piedmont office realty trust, inc. (nyse: pdm) is a fully integrated and self-managed real estate investment trust (reit) specializing in the ownership and management of high-quality class a office buildings located primarily in the ten largest u.s. office markets, including chicago, washington, d. c., new york, dallas, los angeles, and boston. piedmont's wholly-owned office buildings comprise approximately 21 million rentable square feet. the company is headquartered in atlanta, ga, with local management offices in each of its major markets. investment-grade rated by standard & poor's (bbb) and moody's (baa2), piedmont has maintained a low-leverage strategy while transacting almost $6 billion and approximately $1.5 billion in property acquisitions and dispositions, respectively, during its fifteen year operating history.
Company profile
Ticker
PDM
Exchange
Website
CEO
C. Brent Smith
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
WELLS REAL EASTATE INVESTMENT TRUST INC, WELLS REAL ESTATE INVESTMENT TRUST INC
SEC CIK
Corporate docs
Subsidiaries
Piedmont Operating Partnership, LP • Piedmont Washington Properties, Inc. • Piedmont Office Holdings, Inc. • Piedmont Office Holdings • Piedmont Office Management, LLC • Piedmont Government Services, LLC • Piedmont Leasing, LLC • Piedmont-Las Colinas Springing Member, LLC • Piedmont-3100 Clarendon LLC • 4250 North Fairfax Property LLC ...
IRS number
582328421
PDM stock data
Latest filings (excl ownership)
S-8
Registration of securities for employees
7 May 24
8-K
Entry into a Material Definitive Agreement
7 May 24
8-K
Piedmont Office Realty Trust Reports First Quarter 2024 Results
30 Apr 24
10-Q
2024 Q1
Quarterly report
30 Apr 24
DEFA14A
Additional proxy soliciting materials
9 Apr 24
DEFA14A
Additional proxy soliciting materials
14 Mar 24
DEF 14A
Definitive proxy
14 Mar 24
10-K
2023 FY
Annual report
20 Feb 24
8-K
Piedmont Office Realty Trust Reports Fourth Quarter and Annual 2023 Results
7 Feb 24
8-K
Entry into a Material Definitive Agreement
30 Jan 24
Transcripts
PDM
Earnings call transcript
2024 Q1
1 May 24
PDM
Earnings call transcript
2023 Q4
8 Feb 24
PDM
Earnings call transcript
2023 Q3
31 Oct 23
PDM
Earnings call transcript
2023 Q2
20 Jul 23
PDM
Earnings call transcript
2023 Q1
2 May 23
PDM
Earnings call transcript
2022 Q4
9 Feb 23
PDM
Earnings call transcript
2022 Q3
6 Nov 22
PDM
Earnings call transcript
2022 Q2
30 Jul 22
PDM
Earnings call transcript
2022 Q1
28 Apr 22
PDM
Earnings call transcript
2021 Q4
8 Feb 22
Latest ownership filings
Financial summary
Quarter (USD) | Mar 24 | Dec 23 | Sep 23 | Jun 23 | |
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Diluted EPS |
Annual (USD) | Dec 23 | Dec 22 | Dec 21 | Dec 20 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 7.77 mm | 7.77 mm | 7.77 mm | 7.77 mm | 7.77 mm | 7.77 mm |
Cash burn (monthly) | (no burn) | 13.92 mm | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 22.98 mm | n/a | n/a | n/a | n/a |
Cash remaining | n/a | -15.21 mm | n/a | n/a | n/a | n/a |
Runway (months of cash) | n/a | -1.1 | n/a | n/a | n/a | n/a |
Institutional ownership, Q4 2023
48.8% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 177 |
Opened positions | 24 |
Closed positions | 81 |
Increased positions | 56 |
Reduced positions | 63 |
13F shares | Current |
---|---|
Total value | 413.55 bn |
Total shares | 60.51 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 18.83 mm | $133.85 bn |
STT State Street | 6.26 mm | $45.25 bn |
Charles Schwab Investment Management | 3.41 mm | $24.26 bn |
Fuller & Thaler Asset Management | 2.81 mm | $20.01 bn |
MS Morgan Stanley | 2.18 mm | $15.50 bn |
Wilsey Asset Management | 1.93 mm | $13.73 bn |
Dimensional Fund Advisors | 1.70 mm | $12.08 bn |
Glenmede Trust Co Na | 1.64 mm | $11.68 bn |
NTRS Northern Trust | 1.46 mm | $10.36 bn |
Cbre Clarion Securities | 1.45 mm | $10.30 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
7 May 24 | Taysom Dale H. | Common Stock | Payment of exercise | Dispose F | No | No | 6.95 | 4,224 | 29.36 k | 61,381.882 |
7 May 24 | Taysom Dale H. | Common Stock | Option exercise | Acquire M | No | No | 0 | 15,220 | 0.00 | 65,605.882 |
7 May 24 | Taysom Dale H. | RSU Common Stock | Grant | Acquire A | No | No | 0 | 14,388 | 0.00 | 14,388 |
7 May 24 | Taysom Dale H. | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 15,220 | 0.00 | 0 |
7 May 24 | Lang Barbara B | Common Stock | Payment of exercise | Dispose F | No | No | 6.95 | 4,566 | 31.73 k | 41,120 |
7 May 24 | Lang Barbara B | Common Stock | Option exercise | Acquire M | No | No | 0 | 15,220 | 0.00 | 45,686 |
7 May 24 | Lang Barbara B | RSU Common Stock | Grant | Acquire A | No | No | 0 | 14,388 | 0.00 | 14,388 |
7 May 24 | Lang Barbara B | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 15,220 | 0.00 | 0 |
7 May 24 | Mary M. Hager | Common Stock | Option exercise | Acquire M | No | No | 0 | 15,220 | 0.00 | 19,585 |
7 May 24 | Mary M. Hager | RSU Common Stock | Grant | Acquire A | No | No | 0 | 14,388 | 0.00 | 14,388 |
News
Piedmont Office Realty Q1 2024 FFO $0.39 Beats $0.38 Estimate, Sales $144.538M Beat $143.202M Estimate
30 Apr 24
Real Estate, Regional Bank Stocks Tank, Energy Cushions The Blow: March Inflation Rates Shake Up Sectors
10 Apr 24
Wondering Where To Find An Over 7% Annual Return? Check Out These 10 Investment-Grade Corporate Bonds
5 Apr 24
Press releases
Travel + Leisure Chooses Piedmont's 501 W. Church Building in Downtown Orlando for New Headquarters Location
14 May 24
Piedmont Office Realty Trust Declares Second Quarter Dividend
24 Apr 24
Piedmont Office Realty Trust, Inc. to Report First Quarter 2024 Financial Results
9 Apr 24
Piedmont Office Realty Trust Earns ENERGY STAR® Partner Of The Year Sustained Excellence
28 Mar 24
Piedmont Completes Sale of One Lincoln Park
20 Mar 24