)
Piedmont Office Realty Trust (PDM) investor relations material
Piedmont Office Realty Trust Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record leasing volume in 2025, with 2.5 million sq ft leased, surpassing guidance by 1 million sq ft and representing 16% of the portfolio, driven by strong demand for renovated, amenity-rich office spaces in Sunbelt markets.
Portfolio generated positive cash Same Store NOI growth for five consecutive years, despite sector challenges.
Leased percentage of in-service portfolio increased by 1.2% year-over-year to 89.6% at year-end 2025.
Net loss for Q4 2025 was $43.2 million ($0.35/share), compared to $30.0 million ($0.24/share) in Q4 2024, primarily due to higher interest expense and a $29.8 million loss on early extinguishment of debt.
Core FFO per diluted share for Q4 2025 was $0.35, down from $0.37 in Q4 2024, reflecting higher interest expense and asset sales.
Financial highlights
Q4 2025 total revenues were $142.9 million, nearly flat year-over-year.
Full-year 2025 net loss was $83.6 million ($0.67/share), compared to $79.1 million ($0.64/share) in 2024.
NAREIT FFO for 2025 was $139.9 million ($1.11/share), down from $180.4 million ($1.44/share) in 2024.
Core FFO for 2025 was $177.7 million ($1.41/share), compared to $185.6 million ($1.49/share) in 2024.
Same Store NOI increased 2.2% on a cash basis and decreased 0.6% on an accrual basis in Q4 2025 year-over-year.
Outlook and guidance
2026 Core FFO guidance is $1.47-$1.53 per diluted share, up $0.08 at midpoint over 2025.
Projected property NOI increase of $0.08-$0.13 per share and decreased interest expense of $0.01-$0.02 per share.
Expected leasing activity of 1.7-2 million sq ft in 2026, with year-end lease percentage of 89.5%-90.5%.
Out-of-service assets expected to stabilize at 85–90% leased and return to in-service by end of 2026.
Same Store NOI projected to increase 3–6% on both cash and accrual basis in 2026.
Next Piedmont Office Realty Trust earnings date
Next Piedmont Office Realty Trust earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)