Piedmont Office Realty Trust(US:PDM)2021-07-29 20:16Financial Performance - Net income applicable to Piedmont for the quarter ended June 30, 2021, was $9.9 million, or $0.08 per share, compared to $192.4 million, or $1.52 per share, for the same quarter in 2020[15] - Funds from operations (FFO) for the quarter ended June 30, 2021, was $60.4 million, or $0.48 per share, compared to $52.3 million, or $0.41 per share, for the same quarter in 2020[16] - Core funds from operations (Core FFO) for the quarter ended June 30, 2021, was $60.4 million, or $0.48 per share, compared to $61.6 million, or $0.49 per share, for the same quarter in 2020[17] - Adjusted funds from operations (AFFO) for the quarter ended June 30, 2021, was $41.7 million, compared to $45.0 million for the same quarter in 2020[19] Portfolio and Leasing - As of June 30, 2021, the total in-service office portfolio was 85.9% leased, compared to 86.8% at December 31, 2020[20] - The weighted average remaining lease term of the in-service portfolio was 6.1 years as of June 30, 2021, unchanged from December 31, 2020[21] - The weighted average adjusted Annualized Lease Revenue per square foot for the in-service portfolio was $37.21 as of June 30, 2021[21] - During the three months ended June 30, 2021, the Company completed approximately 664,000 square feet of leasing activity, including new tenant leases for approximately 154,000 square feet[24] Capital Activity - Piedmont entered into a binding contract to sell two office buildings in Woburn, MA, for $129.0 million, or $293 per square foot, expected to close around the end of 2021[35] - As of quarter end, Board-approved capacity remaining for additional repurchases totaled approximately $170 million under the stock repurchase plan[40] - The ratio of total debt to total gross assets was 34.6% as of June 30, 2021, compared to 34.4% at December 31, 2020[39]