Piedmont Realty Trust, Inc Stock Price, News & Analysis

Piedmont Office Realty Trust, (NYSE:PDM) reported its 2022 financial results, showcasing significant gains and operational achievements despite economic challenges. For Q4 2022, the company posted a net income of $75.6 million, with a $101.1 million gain from real estate sales. Core Funds From Operations (Core FFO) stood at $61.2 million, slightly down from $63 million in Q4 2021. The company completed 433,000 square feet of leasing in Q4 and a total of 2.2 million square feet for the year. Debt levels increased to $1.98 billion, reflecting rising interest rates. Piedmont declared a $0.21 dividend, with 2023 guidance showing expected Core FFO between $223 to $236 million.

Piedmont Office Realty Trust (NYSE: PDM) announced a quarterly cash dividend of $0.21 per share for Q1 2023, totaling $0.84 annually. This payment will be made on March 17, 2023 to shareholders recorded by February 24, 2023. The company, with a $5 billion portfolio of approximately 17 million square feet primarily in key U.S. Sunbelt markets, is rated investment-grade by S&P and Moody's. Piedmont is also recognized as a 2022 ENERGY STAR Partner of the Year.

Piedmont Office Realty Trust (NYSE: PDM) announced the tax treatment of its 2022 common stock dividends. Stockholders should consult tax advisors for specifics regarding their tax obligations. The report details dividends of $0.21 per share paid on January 3, 2023, with all distributions taxable in 2023. Piedmont boasts a $5 billion portfolio of approximately 17 million square feet of Class A office properties, primarily in the Sunbelt, and is rated investment-grade by S&P Global Ratings and Moody's. For more information about Piedmont and its performance, visit piedmontreit.com.

Piedmont Office Realty Trust (NYSE: PDM) announced plans to release its fourth quarter financial results on February 8, 2023, after NYSE trading closes. A conference call will occur on February 9, 2023, at 9:00 a.m. Eastern time, where management will review financial performance and address investor questions. Piedmont manages a $5 billion portfolio, encompassing around 17 million square feet of Class A office properties, primarily in the Sunbelt region. The company holds an investment-grade rating from S&P Global Ratings (BBB) and Moody's (Baa2).

Piedmont Office Realty Trust (NYSE:PDM) has successfully sold its two assets in Cambridge, MA, raising approximately $160 million. This capital has been utilized to pay off its $600 million line of credit, ensuring full availability for future use. The company also amended its $200 million unsecured term loan, extending the maturity to June 2025. CEO C. Brent Smith highlighted that this asset disposal was part of their strategy to optimize assets, leading to a $100 million book gain and enhancing the balance sheet as they enter 2023.

Piedmont Office Realty Trust (NYSE:PDM) announced the appointment of Mary Hager to its Board of Directors, expanding the board to nine members. Hager, Executive Director at Greystar, co-leads the Greystar-Thackeray business and has extensive experience in commercial real estate. Prior to Greystar, she co-founded Thackeray Partners and held various roles at Trammell Crow Company. Piedmont focuses on high-quality Class A office properties, managing approximately $5 billion in assets across 17 million square feet primarily in the Sunbelt region.

Piedmont Office Realty Trust (PDM) announced its Q3 2022 financial results, reporting a net income of $3.3 million, down from $11.3 million in Q3 2021. Core FFO per diluted share remained steady at $0.50. The company experienced a slight decrease in Same Store NOI on a cash basis by 0.3%. Piedmont expanded its portfolio by acquiring a major office building in Atlanta for $465 million. Total debt increased to $2.145 billion with a debt-to-gross assets ratio of 39.8%. The company declared a quarterly dividend of $0.21, payable on January 3, 2023. Guidance for 2022 was revised, expecting Core FFO of $246-$249 million.

Piedmont Office Realty Trust (NYSE: PDM) announced a quarterly cash dividend of $0.21 per share, totaling $0.84 annually, for Q4 2022. This dividend will be paid on January 3, 2023, to stockholders recorded as of November 25, 2022. Piedmont operates a portfolio valued at approximately $5 billion, comprising 17 million square feet of Class A office properties, primarily in the Sunbelt region. The company is rated investment-grade by S&P and Moody’s and has been recognized as a 2022 ENERGY STAR Partner of the Year.

Piedmont Office Realty Trust (NYSE: PDM) announced it will release its third quarter financial results on November 2, 2022, post-market close. A conference call for analysts will follow on November 3, 2022, at 9:00 a.m. EDT. The call will cover performance reviews and recent events, allowing for a Q&A session. Piedmont operates a robust $5 billion portfolio of Class A office properties, totaling approximately 17 million square feet, and is recognized as an investment-grade rated REIT. For more details, visit the investor relations website.