Welcome to our dedicated page for Piedmont Realty Trust news (Ticker: PDM), a resource for investors and traders seeking the latest updates and insights on Piedmont Realty Trust stock.
Piedmont Realty Trust reports recurring developments as a self-managed REIT that owns, manages, develops and operates Class A office properties across major U.S. Sunbelt markets. Company news centers on quarterly and annual financial results, leasing activity, portfolio occupancy, tenant demand, redevelopment and placemaking initiatives under the Piedmont PLACEs approach, and operating updates across its office portfolio.
Additional announcements cover dividend tax treatment for common stockholders, participation in REIT industry events, and leadership changes tied to property management, asset management, construction and redevelopment functions.
Piedmont Office Realty Trust (NYSE: PDM) announced its third quarter financial results release scheduled for October 27, 2021, post-market close. A conference call will follow on October 28, 2021, at 11:00 a.m. EDT, available via the company’s investor relations website. Management will discuss performance and recent events, facilitating a Q&A session. Piedmont's portfolio includes approximately 17 million square feet, primarily in the Sunbelt, valued at about $5 billion. The company is rated BBB by S&P and Baa2 by Moody’s.
Piedmont Office Realty Trust (NYSE: PDM) has announced a $300 million offering of 2.750% senior unsecured notes due 2032, priced at 99.510%. The offering is set to close on September 20, 2021. Proceeds will be utilized to repay existing borrowings under a $300 million term loan, with any remaining funds allocated for working capital and capital expenditures. The notes will be guaranteed by the Company on a senior unsecured basis. Joint book-running managers include prominent financial institutions such as US Bancorp and J.P. Morgan.
Piedmont Office Realty Trust (NYSE:PDM) reported its Q2 2021 results, showing a net income of $9.9 million, down from $192.4 million in Q2 2020, due to a one-time gain in the previous year. Core Funds From Operations (Core FFO) fell slightly to $60.4 million, or $0.48 per diluted share, while Same Store Net Operating Income increased by 5%. The company completed 664,000 square feet of leasing and plans to sell two properties in Massachusetts for $129 million. Piedmont's balance sheet is strong, with no secured debt and $424 million in available credit capacity.
Piedmont Office Realty Trust (NYSE: PDM) will release its second quarter financial results on July 28, 2021, post-market close. A conference call is set for July 29, 2021, at 11:00 a.m. EDT, where management will review performance and answer questions. Piedmont's portfolio includes approximately 17 million square feet of Class A office space, valued at about $5 billion, primarily in the Sunbelt region. It holds investment-grade ratings from S&P and Moody's and is recognized as a 2021 ENERGY STAR Partner of the Year.
Piedmont Office Realty Trust (NYSE: PDM) announced that it has completed approximately 230,000 square feet of leasing transactions in Q2 2021, with around 60% from new tenants. This total excludes a significant 5-year, 313,000 square foot renewal negotiation with the City of New York. Year-to-date, the company has leased over 900,000 square feet. Piedmont also promoted George M. Wells to Chief Operating Officer, emphasizing his extensive experience in property management. The company remains focused on sustainability and health, anticipating increased demand for its amenity-rich office spaces as the workforce adapts post-pandemic.
Piedmont Office Realty Trust (NYSE:PDM) reported a net income of $9.3 million ($0.08 per diluted share) for Q1 2021, up 7.3% year-over-year. Core Funds From Operations (Core FFO) remained stable at $0.48 per diluted share. The company collected over 99% of tenant receivables and completed 678,000 square feet of leasing, including significant renewals with Raytheon. The balance sheet improved with a net debt to Core EBITDA ratio of 5.6x and a Debt-to-Gross Assets ratio of 34.9%. Piedmont also declared a dividend of $0.21 per share for Q2 2021.
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Piedmont Office Realty Trust (NYSE: PDM) announced it will report first quarter financial results on April 28, 2021, after market close. A subsequent conference call is set for April 29, 2021, at 10:00 a.m. EDT. The call will cover Q1 performance, recent developments, and include a Q&A session for investors. The Company operates a diversified $5 billion portfolio of Class A office properties, primarily in the Sunbelt region, certified for energy efficiency. As of December 31, 2020, 64% of its portfolio held ENERGY STAR certification.
Piedmont Office Realty Trust (PDM) reported financial results for Q4 and the year ended December 31, 2020, revealing net income of $22.6 million for the quarter and $232.7 million for the year. The company achieved a 6% year-over-year increase in Core Funds From Operations (FFO), totaling $0.46 per diluted share in Q4 and $1.89 for the full year. Piedmont completed 1.1 million square feet of leasing in 2020 and collected over 99% of tenant receivables. The company exited the New Jersey market, selling assets for $130 million and acquiring a property in Orlando for $20 million. A dividend of $0.21 per share was declared for Q1 2021.
Piedmont Office Realty Trust (NYSE: PDM) is set to release its fourth quarter and annual 2020 financial results on February 10, 2021, after market close. A conference call for analysis and questions will follow on February 11 at 11:00 a.m. ET. The company, managing a diversified portfolio of approximately 17 million square feet valued at $5 billion, emphasizes sustainability with 64% of its properties ENERGY STAR certified and 43% LEED certified.