Quarterly ResultApr 30, 2026, 04:36 PM
PDM Q1 Core FFO $0.36/share; Same Store NOI Cash +11.1%; Raises 2026 Outlook
AI Summary
Piedmont Realty Trust, Inc. reported a net loss of $(12.9) million, or $(0.10) per diluted share, for Q1 2026, compared to a net loss of $(10.1) million, or $(0.08) per diluted share, in Q1 2025. Despite the increased net loss, Core FFO per diluted share remained flat at $0.36. The company demonstrated strong operational performance with Same Store NOI cash growth of 11.1% and significant leasing activity, leading to an increased 2026 outlook for both FFO and Same Store NOI.
Key Highlights
- Q1 2026 Core FFO per diluted share was $0.36, consistent with Q1 2025.
- Q1 2026 Same Store NOI on a cash basis increased by 11.1% YoY.
- The company executed 431,000 square feet of leasing, including 293,000 square feet of new tenancy.
- Cash rental rates on leases executed during Q1 2026 increased by 11.1%.
- Piedmont increased its 2026 Core FFO per diluted share outlook to $1.49-$1.54.
- The 2026 Same Store NOI outlook was raised to an increase of 4% to 7%.
- Entered a binding contract to sell a 10.6-acre land parcel for $12.0 million.
- The company has $526 million capacity on its revolving credit line and no debt maturity until 2028.
Price Impact
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