Piedmont Realty Trust, Inc. PDM

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Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy
Sell
Insider Ownership 1.27%

Capital & Financial Ratios

Market Cap 1,140.00
Revenue 569.43
Net Income (80.71)
Free Cash Flow 31.69
Net Debt 2,229.19
Current Ratio 1.36
Debt/Equity 1.53
P/E ratio 0.00
P/S ratio 2.05
P/B ratio 0.79
Past 5Y EPS Growth 5.29%
This Y EPS Growth 64.80%
Next Y EPS Growth 68.44%
Next 5Y EPS Growth 90.02%
in millions of $

Dividends

Payout Ratio 1.22
Annual Dividend Rate 0.50
Annual Dividend Yield 7.65%
total individual payouts
2028 ‡‡‡‡
2027 ‡‡‡‡‡
2026 ‡‡‡‡‡
2025 0.13
2024 0.50
2023 0.67
2022 0.84
2021 0.84
2020 0.84
2019 0.84
2018 0.84
2017 0.84
2016 0.84
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 4.21 113.88 3.79 21.75
Receivables 190.77 199.31 220.44 231.08
Inventory
Other
194.98 313.19 224.23 252.82
2023 2024 2025 Q'26
Payables 131.52 149.05 172.88 185.34
ST’ Debt
Other
131.52 149.05 172.88 185.34
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡ ‡‡‡ ‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 143.29 144.12
’25 142.69 140.29 139.16 142.85 564.99
’24 144.54 143.26 139.29 143.23 570.32
’23 142.37 143.07 146.99 145.33 577.76
’22 136.15 136.31 144.10 147.21 563.77
’21 129.26 130.22 131.07 138.16 528.71
’20 137.17 134.63 131.69 131.53 535.02
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 28.11 64.35
’25 3.71 50.10 35.81 50.94 140.57
’24 23.36 66.83 42.88 65.04 198.11
’23 40.40 54.82 65.31 49.60 210.13
’22 39.85 51.93 72.21 51.23 215.22
’21 46.82 53.37 64.84 77.17 242.20
’20 46.80 43.78 48.23 54.47 193.28
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 (10.17) 30.78
’25 (30.25) 33.85 1.57 9.51 14.68
’24 30.61 15.90 21.47 (7.08) 60.90
’23 4.21 19.35 23.57 6.75 53.89
’22 150.88 25.37 (235.08) 179.16 120.34
’21 21.06 24.43 36.07 (187.99) (106.43)
’20 (382.43) 372.06 23.23 10.88 23.74
in millions of $

EPS

Mar Jun Sep Dec Year
’26 (0.10) (0.09)
’25 (0.08) (0.14) (0.11) (0.35) (0.67)
’24 (0.22) (0.08) (0.09) (0.24) (0.64)
’23 (0.01) (0.02) (0.14) (0.23) (0.39)
’22 0.49 0.06 0.03 0.61 1.19
’21 0.08 0.08 0.09 (0.26) (0.01)
’20 0.07 1.52 0.07 0.18 1.85

Target Price Range

High ‡‡‡‡‡ ‡‡‡‡
Average ‡‡‡‡‡ ‡‡‡‡
Low ‡‡‡‡‡ ‡‡‡‡

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell
Powerpack only forecast
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ 8.72 4.91 5.93 5.46
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 19.84 11.37 11.12 9.25
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 149 150 150 140
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.78 3.85 3.80 4.04
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 563.77 577.76 570.32 564.99 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 59.90% 59.31% 58.95% 59.67%
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (4.90) (48.38) (79.06) (83.60)
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.87%) (8.37%) (13.86%) (14.80%) ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 146.83 (48.38) (79.06) (83.60) ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 219.15 232.70 227.74 232.24
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.57 4.67 4.60 4.54 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡‡ ‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ 1.19 (0.39) (0.64) (0.67) ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.74 1.70 1.60 1.13
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.77) (1.26) (1.11) (1.01) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.98 0.44 0.49 0.12
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 14.99 13.93 12.81 12.03
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 123.35 123.66 123.94 124.44 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡ 7.87 0.00 0.00 0.00 ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.05 1.58 1.99 1.84 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.63 0.53 0.71 0.69 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6.15 5.82 6.39 6.48 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 28.83 62.41 59.82 249.32
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 215.22 210.13 198.11 140.57 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (94.88) (156.24) (137.22) (125.89)
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 120.34 53.89 60.90 14.68
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 86.08 63.46 164.14 51.35
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,333.68 2,054.60 2,222.35 2,224.71
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,314.08 2,050.39 2,108.46 2,220.92
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,849.26 1,722.97 1,588.13 1,496.70
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.66% (1.19%) (1.94%) (2.05%)
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.87% 0.79% 0.68% 1.34%
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.07% (2.71%) (4.78%) (5.42%)
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Piedmont Realty Trust (PDM), an office-focused REIT, has seen its stock plummet 70% from mid-2010s peaks to sub-$6 levels amid post-COVID office demand shifts, with earnings margins collapsing from over 43% to -13.8% in 2024 due to occupancy declines and high leverage. Despite this, revenue has remained remarkably stable at $525-578 million since 2017, supporting predictable rental income crucial for REIT dividends and FFO, even as profitability eroded into net losses and FCF per share swung erratically.

Valuation metrics scream deep value: price-to-sales at 1.99x, price-to-book at 0.71x, and a 20-30% discount to office REIT peers, amplified by $2.22 billion in debt. Insider confidence shines through recent buys by top executives totaling $228,000 at trough prices, with no sells, signaling alignment and historical outperformance in similar setups.

Analyst forecasts offer hope, projecting revenue recovery to $583 million by 2027, EPS turning positive at $0.066, and ROE rebounding, with price targets implying 9-33% upside on Fed rate cuts, return-to-office trends, and lease-ups in Sun Belt markets. Regression models tie 60% of price moves to margins and FCF, positioning PDM as a high-conviction overweight for value hunters eyeing 20-30% returns over 24 months—watch Q1 2026 occupancy for the inflection.

Piedmont Realty Trust, Inc. (PDM) Latest News

News by impact score

Fine-tune

14 Sep

3 , 10:51 PM

Piedmont Realty Trust, Inc. prices $200,000,000 exchangeable senior notes offering. Notes issuance adds $200 million in debt and potential equity dilution while supplying liquidity for operations or refinancing.

30 Jul

3 transcript www.marketbeat.com, 2:03 AM

Piedmont Realty Trust reported Q2 earnings call highlights covering financial results, operational updates, and outlook for the REIT. Q2 earnings data offers performance details likely to influence near-term investor views without major strategic shifts.

29 Jul

3 transcript , 5:01 PM

Piedmont Realty Trust Inc (PDM) highlighted strong leasing activity in its Q2 2026 earnings call. Strong leasing activity signals improved occupancy and revenue potential but does not alter long-term strategy.

3 transcript app.moby.co, 8:30 AM

Piedmont Office Realty Trust, Inc. held its Q2 2026 earnings call covering financial results, leasing activity, and operational outlook. Quarterly earnings updates supply financial metrics that can shift near-term investor sentiment without altering long-term strategy.

28 Jul

3 , 6:00 PM

Piedmont Realty Trust (PDM) Q2 FFO and revenues exceeded estimates. Earnings beat indicates stronger quarterly results likely to support near-term stock performance.

3 , 4:15 PM

Piedmont Realty Trust, Inc. reported financial results for the second quarter of 2026. Quarterly earnings data supplies performance metrics that can shift near-term stock valuation and sentiment.

2 Jun

3 Zacks, 9:34 AM

Piedmont Realty Trust reports a surge in leasing activity that highlights robust demand for premium office properties. Leasing gains support higher occupancy and revenue outlook for the REIT.

1 Jun

3 GlobeNewswire, 7:13 AM

Piedmont REIT signed 240,000 SF of leases in the second quarter to date, bringing year-to-date leasing to approximately 670,000 SF. Leasing volume of this scale supports occupancy and revenue stability for the REIT.

2 May

4 GuruFocus.com, 3:02 AM

Piedmont Realty Trust Inc (PDM) reported record rental rates in Q1 2026 earnings call highlights, alongside strong operational performance and positive outlook. Record rental rates demonstrate strong leasing demand and revenue growth potential, significantly boosting PDM's future performance and investor sentiment.

4 www.marketbeat.com, 2:08 AM

Piedmont Realty Trust released highlights from its Q1 earnings call, covering financial results, operational updates, leasing activity, and forward guidance for the office REIT. Q1 earnings highlights detail core financial metrics, occupancy rates, and outlook that directly shape investor expectations and stock performance.

1 May

4 app.moby.co, 8:30 AM

Piedmont Office Realty Trust, Inc. (PDM) released Q1 2026 earnings call summary detailing financial results, portfolio performance, leasing activity, and forward guidance. Q1 2026 earnings call summary discloses key financial metrics, occupancy trends, and outlook directly impacting PDM's valuation and market trajectory.

30 Apr

3 GlobeNewswire, 4:15 PM

Piedmont Realty Trust, Inc. (PDM) released first quarter 2026 results. Quarterly earnings release affects key financial metrics and short-term investor sentiment.

6 Apr

3 Simply Wall St., 6:08 PM

Piedmont Realty Trust (PDM)'s investment story shifts amid evolving cash flows and occupancy levels. Shifts in cash flows and occupancy will moderately affect PDM's financial performance but remain balanced by broader market factors.

1 Apr

3 , 1:20 PM

VICI Properties expands its Canadian footprint through a $144 million sale-leaseback deal with Piedmont Realty Trust, Inc. (PDM). $144M sale-leaseback deal monetizes assets for PDM while allowing continued operations, moderately affecting its financial position and portfolio.

12 Mar

3 Zacks, 9:35 AM

Piedmont Realty Trust (PDM) stock plunged 19.9% over four weeks amid market pressures, but improving fundamentals, attractive valuation, and bullish technical signals suggest the downtrend may reverse soon. Potential reversal after a 19.9% plunge could moderately improve market sentiment and short-term performance without fundamentally altering long-term operations.

13 Feb

3 Simply Wall St., 7:27 PM

Piedmont Realty Trust, Inc. (PDM) experienced a 6.9% decline despite achieving record leasing activity, as the company reported wider losses. Analysts are questioning whether the positive leasing results can offset the financial setbacks and what this means for the company's future outlook. Record leasing activity may provide some positive momentum, but the wider losses indicate underlying challenges that could limit overall impact.

3 transcript www.marketbeat.com, 2:09 AM

Piedmont Realty Trust, Inc. reported its Q4 earnings, highlighting key financial metrics and strategic initiatives. The company emphasized its commitment to enhancing shareholder value through effective asset management and operational efficiencies. Management discussed market trends impacting the real estate sector and outlined future growth strategies aimed at capitalizing on emerging opportunities. Overall, the earnings call provided insights into the company's performance and outlook amidst a dynamic market environment. Moderate influence on financial performance and strategic positioning is expected due to market trends and growth strategies discussed.

12 Feb

4 , 4:01 PM

Piedmont Realty Trust, Inc. (PDM) reported record leasing volume in Q4 2025, highlighting strong demand for its properties. The company emphasized its strategic initiatives and operational efficiencies that contributed to this performance. Management expressed optimism about future growth and market conditions, indicating a positive outlook for the upcoming quarters. Record leasing volume and strategic initiatives are likely to significantly impact future performance and investor sentiment.

3 transcript app.moby.co, 12:33 PM

Piedmont Realty Trust, Inc. reported its Q4 2025 earnings, highlighting key financial metrics and operational updates. The company noted changes in occupancy rates and rental income, alongside strategic initiatives aimed at enhancing portfolio performance. Management provided insights into market conditions and future outlook, emphasizing a commitment to sustainable growth and shareholder value. Overall, the earnings call reflected a cautious yet optimistic perspective on navigating current economic challenges. Moderate changes in occupancy and rental income could influence financial performance and market sentiment.

11 Feb

4 GlobeNewswire, 4:15 PM

Piedmont Realty Trust, Inc. reported its fourth quarter and annual results for 2025, highlighting key financial metrics and operational performance. The company demonstrated growth in revenue and net income, driven by strategic investments and portfolio management. Management provided insights into future plans and market conditions, emphasizing a positive outlook for the upcoming year. The reported results indicate significant growth and strategic direction that could notably influence investor sentiment and market performance.

3 Zacks, 5:40 PM

Piedmont Realty Trust, Inc. (PDM) reported its fourth-quarter funds from operations (FFO) matching analysts' estimates. The results indicate stable performance in the company's financial metrics, reflecting consistent operational management and market positioning. Investors may view this alignment with expectations as a positive sign for future performance. The FFO results align with estimates, indicating stable performance but not a significant shift in trajectory.

3 Associated Press FinanceCoinMarketCapReuters VideosCoinDeskYahoo FinanceThe Daily Upside99bitcoinsThe Block, 4:38 PM

Piedmont Realty Trust, Inc. reported its Q4 earnings, highlighting key financial metrics and operational performance. The results indicate a stable revenue stream and strategic initiatives aimed at enhancing portfolio value. Management provided insights into future growth prospects and market conditions affecting the real estate sector. Overall, the earnings report reflects the company's resilience amid economic fluctuations. The earnings report indicates stable performance but does not suggest any major shifts in strategy or market dynamics.

10 Feb

3 Simply Wall St., 10:13 PM

Piedmont Realty Trust, Inc. (PDM) is currently assessed as undervalued by 12.4%, indicating a potential investment opportunity. Analysts suggest that the company's fair value narrative supports this assessment, highlighting favorable market conditions and solid fundamentals. Investors are encouraged to consider this valuation as part of their decision-making process. The undervaluation suggests a moderately noticeable influence on investor sentiment and potential financial performance.

3 Feb

3 GlobeNewswire, 4:15 PM

Piedmont Realty Trust, Inc. has announced the promotion of Alex Valente to Co-Chief Operating Officer. This strategic move is expected to enhance the company's operational leadership and drive future growth initiatives. The promotion of a Co-Chief Operating Officer may influence operational efficiency and leadership dynamics, but its overall impact on the company's trajectory is expected to be limited.

13 Jan

4 Simply Wall St., 12:13 PM

Piedmont Realty Trust, Inc. (PDM) has achieved record leasing activity in the Sunbelt region and made significant progress in transforming its portfolio. The company is focusing on enhancing its asset quality and optimizing its operations, which is expected to positively influence its valuation and market position. The strategic moves are aimed at capitalizing on favorable market conditions and improving overall financial performance. Significant leasing activity and portfolio transformation are likely to enhance the company's market position and investor sentiment.

4 Simply Wall St., 6:08 AM

Piedmont Realty Trust, Inc. (PDM) is experiencing record leasing activity in the Sunbelt region, coupled with higher occupancy rates, which could significantly enhance its market position and financial performance. This surge in demand is attributed to favorable economic conditions and demographic trends, positioning PDM for potential growth and increased investor interest. Record leasing and higher occupancy rates are likely to significantly impact financial performance and investor sentiment.

12 Jan

4 GlobeNewswire, 4:16 PM

Piedmont Realty Trust, Inc. has successfully leased 2.5 million square feet of office space during 2025, reflecting strong demand in the commercial real estate market. This leasing activity is expected to enhance the company's portfolio and revenue streams, positioning it favorably in a competitive landscape. The significant leasing activity is likely to have a major impact on future revenue and market positioning.

3 GlobeNewswireSimply Wall St.BarchartMT NewswiresMotley FoolSimply Wall St.BarchartBarchart, 4:20 PM

Piedmont Realty Trust, Inc. (PDM) is set to report its financial results for the fourth quarter and the full year of 2025. The announcement is anticipated to provide insights into the company's performance and strategic direction moving forward. The financial results report may moderately influence investor sentiment and provide insights into the company's operational performance.

8 Dec

4 , 6:30 AM

Piedmont Realty Trust, Inc. has signed over 475,000 square feet of leases in the fourth quarter to date, bringing the total leasing for the year to approximately 2.3 million square feet. This leasing activity reflects the company's ongoing efforts to enhance its portfolio and respond to market demands. The significant leasing activity indicates a strong demand for Piedmont's properties, likely enhancing its financial performance and market position.

21 Nov

3 ZacksSimply Wall St.Simply Wall St.ZacksInsider MonkeyGuruFocus.comGuruFocus.comZacks, 9:40 AM

Piedmont Realty Trust, Inc. (PDM) is currently being evaluated for potential undervaluation in the stock market. Analysts are examining various factors, including market trends and financial performance, to determine if the stock presents a buying opportunity. The company's recent performance and strategic initiatives are also under scrutiny as investors seek to understand its future prospects. Current evaluations suggest a moderate influence on PDM's financial performance and market sentiment.