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)
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
8-K
Entry into a Material Definitive Agreement
11 Dec 23
424B2
Prospectus for primary offering
6 Dec 23
FWP
Free writing prospectus
5 Dec 23
424B5
Prospectus supplement for primary offering
5 Dec 23
8-K
Piedmont Office Realty Trust Reports Third Quarter 2023 Results
30 Oct 23
Transcripts
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
PDM
Earnings call transcript
2021 Q3
28 Oct 21
Latest ownership filings
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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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) | 11.03 mm | 11.03 mm | 11.03 mm | 11.03 mm | 11.03 mm | 11.03 mm |
Cash burn (monthly) | (no burn) | 151.42 k | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 903.43 k | n/a | n/a | n/a | n/a |
Cash remaining | n/a | 10.12 mm | n/a | n/a | n/a | n/a |
Runway (months of cash) | n/a | 66.9 | n/a | n/a | n/a | n/a |
Institutional ownership, Q3 2023
81.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 234 |
Opened positions | 26 |
Closed positions | 31 |
Increased positions | 78 |
Reduced positions | 88 |
13F shares | Current |
---|---|
Total value | 566.40 bn |
Total shares | 101.08 mm |
Total puts | 23.10 k |
Total calls | 8.50 k |
Total put/call ratio | 2.7 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 18.80 mm | $105.67 bn |
BLK Blackrock | 15.57 mm | $87.49 bn |
STT State Street | 6.14 mm | $34.52 bn |
LSV Asset Management | 4.55 mm | $25.49 bn |
Private Management | 4.47 mm | $25.11 bn |
Charles Schwab Investment Management | 3.20 mm | $18.00 bn |
Geode Capital Management | 2.88 mm | $16.17 bn |
Fuller & Thaler Asset Management | 2.82 mm | $15.87 bn |
MS Morgan Stanley | 2.78 mm | $15.65 bn |
Wilsey Asset Management | 1.82 mm | $10.21 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
23 Feb 24 | Wiberg Robert K | Common Stock | Payment of exercise | Dispose F | No | No | 6.14 | 1,778 | 10.92 k | 154,580 |
23 Feb 24 | Wiberg Robert K | Common Stock | Option exercise | Acquire M | No | No | 0 | 3,696 | 0.00 | 156,358 |
23 Feb 24 | Wiberg Robert K | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 3,696 | 0.00 | 42,982 |
23 Feb 24 | Wells George M. | Common Stock | Payment of exercise | Dispose F | No | No | 6.14 | 2,540 | 15.60 k | 99,908 |
23 Feb 24 | Wells George M. | Common Stock | Option exercise | Acquire M | No | No | 0 | 5,280 | 0.00 | 102,448 |
23 Feb 24 | Wells George M. | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 5,280 | 0.00 | 72,062 |
23 Feb 24 | Moon Laura P | Common Stock | Payment of exercise | Dispose F | No | No | 6.14 | 1,191 | 7.31 k | 56,784 |
23 Feb 24 | Moon Laura P | Common Stock | Option exercise | Acquire M | No | No | 0 | 2,640 | 0.00 | 57,975 |
23 Feb 24 | Moon Laura P | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 2,640 | 0.00 | 30,759 |
23 Feb 24 | Kollme Christopher A. | Common Stock | Payment of exercise | Dispose F | No | No | 6.14 | 1,905 | 11.70 k | 80,508 |
Press releases
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
PIEDMONT OFFICE REALTY TRUST DECLARES FIRST QUARTER DIVIDEND
1 Feb 24
Piedmont Office Realty Trust Announces Tax Treatment of 2023 Dividends
16 Jan 24
Piedmont Office Realty Trust, Inc. to Report Fourth Quarter and Annual 2023 Financial Results
11 Jan 24