&P 500 composite's +1.5% change [2] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [2]

分组1 - Piedmont Office reported quarterly funds from operations (FFO) of $0.36 per share, missing the Zacks Consensus Estimate of $0.37 per share, and down from $0.43 per share a year ago, representing an FFO surprise of -2.70% [1] - The company posted revenues of $139.29 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.97%, compared to year-ago revenues of $146.99 million [1] - Over the last four quarters, Piedmont Office has not surpassed consensus FFO estimates, and it has topped consensus revenue estimates only two times [1] 分组2 - Piedmont Office shares have increased approximately 50.6% since the beginning of the year, outperforming the S&P 500's gain of 21.5% [2] - The company's FFO outlook is crucial for investors, as empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions [3] - The current consensus FFO estimate for the coming quarter is $0.37 on $145.19 million in revenues, and for the current fiscal year, it is $1.50 on $576.23 million in revenues [4] 分组3 - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 29% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [5] - Another company in the same industry, Park Hotels & Resorts, is expected to report quarterly earnings of $0.49 per share, reflecting a year-over-year change of -3.9% [5]

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 ...