Quarterly ResultApr 30, 2026, 04:33 PM
PDM Q1 Net Loss $(12.9M); Revenue $143.3M
AI Summary
Piedmont Realty Trust, Inc. reported a net loss of $(12.9) million for Q1 2026, an increase from $(10.1) million in Q1 2025. Revenue saw a slight increase to $143.3 million. Despite the increased loss, the company significantly improved its net cash provided by operating activities to $28.1 million. The company also noted the expiration of all interest rate swap agreements as of March 31, 2026, and a pending land sale for $12.0 million.
Key Highlights
- Net loss applicable to Piedmont increased to $(12.9) million in Q1 2026 from $(10.1) million in Q1 2025.
- Total revenues slightly increased to $143.3 million in Q1 2026 from $142.7 million in Q1 2025.
- Basic and diluted net loss per share was $(0.10) in Q1 2026, up from $(0.08) in Q1 2025.
- Net cash provided by operating activities surged to $28.1 million in Q1 2026 from $3.7 million in Q1 2025.
- Total debt (carrying value) increased to $2.25 billion as of March 31, 2026, from $2.22 billion at year-end 2025.
- Portfolio occupancy stood at 89.3% for 14.9 million square feet of Class A office space.
- All interest rate swap agreements expired as of March 31, 2026.
- Company has a binding contract to sell Royal Lane Land in Dallas for approximately $12.0 million.