Piedmont Office Stock Price, News & Analysis

Piedmont Office REIT (NYSE:PDM) reported strong leasing activity with over 500,000 square feet of leases signed in Q2 2025 to date, including 350,000 square feet from new tenants. Year-to-date leasing volume has reached 850,000 square feet, with 70% of new tenant leases for vacant space. Notable transactions include a 93,000 SF lease with a global professional services firm in Dallas and an 84,000 SF lease with a frozen food distributor in Minneapolis, both exceeding 10-year terms. The company has raised its 2025 leasing guidance from 1.4-1.6 million SF to 1.8-2.0 million SF. Currently, PDM has over 400,000 SF of leases in legal documentation and 2.6 million SF in the proposal stage, demonstrating strong demand for their Class A office properties despite economic uncertainties.

Piedmont Office Realty Trust (NYSE: PDM) has announced the release of its financial and operational results for the first quarter of 2025. The company has scheduled a comprehensive earnings presentation through multiple channels.

Key Details:

• Conference call and audio webcast scheduled for Tuesday, April 29, 2025, at 9:00 A.M. Eastern time
• Live audio webcast accessible via company website at investor.piedmontreit.com
• Dial-in numbers for analysts: - US/Canada: (888) 506-0062 - International: (973) 528-0011 - Participant Access Code: 217290

A replay will be available through May 13, 2025 with the following access options:

• US/Canada replay: (877) 481-4010
• International replay: (919) 882-2331
• Conference ID: 52310
• Webcast replay available in Investor Relations section

The management team will present Q1 2025 performance, recent events, and host a Q&A session during the call.

Piedmont Office Realty Trust (NYSE: PDM) has scheduled the release of its first quarter 2025 financial results on Monday, April 28, 2025, after the NYSE trading closes. The company will host a conference call on Tuesday, April 29, 2025, at 9:00 a.m. ET to discuss Q1 performance and recent events.

The conference call will be available in listen-only mode via webcast on the company's investor relations website. Management will conduct a Q&A session during the call. Analysts can participate using domestic line (888) 506-0062 or international line (973) 528-0011 with participant code 217290. A replay will be available through May 13, 2025.

Piedmont Office Realty Trust (NYSE:PDM) has expanded its Board of Directors with three new appointments, bringing the total board membership to ten. The new appointees are:

• Deneen Donnley, current Senior Vice President and General Counsel at Consolidated Edison (NYSE: ED)
• Stephen E. Lewis, former Chair and CEO of Troutman Pepper law firm
• Jeffrey J. Donnelly, current CEO and Director of DiamondRock Hospitality (NYSE: DRH)

Each appointee brings significant experience in their respective fields. Donnley has extensive legal and financial services background, Lewis brings strategic transaction expertise, and Donnelly contributes substantial real estate and financial management experience. Board Chair Kelly H. Barrett expressed enthusiasm about the appointments, highlighting the unique perspectives each new member brings to the boardroom.

Piedmont Office Realty Trust (NYSE:PDM) reported its Q4 and full-year 2024 results, showing a net loss of $30.0 million ($0.24 per share) for Q4 2024, compared to a $28.0 million loss in Q4 2023. The company's Core FFO decreased to $0.37 per share in Q4 2024 from $0.41 in Q4 2023.

Notable achievements include completing 2.4 million square feet of leasing in 2024, the highest since 2015, with over 1 million square feet in new tenant leasing. The company's leased percentage improved to 88.4% from 87.1% year-over-year. Rental rates increased by 11.9% on a cash basis and 18.9% on an accrual basis for the year.

The company has approximately $710 million in total liquidity and successfully refinanced its debt, with no maturities until 2028. For 2025, Piedmont projects Core FFO guidance of $1.38-$1.44 per diluted share.

Piedmont Office Realty Trust (NYSE: PDM), a real estate investment trust (REIT), has announced its first quarter dividend for 2025. The company's board of directors has declared a regular quarterly cash dividend of $0.125 per share, which amounts to $0.50 per share on an annualized basis. The dividend will be distributed on March 14, 2025, to stockholders who are on record as of the close of business on February 21, 2025.

Piedmont Office Realty Trust (NYSE: PDM) has scheduled the release of its fourth quarter and annual 2024 financial results on Thursday, February 13, 2025, after NYSE trading hours. The company will host a conference call on Friday, February 14, 2025, at 9:00 a.m. ET to discuss the results.

The conference call will be available in listen-only mode through the company's investor relations website. Management will review performance metrics, discuss recent events, and conduct a Q&A session. Analysts can participate using domestic line (888) 506-0062 or international line (973) 528-0011 with participant code 864662.

A replay will be available through February 28, 2025, via webcast and telephone. Investors can submit questions prior to the call via email at askpiedmont@piedmontreit.com.

Piedmont Office Realty Trust reported Q3 2024 results with a net loss of $11.5 million ($0.09 per share), compared to a $17.0 million loss in Q3 2023. Core FFO decreased to $0.36 per diluted share from $0.43 year-over-year. The company completed approximately 461,000 square feet of leasing in Q3, bringing year-to-date leasing to 2 million square feet. Portfolio leased percentage improved to 88.8% from 87.1% at year-end 2023. Rental rates increased 4.0% on cash basis and 8.5% on accrual basis for Q3. The company has narrowed its 2024 guidance with Core FFO projected at $1.48-$1.50 per diluted share.

Piedmont Office Realty Trust (NYSE:PDM), a Class A office property owner primarily in the Sunbelt, reported 461,000 square feet of leasing in Q3 2024. This brings their year-to-date leasing to approximately two million square feet, increasing their in-service leased percentage to 88.8% as of September 30, 2024. About 45% of the Q3 leasing was for new tenants.

Rents on leases for space vacant less than a year increased by 4.0% on a cash basis and 8.5% on an accrual basis. The company has a contractual backlog of 1.5 million square feet, representing about $48 million in future annual cash flow. Their pipeline of leases in the proposal stage has grown to approximately three million square feet, indicating strong demand for their properties.