PDM · Piedmont Realty Trust, Inc.
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Jul 29, 2026TL;DR. Piedmont beat consensus by a penny, raised 2026 Core FFO guidance to $1.50–$1.55 (up 2.5¢ at the midpoint) and lifted same-store NOI growth guidance to 5%–8%, citing record-high net effective rents of $25.56/sq ft, ~460,000 sq ft of Q2 leasing with 14.1% cash/32.4% accrual roll-ups, and 9.0% same-store cash NOI growth.
- + Raised 2026 Core FFO guidance to $1.50–$1.55 per diluted share, a 2.5¢ increase at the midpoint versus prior guidance.
- + Raised full-year same-store NOI cash and accrual growth guidance to 5%–8%, a 200 bps increase from original 2026 guidance.
- + Achieved record-high quarterly net effective rent after CapEx and opex of $25.56/sq ft, up more than 20% versus the prior trailing-12-month average.
- + Beat consensus by a penny with Q2 Core FFO of $0.38 per diluted share on leasing-driven growth.
- + Same-store cash NOI grew 9.0% in Q2 and 10.0% year-to-date, driven by rental rate increases and free-rent burn-off.
- + Signed ~460,000 sq ft of leasing in Q2 at 14.1% cash and 32.4% accrual rent roll-ups, with $39 million of executed-but-uncommenced leases providing ~570 bps of future occupancy.
- − Reported a Q2 GAAP net loss of $11.1 million ($0.09 per share), although smaller than the prior-year loss.
- − New York City 60 Broad lease (313,000 sq ft, ~$25 million annualized) is in holdover with renewal not expected to wrap up until Q4 2026, creating near-term lease expiration concentration risk.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| AFFO applicable to common stock non-GAAP | $30.99M | Three Months Ended June 30, 2026 filing | — |
| Change period over period in Same Store NOI | 10% | the three months ended June 30, 2026 filing | — |
| Change period over period in Same Store NOI (accrual basis) non-GAAP | 2.8% | Three Months Ended June 30, 2026 filing | — |
| Change period over period in Same Store NOI (cash basis) non-GAAP | 9% | Three Months Ended June 30, 2026 filing | — |
| Core EBITDA non-GAAP | $80.09M | Three Months Ended June 30, 2026 filing | — |
| Core FFO applicable to common stock non-GAAP | $47.86M | Three Months Ended June 30, 2026 filing | — |
| Core FFO per share (diluted) non-GAAP | $0.38 | Three Months Ended June 30, 2026 filing | — |
| EBITDAre non-GAAP | $80.09M | Three Months Ended June 30, 2026 filing | — |
| NAREIT FFO applicable to common stock non-GAAP | $47.86M | Three Months Ended June 30, 2026 filing | — |
| NAREIT FFO per share (diluted) non-GAAP | $0.38 | Three Months Ended June 30, 2026 filing | — |
| Property NOI non-GAAP | $81.13M | Three Months Ended June 30, 2026 filing | — |
| Same Store NOI increase (cash basis) | 9% | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Office — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PDM
this stock
Piedmont Realty Trust, Inc.
|
$1.15B | +6.7% | -0.9% | — | 4.0% |
|
BXP
BXP, Inc.
|
$9.85B | -9.4% | +2.2% | 33.2 | 7.8% |
|
ARE
Alexandria Real Estate Equities, Inc.
|
$8.45B | -3.0% | -2.9% | — | 3.9% |
|
VNO
Vornado Realty Trust
|
$6.48B | +1.8% | +1.3% | 1157.7 | 6.1% |
|
CUZ
Cousins Properties Inc
|
$4.56B | +7.2% | +16.0% | 693.1 | 7.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PDM | -2.7% | -6.7% | +32.1% | -7.0% | +6.7% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -2.1% | -6.8% | +19.9% | -6.4% | -5.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.