For the quarter ended June 2024, Piedmont Office (PDM) reported revenue of $143.26 million, up 0.1% over the same period last year. EPS came in at $0.37, compared to -$0.02 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $141.25 million, representing a surprise of +1.42%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.37. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

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. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this commercial real estate investment trust would post FFO of $0.39 per share when it actually produced FFO of $0.39, delivering no surprise. Over the last four quarters, the company has not been able to surpass consensus FFO estimate ...

Atlanta, July 31, 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 June 30, 2024, including the completion of over one million square feet of leasing, the largest amount of leasing the Company has completed in a single quarter in over a decade. Highlights for the Three Months Ended June 30, 2024: Financial Results: | --- ...

About Piedmont Office Realty Trust Certain statements in this press release, including statements regarding future business operations, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management's current expectations and involve a number of risks and uncertainties. Our actual results may differ materially from projections. F ...

To Listen to the Replay via Webcast: Click on the webcast link under the Investor Relations section of the Company's website at investor.piedmontreit.com. To Submit a Question: Investors interested in submitting a question to the Company prior to the call should send their questions to the following email address: askpiedmont@piedmontreit.com. Company management will attempt to answer as many questions as time allows on the conference call. Shareholder Services/Transfer Agent Services Contact: Computershare ...

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. BofA Securities, Wells ...

Core Viewpoint - Piedmont Office Realty Trust, Inc. has announced a $400 million offering of senior unsecured notes with a 6.875% interest rate, maturing in 2029, which is expected to close on June 25, 2024 [1][2]. Financial Details - The notes are priced at 98.993% of the principal amount and will be fully guaranteed on a senior unsecured basis by the Company [1][3]. - The net proceeds from the offering will be used to repay existing borrowings under its 2023 term loan and 2022 line of credit, with any remaining funds allocated for working capital, capital expenditures, and other corporate purposes [2]. Company Overview - Piedmont Office Realty Trust, Inc. is a real estate investment trust (REIT) that owns, manages, and operates high-quality Class A office properties, primarily in the Sunbelt region, with a portfolio valued at approximately $5 billion and covering around 16 million square feet [10].

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 tenan ...

Core Insights - Piedmont Office Realty Trust, Inc. has completed over 575,000 square feet of leasing in Q2 2024, with approximately 60% related to new tenants, bringing year-to-date leasing volume to about 1.1 million square feet [1][3] - The largest lease in Q2 2024 was for the relocation of Travel + Leisure Co's headquarters to Piedmont's property in Orlando [1] - The company has a backlog of future cash revenue related to leases yet to commence or still in abatement, estimated at approximately $52 million annually [3] Company Overview - Piedmont Office Realty Trust, Inc. is a self-managed real estate investment trust (REIT) focused on high-quality Class A office properties primarily in the Sunbelt region, with a portfolio valued at approximately $5 billion and comprising around 16 million square feet [4] - The company is investment-grade rated by S&P Global Ratings (BBB-) and Moody's (Baa3) and has been recognized as a 2024 ENERGY STAR Partner of the Year – Sustained Excellence [4]

During the first quarter of 2024, Piedmont completed approximately 500,000 square feet of leasing, including approximately 328,000 square feet of new tenant leasing. As of Mar 31, 2024, it had around 1.3 million square feet of executed leases for vacant space yet to commence or under rental abatement. Its healthy leasing activities are expected to boost the occupancy level at the company's property and fuel growth in rental income. Per a Cushman & Wakefield report, the high interest rate environment, hybrid ...