Piedmont Office Realty Trust: Attractive Valuation But Risks Remain [Seeking Alpha]
Piedmont Office Realty Trust, Inc. Class A (PDM)
Last piedmont office realty trust, inc. class a earnings: 4/29 04:30 pm
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US:NYSE Investor Relations:
investor.piedmontreit.com/investor-relations
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Source: Seeking Alpha
The company's occupancy rate increased to 87.1% in 2023, up 0.4% Y/Y, but remains below the pre-pandemic 91.2% in 2019. Core FFO dropped 13% in 2023 to $1.74/share with a further 13% decrease expected for 2024, with high interest rates offsetting robust rent growth. Debt accounts for 72% of enterprise value and represents a key risk for the company, along with mediocre occupancy. Continuation of occupancy and rent growth, together with a 7.3% market cap rate, form the goldilocks scenario for common shareholders. Introduction Piedmont Office Realty Trust ( NYSE: PDM ) has largely tracked the performance of the Vanguard Real Estate Index Fund ETF ( VNQ ) in 2024, delivering a 10.5% negative return: I expect the shares to continue Recommended For You Recommended For You
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PDM
News
- Piedmont Office Realty Trust, Inc. (NYSE:PDM) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Piedmont Office (PDM) Reports Q1 Earnings: What Key Metrics Have to Say [Yahoo! Finance]Yahoo! Finance
- Piedmont Office (PDM) Q1 FFO Meet Estimates [Yahoo! Finance]Yahoo! Finance
- Piedmont Office Realty Trust Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Piedmont Office Realty Trust Reports First Quarter 2024 ResultsGlobeNewswire
PDM
Earnings
- 4/30/24 - In-Line
PDM
Sec Filings
- 4/30/24 - Form 8-K
- 4/30/24 - Form 10-Q
- 4/10/24 - Form DEFA14A
- PDM's page on the SEC website