Piedmont Realty Trust, Inc. (PDM) Form 8-K — Oct 26, 2026
Piedmont Realty Trust reported Q3 2026 results with Core FFO of $0.39 per diluted share, up from $0.35 a year ago, on total revenues of $151.2 million (+8.7% YoY). The quarter featured record leasing spreads of 26.2% cash and 34.6% accrual and Same Store NOI growth of 7.5% on a cash basis. GAAP net loss widened to $21.0 million ($0.17 per share) due to a $20.2 million loss on early extinguishment of its 9.25% senior notes. The company refinanced with $230 million of 2.875% exchangeable notes, cutting its weighted average cost of debt to 4.78% from 5.58%, and repurchased ~5.4 million shares at $9.20 average using ~$50 million of proceeds.
Key figures
- Revenue
- 151236000
- Guidance
- 2026 Core FFO per diluted share raised to $1.55-$1.57 (from initial $1.47-$1.53); NAREIT FFO $1.39-$1.41; interest expense ~$125-126 million; G&A $31-33 million; Same Store NOI +7.5-8.5% cash / +5-6% accrual
- Total Debt
- 2340841000
- Revenue Yoy
- 8.7%
- Total Assets
- 4091613000
- Cash Position
- 3903000
- Shares Outstanding
- 123814000
- Gain on sale
- 8878000
- Buyback shares
- 5400000
- Buyback avg price
- 9.2
- Core ffo per share
- 0.39
- Cash leasing spread
- 26.2%
- Nareit ffo per share
- 0.23
- In service leased pct
- 87.7%
- Accrual leasing spread
- 34.6%
- Line of credit capacity
- 448000000
- Exchangeable notes issued
- 230000000
- Weighted avg cost of debt
- 4.78%
- Same store noi cash growth
- 7.5%
- Loss on debt extinguishment
- 20236000
- Core ffo per share prior year
- 0.35
- Same store noi accrual growth
- 6.9%
AI analysis
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