Piedmont REIT Signs 240,000 SF of Leases Second Quarter-to-Date Bringing YTD Leasing to approximately 670,000 SF

Rhea-AI Summary

Piedmont (NYSE:PDM) reported approximately 240,000 square feet of leases completed so far in the second quarter of 2026, over 60% with new tenants. About 90% of this new-tenant space was previously vacant, bringing year-to-date leasing to roughly 670,000 square feet.

Piedmont also noted nearly 900,000 square feet of leasing either executed or in the legal stage during the second quarter and cited tour and proposal activity above historical averages. The company is presenting at the NAREIT REITWeek Investor Conference in New York.

Positive

• Approximately 240,000 SF of leasing completed so far in Q2 2026
• Over 60% of Q2 leasing volume tied to new tenants
• Roughly 90% of new-tenant leasing backfilling previously vacant space
• Year-to-date 2026 leasing volume around 670,000 SF
• Almost 900,000 SF executed or in legal stage during Q2 2026
• Tour and proposal activity reportedly above historical averages

Negative

• None.

News Market Reaction – PDM

-0.36%

-0.36% Session close to close

In the Jun 1 session, PDM declined 0.36%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement underscores operational momentum, with about 240,000 SF leased so far in Q2 and ro...

Analysis

This announcement underscores operational momentum, with about 240,000 SF leased so far in Q2 and roughly 670,000 SF year-to-date, much of it filling vacant space. Management also cites nearly 900,000 SF executed or in legal during the quarter. Set against recent earnings updates and capital-structure changes, investors may watch how this leasing translates into occupancy, rental-rate trends, and future quarterly results for the Sunbelt-focused portfolio.

Key Figures

Q2 leases signed: 240,000 SF New tenant share: over 60% Vacant space usage: approximately 90% +5 more

8 metrics

Q2 leases signed 240,000 SF Leasing completed thus far in second quarter 2026

New tenant share over 60% Portion of Q2 2026 leasing tied to new tenants

Vacant space usage approximately 90% Share of new tenant leasing going into currently vacant space

YTD leasing volume approximately 670,000 SF Year-to-date 2026 leasing activity

Q2 leasing pipeline almost 900,000 SF Leasing either executed or in legal stage during Q2 2026

Amended term loan size $400 million Principal amount under amended Term Loan Agreement as of May 28, 2026

Prior term loan size $325 million Principal amount before amendment of Term Loan Agreement

Term loan maturity May 28, 2031 Maturity date under amended Term Loan Agreement

Historical Context

5 past events · Latest: Apr 30 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 30	Q1 2026 earnings	Neutral	-0.4%	Release of Q1 2026 financial results and related investor materials.
Apr 01	Earnings date announcement	Neutral	+1.4%	Announcement of reporting date and call details for Q1 2026 results.
Feb 11	Q4 & FY 2025 results	Neutral	-7.8%	Fourth quarter and full-year 2025 financial results and conference call plans.
Feb 03	Executive promotion	Positive	+2.9%	Promotion of Alex Valente to Co‑Chief Operating Officer overseeing operations.
Jan 20	Dividend tax disclosure	Neutral	+2.2%	Disclosure of tax treatment for two $0.125 2025 common stock dividends.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news has produced mostly modest price moves, with a larger decline on the prior quarterly results but no consistent pattern of reactions.

Recent Company History

Over the last several months, PDM’s news flow centered on earnings, governance, and dividends. Q4 and full-year 2025 results on Feb 11, 2026 saw the sharpest move at -7.78%. Q1 2026 earnings released on Apr 30, 2026 triggered only a slight -0.36% reaction, while the earnings-date notice and a management promotion in early 2026 drew small positive moves. Dividend tax-treatment disclosure in January also coincided with a modest gain, suggesting largely contained responses to typical corporate updates.

Key Terms

reit

1 terms

reit financial

"the Company is participating in this week’s NAREIT REITWeek Investor Conference"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Atlanta, GA, June 01, 2026 (GLOBE NEWSWIRE) -- Piedmont Realty Trust, Inc. ("Piedmont” or “the Company") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, announced today, that the Company is participating in this week’s NAREIT REITWeek Investor Conference in New York City. The Company has completed approximately 240,000 square feet of leasing thus far in the second quarter, with over 60% related to new tenant leasing. Approximately 90% of the new tenant leasing was for currently vacant space and brings year-to-date leasing volume to approximately 670,000 square feet.  

Commenting on second quarter leasing progress, Brent Smith, Piedmont's President and Chief Executive Officer, said, "We continue to experience elevated demand for our Piedmont PLACES with tour and proposal activity at levels above historical averages. With almost 900,000 square feet of leasing either already executed or in the legal stage during the second quarter, prospective customers recognize Piedmont's best-in-class work environments and elevated service  present an exceptional value compared to new construction. This unique formula continues to drive both outsized demand and rental rate growth across the Piedmont portfolio."

About Piedmont Realty Trust

Piedmont Realty Trust™ (NYSE: PDM), is a fully integrated, self-managed real estate investment company focused on delivering an exceptional office environment. As an owner, manager, developer and operator of approximately 16 MM SF of Class A properties across major U.S. Sunbelt markets, Piedmont Realty Trust is known for its hospitality-driven approach and commitment to transforming buildings into premier “Piedmont PLACEs” that enhance each client’s workplace experience.

Contact:    Sarah Heimlich
Company: Piedmont Realty Trust
Phone:      770 418 8800
Email:        Investor.relations@Piedmontreit.com

FAQ

How much leasing has Piedmont REIT (NYSE:PDM) completed year-to-date 2026?

Piedmont reports approximately 670,000 square feet of year-to-date leasing in 2026. According to Piedmont, this figure includes second quarter-to-date activity, driven largely by new tenant leases and significant absorption of previously vacant space in its Sunbelt office portfolio.

What Q2 2026 leasing volume did Piedmont REIT (PDM) announce?

Piedmont announced it has completed about 240,000 square feet of leasing so far in Q2 2026. According to Piedmont, more than 60% of this activity involves new tenants, with roughly 90% of that new-tenant leasing filling previously vacant office space.

How much of Piedmont REIT’s Q2 2026 leasing involved new tenants?

More than 60% of Piedmont’s second quarter-to-date leasing involved new tenants. According to Piedmont, about 90% of this new-tenant activity was for space that had been vacant, helping reduce vacancy across its primarily Sunbelt Class A office portfolio.

What is the total Q2 2026 leasing pipeline for Piedmont REIT (PDM)?

Piedmont cites nearly 900,000 square feet of leasing either executed or in the legal stage during Q2 2026. According to Piedmont, this reflects elevated leasing momentum backed by strong tour and proposal activity across its office properties.

How is tenant demand trending for Piedmont REIT’s office portfolio in 2026?

Piedmont reports elevated demand for its office properties in 2026. According to Piedmont, tour and proposal activity is above historical averages, supporting hundreds of thousands of square feet in executed and in-process leases across its Class A Sunbelt portfolio.

Is Piedmont REIT (NYSE:PDM) presenting at NAREIT REITWeek 2026?

Yes, Piedmont is participating in the NAREIT REITWeek Investor Conference in New York City. According to Piedmont, management is engaging with investors while highlighting recent leasing performance, portfolio demand trends, and the company’s positioning within Sunbelt Class A office markets.