Streetbeat News

PDM

Piedmont Office Realty Trust, Inc.

https://www.piedmontreit.com

Industry

REIT - Office

Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt. Its geographically-diversified, approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully-integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody's (Baa2). At the end of the third quarter, approximately 63% of the company's portfolio was ENERGY STAR certified and approximately 41% was LEED certified.

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Truist Securities has reiterated its Buy rating on Piedmont Office Realty (NYSE:PDM) and raised the price target from $10 to $11.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 2:13 pm

Piedmont Office Realty Trust has revised its FY24 Core FFO outlook from $1.46 - $1.56 to $1.46 - $1.52, with an estimated $1.50. This adjustment reflects the impact of a recent $400 million bond issuance.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 9:55 pm

Piedmont Office Realty (NYSE:PDM) reported Q2 2024 earnings per share of $0.37, meeting analyst expectations but showing a 17.78% decrease from the previous year. The company reported sales of $143.262 million, beating the estimate of $141.335 million by 1.36% and showing a slight increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 9:29 pm

Piedmont Office Realty (PDM) reported Q1 2024 FFO of $0.39 per share, surpassing the $0.38 estimate, with sales of $144.538M exceeding the $143.202M forecast. This represents a 1.52% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:46 pm

With interest rates at their highest in over two decades, investors are increasingly turning to corporate bonds, seeking higher yields and diversification from equities. Investment-grade bonds, issued by stable companies, offer safer investment options compared to high-yield bonds from riskier firms. Companies like Nvidia, Amazon, Apple, Eli Lilly, and Walt Disney are rated as investment grade, while AMC Entertainment, Office Property Income Trust, and Navient Corporation are considered speculative grade. The article lists the top 10 investment-grade corporate bonds with the highest yields as of April 2024, including issuers like Prospect Capital, Piedmont Office Realty Trust, Td Synnex Corp, Charter Communications, Vornado Realty Trust, Ford Motor Co, Monsanto (owned by Bayer A.G.), Vici Properties, Ally Financial, and Concentrix Corp.

Portfolio Pulse from Piero Cingari

April 05, 2024 | 4:24 pm

Piedmont Office Realty Trust projects its FY24 Core FFO to range between $1.46 and $1.56, compared to the estimated $1.53.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:21 pm

Piedmont Office Realty (NYSE:PDM) reported Q4 2023 FFO of $0.41 per share, meeting analyst estimates, but missed sales expectations with $145.33M against a $146.14M estimate, marking a 1.28% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 9:35 pm

Numerous companies are scheduled to report their earnings on February 7, 2024, covering a wide range of industries from technology to healthcare. Notable mentions include Madison Square Garden, Scotts Miracle Gro, TotalEnergies, Equinor, Euronet Worldwide, Flex LNG, Alibaba Group Holding, and many others. The earnings reports are expected to provide insights into the companies' financial health and market performance.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 10:13 am

Piedmont Office Realty Trust has projected its FY23 Core FFO to be between $1.74 and $1.80.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:43 pm

Piedmont Office Realty Trust has reported a decrease in its Q3 2023 Core FFO from $0.50 YoY to $0.43.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:41 pm

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