Piedmont Realty Trust: Deutsche Bank reports 5% stake

Available on EDGAR 11/13/2026 - 12:22 PM EST Accepted by SEC EDGAR 11/13/2026 - 12:21 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Piedmont Realty Trust, Inc. (PDM) was the subject of a Schedule 13G in which Deutsche Bank AG reported beneficial ownership of 6,309,716 common shares, or 5.0% of the class. Deutsche Bank reported shared voting power over 4,559,907 shares and shared dispositive power over 6,309,716 shares, with no sole voting or dispositive power.

Other separately reported totals include RREEF America LLC with 6,136,204 shares (4.9%) and DWS Investment Management Americas, Inc. with 2,899,347 shares (2.3%). The statement also lists DWS Investment GmbH, DWS Trust Co. and DWS Investments UK Ltd. with separate beneficial-ownership totals.

Key Figures

Deutsche Bank AG beneficial ownership: 6,309,716 shares; 5.0% Deutsche Bank AG shared voting power: 4,559,907 shares Deutsche Bank AG shared dispositive power: 6,309,716 shares +5 more

8 metrics

Deutsche Bank AG beneficial ownership 6,309,716 shares; 5.0% Common stock

Deutsche Bank AG shared voting power 4,559,907 shares Common stock

Deutsche Bank AG shared dispositive power 6,309,716 shares Common stock

RREEF America LLC beneficial ownership 6,136,204 shares; 4.9% Common stock

DWS Investment Management Americas, Inc. beneficial ownership 2,899,347 shares; 2.3% Common stock

DWS Investment GmbH beneficial ownership 502,393 shares; 0.4% Common stock

DWS Trust Co. beneficial ownership 249,418 shares; 0.2% Common stock

DWS Investments UK Ltd beneficial ownership 121,692 shares; 0.1% Common stock

Key Terms

beneficially owned, Shared Voting Power, Shared Dispositive Power

3 terms

beneficially owned regulatory

"Aggregate Amount Beneficially Owned by Each Reporting Person"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared Voting Power regulatory

"Shared Voting Power 4,559,907.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 6,309,716.00"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many PDM shares did Deutsche Bank report beneficially owning?

Deutsche Bank AG reported beneficial ownership of 6,309,716 PDM common shares, or 5.0% of the class. It reported shared voting power over 4,559,907 shares and shared dispositive power over 6,309,716 shares, with zero sole voting and sole dispositive power.

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

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Piedmont Realty Trust, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

720190206

(CUSIP Number)

09/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 720190206

1

Names of Reporting Persons

DEUTSCHE BANK AG\

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,559,907.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,309,716.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,309,716.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.0 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): 720190206

1

Names of Reporting Persons

DWS INVESTMENT MANAGEMENT AMERICAS, INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,899,347.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 32,931.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,899,347.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.3 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

CUSIP Number(s): 720190206

1

Names of Reporting Persons

RREEF AMERICA LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 908,749.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,136,204.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,136,204.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

CUSIP Number(s): 720190206

1

Names of Reporting Persons

DWS Investment GmbH

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 502,393.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

502,393.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.4 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

CUSIP Number(s): 720190206

1

Names of Reporting Persons

DWS Trust CO

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 249,418.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

249,418.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.2 %

12

Type of Reporting Person (See Instructions)

IV, CO

SCHEDULE 13G

CUSIP Number(s): 720190206

1

Names of Reporting Persons

DWS Investments UK Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 121,692.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

121,692.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Piedmont Realty Trust, Inc.
(b)	Address of issuer's principal executive offices: 5565 GLENRIDGE CONNECTOR, STE 450, ATLANTA, GEORGIA, 30342.
Item 2.
(a)	Name of person filing: DEUTSCHE BANK AG\
(b)	Address or principal business office or, if none, residence: 1 COLUMBUS CIRCLE, NEW YORK, NY, 10019
(c)	Citizenship: 2M
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 720190206
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	a bank organized under the law of the Federal Republic of Germany
Item 4.	Ownership
(a)	Amount beneficially owned: 6,309,716.00
(b)	Percent of class: 5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 4,559,907.00
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 6,309,716.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to a bank organized under the law of the Federal Republic of Germany is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DEUTSCHE BANK AG\

Signature:	Michael Caro
Name/Title:	Vice President
Date:	11/13/2026

DWS INVESTMENT MANAGEMENT AMERICAS, INC

Signature:	Michael Caro
Name/Title:	Vice President
Date:	11/13/2026

RREEF AMERICA LLC

Signature:	Michael Caro
Name/Title:	Vice President
Date:	11/13/2026

DWS Investment GmbH

Signature:	Michael Caro
Name/Title:	Vice President
Date:	11/13/2026

DWS Trust CO

Signature:	Michael Caro
Name/Title:	Vice President
Date:	11/13/2026

DWS Investments UK Ltd

Signature:	Michael Caro
Name/Title:	Vice President
Date:	11/13/2026