PDM - NYSE

Piedmont Office Realty Trust, Inc.

Piedmont Office Realty Trust, Inc.

PDMยทNYSE

$8.76

+4.0%
Real EstateREIT - Office

Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt. Its geographically-diversified, approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully-integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody's (Baa2). At the end of the third quarter, approximately 63% of the company's portfolio was ENERGY STAR certified and approximately 41% was LEED certified.

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$1.09B
EPS-0.6700
P/E Ratio-13.07
Earnings Date07/28/2026
Piedmont Office Realty Trust, Inc.

Piedmont Office Realty Trust, Inc. Fair Value Envelope

PDM ยท NYSE

Our analysis suggests that PDM has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $8.755, this represents a potential HIDDEN relative to our calculated worth for Piedmont Office Realty Trust, Inc..

HIDDEN
Intrinsic Value
Current Price: $8.755

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$409.6M
+ Cash & Equivalents$731.0K
Firm Value$410.3M
- Debt$2.3B
Equity Value-$1.9B
/ Shares Outstanding124,519,000B
DCF Value-$15
OVERVALUED BY 271%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$113.6M
$91.9M
$74.3M
$60.1M
$48.6M
$39.3M
$31.7M
$25.7M
$20.8M
$16.8M
Maintenance CapEx
-$25.4M
-$20.6M
-$16.6M
-$13.4M
-$10.9M
-$8.8M
-$7.1M
-$5.7M
-$4.6M
-$3.8M
Owner Earnings
$88.2M
$71.3M
$57.7M
$46.6M
$37.7M
$30.5M
$24.6M
$19.9M
$16.1M
$13.0M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$81.7M
$61.2M
$45.8M
$34.3M
$25.7M
$19.2M
$14.4M
$10.8M
$8.1M
$6.0M
Terminal Value represents 25.0% of Enterprise Value

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