Piedmont Office Realty Trust, a leading owner of Class A office properties in the Sunbelt, reported strong leasing activity in Q3 2024, with over 461,000 square feet of new leases, 45% of which were with new tenants. The company's in-service leased percentage reached 88.8% as of September 30, 2024, and its contractual backlog stands at 1.5 million square feet of leased space yet to commence or begin paying cash rents.
Piedmont Realty Trust, Inc. (PDM)
Common Stock · Currency in USD · XNYS
Piedmont Realty Trust Inc 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 16 MM SF of Class A properties across U.S. Sunbelt markets, Piedmont Realty Trust is known for its hospitality-driven approach and commitment to transforming buildings into Piedmont PLACEs that enhance each client's workplace experience.
Company Info
SIC6512
Composite FIGIBBG000JVJ8N7
CIK0001042776
IPOFeb 10, 2010
Sectoroperators of nonresidential buildings
Highlights
Market Cap$820.12M
EPS-$0.44
P/E Ratio-15.24
Revenue$558.91M
Gross Profit$333.09M
Net Income-$53.83M
Employees140
WSO125,019,003
Phone(770) 418-8800
Websitehttps://www.piedmontreit.com
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Analysis
Share Price Chart
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Piedmont Realty Trust, Inc., comparing it to the performance of the S&P 500 index.
All prices have been adjusted for splits and dividends.
Returns By Period
Piedmont Realty Trust, Inc. (PDM) has returned -20.96% so far this year and 1.23% over the past 12 months. Looking at the last ten years, PDM has achieved an annualized return of -10.69%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
PDM
1M-12.42%
6M-24.77%
YTD-20.96%
1Y1.23%
5Y-18.00%
10Y-10.69%
Benchmark (SPY)
1M-3.85%
6M-2.35%
YTD-4.36%
1Y34.06%
5Y9.80%
10Y12.23%
Monthly Returns
The table below presents the monthly returns of Piedmont Realty Trust, Inc. (PDM) with color gradation from worst to best to easily spot seasonal factors.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.45% | -10.39% | -12.17% | |||||||||
| 2025 | -4.79% | -11.02% | -2.77% | -20.03% | 19.66% | 1.67% | 4.85% | 11.89% | 8.43% | -9.64% | 9.52% | -3.36% |
| 2024 | -4.49% | -8.47% | 12.30% | -1.57% | 6.58% | -2.03% | 19.81% | 13.75% | 4.66% | -0.70% | -5.56% | -4.39% |
| 2023 | 13.98% | -12.86% | -20.22% | -12.03% | -4.01% | 15.76% | 1.64% | -6.66% | -19.25% | -7.46% | 19.16% | 14.31% |
| 2022 | -3.58% | -4.05% | 1.00% | -7.20% | -8.73% | -11.59% | 5.12% | -13.89% | -9.97% | -3.15% | -1.61% | -12.67% |
| 2021 | -5.70% | 10.56% | -0.23% | 6.70% | -1.54% | -0.22% | 2.59% | -6.80% | -2.63% | 1.54% | -2.14% | 3.72% |
| 2020 | 3.67% | -7.22% | -18.13% | 3.34% | -0.60% | -0.84% | -2.35% | -5.61% | -10.61% | -16.03% | 34.86% | 1.88% |
| 2019 | 14.90% | 5.52% | 2.26% | -0.29% | -2.73% | -2.06% | 3.84% | -4.45% | 6.31% | 7.37% | -1.95% | 0.41% |
| 2018 | -0.81% | -7.94% | -1.62% | 1.82% | 6.96% | 3.53% | -0.45% | 0.71% | -4.44% | -4.96% | 2.55% | -8.49% |
| 2017 | 3.77% | 5.28% | -6.47% | 2.29% | -3.20% | -0.28% | -0.80% | -3.62% | -0.49% | -4.26% | 3.48% | -1.65% |
| 2016 | -1.44% | 0.35% | 7.97% | 1.76% | -1.28% | 0.55% | -5.49% | -3.87% | 7.01% |
Performance Indicators
The charts below present risk-adjusted performance metrics for Piedmont Realty Trust, Inc. (PDM) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
Sharpe ratio
Sortino ratio
Omega ratio
Calmar ratio
Martin ratio
sharpe ratio
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of PDM compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
Volatility Chart
The current Piedmont Realty Trust, Inc. volatility is 1.90%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses.
Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
Income Statement
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities And Equity (USD) | 4.03B | 4.11B | 4.06B | 4.09B | 3.93B | 3.74B | 3.52B | 3.59B | 4.00B | 4.45B | 4.43B | 4.80B | 4.67B | 4.25B | 4.45B |
| Equity Attributable To Parent (USD) | 1.50B | 1.59B | 1.72B | 1.85B | 1.79B | 1.90B | 1.82B | 1.71B | 1.98B | 2.18B | 2.20B | 2.31B | 2.46B | 2.64B | 2.77B |
| Equity Attributable To Noncontrolling Interest (USD) | 1.50M | 1.52M | 1.56M | 1.59M | 1.63M | 1.68M | 1.73M | 1.77M | 1.82M | 1.88M | 1.03M | 1.61M | 1.61M | 1.61M | 1.61M |
| Equity (USD) | 1.50B | 1.59B | 1.72B | 1.85B | 1.79B | 1.90B | 1.82B | 1.71B | 1.99B | 2.18B | 2.20B | 2.31B | 2.46B | 2.64B | 2.77B |
| Commitments and Contingencies (USD) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt (USD) | 2.22B | 2.22B | 2.05B | 1.98B | - | - | 1.48B | 1.69B | 1.73B | 2.02B | 2.03B | 2.28B | - | 1.42B | 1.47B |
| Noncurrent Liabilities (USD) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Current Liabilities (USD) | 2.53B | 2.53B | 2.33B | 2.24B | 2.14B | 1.84B | 1.70B | 1.88B | 2.01B | 2.27B | 2.24B | 2.48B | 2.20B | 1.61B | 1.67B |
| Liabilities (USD) | 2.53B | 2.53B | 2.33B | 2.24B | 2.14B | 1.84B | 1.70B | 1.88B | 2.01B | 2.27B | 2.24B | 2.48B | 2.20B | 1.61B | 1.67B |
| Noncurrent Assets (USD) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Current Assets (USD) | 4.03B | 4.11B | 4.06B | 4.09B | 3.93B | 3.74B | 3.52B | 3.59B | 4.00B | 4.45B | 4.43B | 4.80B | 4.67B | 4.25B | 4.45B |
| Assets (USD) | 4.03B | 4.11B | 4.06B | 4.09B | 3.93B | 3.74B | 3.52B | 3.59B | 4.00B | 4.45B | 4.43B | 4.80B | 4.67B | 4.25B | 4.45B |
News and Insights
Atlanta, June 13, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (the “Company” or “Piedmont”) (NYSE:PDM) announced today that its operating partnership, Piedmont Operating Partnership, LP (the “Operating Partnership”), has priced an offering of $400 million aggregate principal amount of 6.875% senior unsecured notes due 2029 at 98.993% of the principal amount. The offering is expected to close on June 25, 2024, subject to the satisfaction of customary closing conditions.
Brings YTD leasing to Approximately 1.1 million SF Brings YTD leasing to Approximately 1.1 million SF
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Piedmont's (PDM) securing of a new lease with Travel + Leisure at Downtown, Orlando highlights solid demand for its office buildings.
Will Result in the Relocation of Approximately 900 Jobs to Downtown Orlando Will Result in the Relocation of Approximately 900 Jobs to Downtown Orlando
The headline numbers for Piedmont Office (PDM) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Piedmont Office (PDM) delivered FFO and revenue surprises of 0% and 0.79%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
Atlanta, April 30, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont" or the "Company") (NYSE:PDM), an owner of Class A office properties located primarily in major U.S. Sunbelt markets, today announced its results for the quarter ended March 31, 2024 which included significant leasing activity, strong Same Store NOI growth, as well as previously announced refinancing and disposition activity.
Atlanta, April 24, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) (“Piedmont”), a real estate investment trust (REIT), announced today that its board of directors has declared a regular quarterly cash dividend of $0.125 per share, or $0.50 per share on an annualized basis, for the second quarter of 2024. The dividend will be paid on June 14, 2024 to stockholders of record as of the close of business on May 24, 2024.