PDM
Piedmont Office Realty Trust
About: Piedmont Office Realty Trust Inc is a real estate investment trust engaged in the acquisition, development, and management of commercial real estate properties throughout the U.S. The company's real estate portfolio is mainly composed of office properties located in the majority of American metropolitan areas. Piedmont derives majority of its revenue in the form of rental income from tenants in mid- to long-term lease agreements. The vast majority of the company's revenue comes from the leasing of its assets in Washington D.C., New York City, Chicago, Atlanta, Minneapolis, Dallas, and Boston. Piedmont's large customers in terms of rental revenue are U.S. Government entities, business services companies, and financial institutions.
Employees: 150
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
486% more call options, than puts
Call options by funds: $211K | Put options by funds: $36K
48% more first-time investments, than exits
New positions opened: 34 | Existing positions closed: 23
39% more capital invested
Capital invested by funds: $787M [Q2] → $1.09B (+$304M) [Q3]
33% more funds holding in top 10
Funds holding in top 10: 3 [Q2] → 4 (+1) [Q3]
5% more funds holding
Funds holding: 228 [Q2] → 239 (+11) [Q3]
8% more repeat investments, than reductions
Existing positions increased: 82 | Existing positions reduced: 76
0.41% less ownership
Funds ownership: 87.6% [Q2] → 87.18% (-0.41%) [Q3]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$11
26%
upside
Avg. target
$11
26%
upside
High target
$11
26%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
Baird Dave Rodgers 0% 1-year accuracy 0 / 1 met price target | 26%upside $11 | Outperform Maintained | 1 Nov 2024 |
Financial journalist opinion
Positive
Seeking Alpha
2 weeks ago
Piedmont Office Realty Trust: Christmas Comes Early This Year (Strong Buy)
Piedmont Office Realty Trust focuses on high-quality office properties, particularly in the Sun Belt region, showing strong financial performance and asset repositioning success. The Sun Belt region's demographic growth supports Piedmont's strategic focus, with significant population increases driving demand for premium office spaces. Piedmont's financial health is robust, with climbing occupancy rates, conservative leverage, and well-covered dividends, indicating resilience and potential for future growth.
Positive
Benzinga
3 weeks ago
Wall Street's Most Accurate Analysts Give Their Take On 3 Real Estate Stocks Delivering High-Dividend Yields
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
Neutral
Seeking Alpha
1 month ago
Piedmont Office Realty Trust, Inc. (PDM) Q3 2024 Earnings Call Transcript
Piedmont Office Realty Trust, Inc. (NYSE:PDM ) Q3 2024 Earnings Conference Call October 25, 2024 9:00 AM ET Company Participants Laura Moon - Senior Vice President and Chief Accounting Officer Brent Smith - President and Chief Executive Officer George Wells - Executive Vice President and Chief Operating Officer Christopher Kollme - Executive Vice President, Investments Robert Bowers - Executive Vice President and Chief Financial and Administrative Officer Sherry Rexroad - Executive Vice President Finance Conference Call Participants Anthony Paolone - JPMorgan Michael Lewis - Truist Securities Nick Thillman - Baird Dylan Burzinski - Green Street Operator Greetings. Welcome to the Piedmont Office Realty Trust Incorporated Third Quarter 2024 Earnings Call.
Positive
Zacks Investment Research
1 month ago
Piedmont Office (PDM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Although the revenue and EPS for Piedmont Office (PDM) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Negative
Zacks Investment Research
1 month ago
Piedmont Office (PDM) Q3 FFO and Revenues Miss Estimates
Piedmont Office (PDM) came out with quarterly funds from operations (FFO) of $0.36 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to FFO of $0.43 per share a year ago.
Neutral
GlobeNewsWire
1 month ago
Piedmont Office Realty Trust Reports Third Quarter 2024 Results
YTD Leasing of approximately Two Million SF lifts Portfolio to 88.8% Leased YTD Leasing of approximately Two Million SF lifts Portfolio to 88.8% Leased
Neutral
GlobeNewsWire
2 months ago
Piedmont REIT Signs over 461,000 SF of Leases during Third Quarter
YTD Leasing of approximately Two Million SF lifts Portfolio to 88.8% Leased YTD Leasing of approximately Two Million SF lifts Portfolio to 88.8% Leased
Neutral
GlobeNewsWire
2 months ago
Piedmont Office Realty Trust Reports Virtually No Damage From Hurricane Milton
Atlanta, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM), an owner of Class A office properties located primarily in major U.S. Sunbelt markets, including Orlando, FL, announced today that its property management team, after reviewing detailed property reports for all of the Company's Orlando assets, has reported virtually no damage to any of Piedmont's properties from Hurricane Milton and that all personnel in the affected areas are reported safe.
Neutral
GlobeNewsWire
2 months ago
Piedmont Office Realty Trust, Inc. to Report Third Quarter 2024 Financial Results
Atlanta, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Atlanta, GA – October 8, 2024 – Piedmont Office Realty Trust (NYSE: PDM) announced today that the Company will release its third quarter financial results on Thursday, October 24, 2024, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Friday, October 25, 2024 at 9:00 a.m. Eastern time and will be broadcast live in listen-only mode on the company's investor relations website at investor.piedmontreit.com. During the conference call, the Company's management team will review third quarter performance, discuss recent events, and conduct a question-and-answer period.
Neutral
GlobeNewsWire
2 months ago
Piedmont Office Realty Trust, Inc. Announces CFO Transition
Atlanta, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (NYSE:PDM) today announced that Robert E.
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