Piedmont Realty Trust, Inc Stock Price, News & Analysis

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.

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.

Piedmont Office Realty Trust (NYSE: PDM) announced the tax treatment of its 2020 common stock dividends, urging stockholders to consult tax advisors for specific guidance. Key dividend details include:

• Dividend per Share: $0.21
• Record Dates: Various dates throughout 2020
• Paid Dates: Various dates in early 2021
• Taxable Dates: Dividends paid will be taxable in the year they were distributed.

This reinforces Piedmont's commitment to providing returns to its shareholders.

Piedmont reported third-quarter results on October 29, 2020, showing net income of $8.9 million, or $0.07 per diluted share, slightly up from $8.4 million in Q3 2019. Core Funds From Operations reached $0.48 per diluted share, an increase from $0.45 a year prior. The company completed about 229,000 square feet in leasing, with cash rent roll-ups of 6.5%. A notable issuance of $300 million in 'green' bonds was made to finance the acquisition of LEED-certified Galleria Office Towers. Despite the challenges posed by COVID-19, rent collections remained strong at 99%.

Piedmont Office Realty Trust (NYSE: PDM) will release its Q3 2020 financial results on October 29, 2020, after market close. A conference call to discuss the results is set for October 30, 2020, at 10:00 AM ET, available via their investor relations website. Piedmont owns and manages approximately $5 billion in high-quality Class A office properties, with a focus on the Sunbelt region. The portfolio spans about 17 million square feet, boasting a significant percentage of ENERGY STAR and LEED certifications.