Piedmont Realty Trust, Inc. (NYSE: PDM) is a fully integrated, self-managed real estate investment trust (REIT) specializing in the ownership, management, development, and operation of high-quality, Class A office properties primarily located in major U.S. Sunbelt markets. With a portfolio encompassing approximately 16 million square feet, Piedmont is dedicated to creating transformative work environments that foster a sense of belonging and enhance company culture. The company's mission is to deliver exceptional office environments through a hospitality-driven approach, prioritizing client-centric experiences while generating value for shareholders.
In June 2025, the company rebranded from Piedmont Office Realty Trust to Piedmont Realty Trust to better reflect its focus on "Piedmont PLACEs," designed to elevate the workday and provide a higher standard of service for clients. This strategic shift underscores Piedmont's commitment to transforming traditional office buildings into cohesive, premium workspaces paired with an elevated service model.
Piedmont's strategic focus centers on creating value through the acquisition, development, ownership, and progressive management of premier properties in select Sunbelt markets. These markets are characterized by diverse industry bases, high population and job growth, favorable business environments, and attractive long-term fundamentals. By concentrating in distinct submarkets, Piedmont aims to accumulate scale and leverage its leading positions to drive growth. The company's portfolio is well-positioned to meet the evolving needs of today's office users by offering highly amenitized, sustainable, and wellness-infused mixed-use environments, delivering a best-in-class hospitality-driven office experience to attract top talent and strong tenants.
As of July 11, 2025, Piedmont Realty Trust's stock (NYSE: PDM) closed at $7.61 per share. The company reported revenue of $570.32 million for the most recent fiscal year, with a net loss of $79.06 million. The price-to-sales ratio stands at 1.68, and the price-to-book ratio is 0.61. Piedmont's debt-to-equity ratio is 1.40, indicating a significant level of leverage. The company pays an annual dividend of $0.50 per share, yielding approximately 6.6%.
In the fourth quarter of 2023, Piedmont completed approximately 816,000 square feet of leasing, bringing the total for the year to 2.2 million square feet. Notably, the company secured a 77,000-square-foot lease with GE Vernova at Galleria 600 in Atlanta, GA, through 2036, and renewed a 447,000-square-foot headquarters lease with US Bancorp at US Bancorp Center in Minneapolis, MN, through 2034. As of December 31, 2023, the company's leased percentage increased to 87.1%, up from 86.7% a year earlier.
Piedmont Realty Trust's portfolio is distinguished by its focus on creating "Piedmont PLACEs," which are designed to elevate the workday experience and reflect a higher standard of service for clients. This approach involves transforming traditional office buildings into cohesive, premium workspaces paired with an elevated service model. The company's commitment to sustainability is evident in its recognition as a 2024 ENERGY STAR Partner of the Year - Sustained Excellence.
The leadership team at Piedmont Realty Trust is composed of experienced professionals dedicated to executing the company's strategic vision. Brent Smith serves as the President and Chief Executive Officer, overseeing the company's operations and strategic initiatives. The team also includes highly skilled professionals in each of Piedmont's core markets, fostering local relationships with tenants, brokers, and other stakeholders.
In February 2024, Piedmont announced the appointment of a new Chief Financial Officer, succeeding the previous CFO who retired after a decade of service. This leadership change is part of the company's ongoing efforts to strengthen its executive team and support its strategic objectives.
Piedmont Realty Trust operates in the competitive office REIT sector, with key competitors including American Assets Trust (NYSE: AAT), Brandywine Realty Trust (NYSE: BDN), Boston Properties (NYSE: BXP), Cousins Properties (NYSE: CUZ), Douglas Emmett (NYSE: DEI), Highwoods Properties (NYSE: HIW), JBG SMITH Properties (NYSE: JBGS), Kilroy Realty (NYSE: KRC), SL Green Realty (NYSE: SLG), and Vornado Realty Trust (NYSE: VNO). These companies are all part of the finance sector and compete in various aspects such as market presence, property portfolio, and tenant services.
Piedmont Realty Trust has established significant collaborations and partnerships to enhance its market position and innovation capacity. The company focuses on creating environments that promote collaboration, offer convenience, and cultivate a sense of connection, whether in bustling cities or serene suburbs. Piedmont PLACEs are designed to offer intentional spaces where people, collaboration, and service thrive.
Piedmont Realty Trust's strategic considerations involve maintaining a flexible capital structure and conservative leverage metrics. The company is currently rated Baa3 by Moody’s and BB+ by S&P, reflecting its commitment to financial strength and stability. Piedmont's portfolio is well-positioned to meet the evolving needs of today's office users by offering highly amenitized, sustainable, and wellness-infused mixed-use environments, delivering a best-in-class hospitality-driven office experience to attract top talent and strong tenants.
Looking ahead, Piedmont Realty Trust aims to continue transforming the essence of the workplace by focusing on creating environments that promote collaboration, offer convenience, and cultivate a sense of connection. The company's strategic roadmap includes further development of Piedmont PLACEs, enhancing client experiences, and expanding its presence in dynamic growth markets. Piedmont's commitment to sustainability and innovation positions it to achieve future objectives and deliver value to shareholders.
For more information, visit Piedmont Realty Trust's official website.
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