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Piedmont Office Realty Trust, Inc. PDM
Real Estate - REIT - Office - NYSE - US
Watchlist
$ 7.585
0.464 %
$ 944 M
Market Cap
-13.54
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Aug, 11, 2025.

The intrinsic value of one PDM stock under the worst case scenario is HIDDEN Compared to the current market price of 7.58 USD, Piedmont Office Realty Trust, Inc. is HIDDEN

PDM Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Aug, 11, 2025.

The intrinsic value of one PDM stock under the base case scenario is HIDDEN Compared to the current market price of 7.58 USD, Piedmont Office Realty Trust, Inc. is HIDDEN

PDM Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Aug, 11, 2025.

The intrinsic value of one PDM stock under the best case scenario is HIDDEN Compared to the current market price of 7.58 USD, Piedmont Office Realty Trust, Inc. is HIDDEN

PDM Intrinsic Value
HIDDEN
SHOW
2. FUNDAMENTAL ANALYSIS

Price Chart PDM

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1M 0%
6M -9%
1Y -7.0%
3Y -44%
5Y -57.0%
All
$8.0$8.0$7.5$7.5$7.0$7.0$6.5$6.5$6.0$6.0$5.5$5.5Mar '25Mar '2515 Mar15 MarApr '25Apr '2515 Apr15 AprMay '25May '2515 May15 MayJun '25Jun '2515 Jun15 JunJul '25Jul '2515 Jul15 JulAug '25Aug '25
FINANCIALS
570 M REVENUE
-1.29%
Growth Rates
1Year -1.29%
3Years 2.56%
5Years 1.36%
7Years -0.10%
10Years 0.07%
74.2 M OPERATING INCOME
-3.91%
Growth Rates
1Year -3.91%
3Years -6.60%
5Years -4.26%
7Years -1.29%
10Years -3.66%
-79.1 M NET INCOME
-63.40%
Growth Rates
1Year -63.40%
3Years -307.66%
5Years -6.11%
7Years -6.87%
10Years -10.94%
198 M OPERATING CASH FLOW
-5.72%
Growth Rates
1Year -5.72%
3Years -6.48%
5Years -1.02%
7Years -2.86%
10Years -0.86%
-187 M INVESTING CASH FLOW
4.80%
Growth Rates
1Year 4.80%
3Years 20.32%
5Years -19.02%
7Years -8.55%
10Years 3.52%
98.2 M FINANCING CASH FLOW
432.76%
Growth Rates
1Year 432.76%
3Years -8.07%
5Years 18.07%
7Years 11.95%
10Years 5.70%
0 REVENUE
0.00%
Growth Rates
1Year -1.29%
3Years 2.56%
5Years 1.36%
7Years -0.10%
10Years 0.07%
0 OPERATING INCOME
0.00%
Growth Rates
1Year -3.91%
3Years -6.60%
5Years -4.26%
7Years -1.29%
10Years -3.66%
-16.8 M NET INCOME
-66.43%
Growth Rates
1Year -63.40%
3Years -307.66%
5Years -6.11%
7Years -6.87%
10Years -10.94%
50.1 M OPERATING CASH FLOW
1249.03%
Growth Rates
1Year -5.72%
3Years -6.48%
5Years -1.02%
7Years -2.86%
10Years -0.86%
-31.3 M INVESTING CASH FLOW
21.36%
Growth Rates
1Year 4.80%
3Years 20.32%
5Years -19.02%
7Years -8.55%
10Years 3.52%
-17.6 M FINANCING CASH FLOW
75.21%
Growth Rates
1Year 432.76%
3Years -8.07%
5Years 18.07%
7Years 11.95%
10Years 5.70%
Balance Sheet Piedmont Office Realty Trust, Inc.
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Current Assets 313 M
Cash & Short-Term Investments 110 M
Receivables 199 M
Other Current Assets 4.24 M
Non-Current Assets 3.8 B
Long-Term Investments 0
PP&E 0
Other Non-Current Assets 3.8 B
4.84 %92.39 %Total Assets$4.1b
Current Liabilities 521 M
Accounts Payable 149 M
Short-Term Debt 253 M
Other Current Liabilities 119 M
Non-Current Liabilities 2.42 B
Long-Term Debt 1.97 B
Other Non-Current Liabilities 450 M
5.07 %8.61 %4.05 %66.95 %15.32 %Total Liabilities$2.9b
EFFICIENCY
Earnings Waterfall Piedmont Office Realty Trust, Inc.
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Revenue 570 M
Cost Of Revenue 234 M
Gross Profit 336 M
Operating Expenses 262 M
Operating Income 74.2 M
Other Expenses 153 M
Net Income -79.1 M
600m600m500m500m400m400m300m300m200m200m100m100m00(100m)(100m)570m(234m)336m(262m)74m(153m)(79m)RevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
58.95% GROSS MARGIN
58.95%
Averages
1Year 58.95%
3Years 59.27%
5Years 59.55%
7Years 59.76%
10Years 59.91%
13.02% OPERATING MARGIN
13.02%
Averages
1Year 13.02%
3Years 13.92%
5Years 15.22%
7Years 16.48%
10Years 15.60%
-13.86% NET MARGIN
-13.86%
Averages
1Year -13.86%
3Years 8.70%
5Years 9.40%
7Years 14.70%
10Years 17.52%
-4.98% ROE
-4.98%
Averages
1Year -4.98%
3Years 2.32%
5Years 2.54%
7Years 4.21%
10Years 4.90%
-1.92% ROA
-1.92%
Averages
1Year -1.92%
3Years 1.19%
5Years 1.33%
7Years 2.14%
10Years 2.47%
1.93% ROIC
1.93%
Averages
1Year 1.93%
3Years 2.57%
5Years 28.27%
7Years 20.96%
10Years 19.90%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Piedmont Office Realty Trust, Inc.
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180m180m160m160m140m140m120m120m100m100m80m80m60m60m40m40m20m20m00(20m)(20m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income -79.1 M
Depreciation & Amortization 221 M
Capital Expenditures -212 M
Stock-Based Compensation 9.55 M
Change in Working Capital 5.22 M
Others 63.7 M
Free Cash Flow -14 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Piedmont Office Realty Trust, Inc.
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Wall Street analysts predict an average 1-year price target for PDM of $13.8 , with forecasts ranging from a low of $12 to a high of $17 .
PDM Lowest Price Target Wall Street Target
12 USD 58.21%
PDM Average Price Target Wall Street Target
13.8 USD 81.28%
PDM Highest Price Target Wall Street Target
17 USD 124.13%
Price
Max Price Target
Min Price Target
Average Price Target
18181616141412121010886644Sep '24Sep '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26Jun '26Jun '26Jul '26Jul '26Aug '26Aug '26
4. DIVIDEND ANALYSIS
0.00% DIVIDEND YIELD
0.125 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
1.2001.2001.0001.0000.8000.8000.6000.6000.4000.4000.2000.2000.0000.0000.210.210.210.210.210.210.210.210.210.1250.1250.210.210.210.210.210.210.210.210.210.1250.210.210.210.210.210.210.210.210.1250.1250.210.840.210.840.210.840.51.130.210.840.210.840.210.840.210.840.210.750.1250.500.1250.252015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
slide 2 of 7
6. Ownership
Insider Ownership Piedmont Office Realty Trust, Inc.
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
228 K USD 3
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Piedmont Realty Trust: The Investment Thesis Is Playing Out Nicely With one of the lowest P/FFO multiples in the sector, this REIT trades as if it's in terminal decline — but the numbers tell a different story. Leasing momentum is setting the stage for cash flow growth from both ends: cash outflows are declining as CapEx normalizes, while rent collections are poised to accelerate. The dividend is gone for now, but with capital being deployed strategically and AFFO set to rebound, my price target is $14.50. seekingalpha.com - 1 week ago
Piedmont Realty Trust, Inc. (PDM) Q2 2025 Earnings Call Transcript Piedmont Realty Trust, Inc. (NYSE:PDM ) Q2 2025 Earnings Conference Call July 29, 2025 9:00 AM ET Company Participants Christopher A. Kollme - Executive Vice President of Investments & Strategy Christopher Brent Smith - President, CEO & Director George M. seekingalpha.com - 1 week ago
Piedmont Realty Trust (PDM) Q2 FFO Top Estimates Piedmont Realty Trust (PDM) came out with quarterly funds from operations (FFO) of $0.36 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to FFO of $0.37 per share a year ago. zacks.com - 2 weeks ago
Piedmont Realty Trust, Inc. Releases Second Quarter 2025 Results Atlanta, GA, July 28, 2025 (GLOBE NEWSWIRE) -- Piedmont Realty Trust (NYSE: PDM) has released its financial and operational results for the second quarter of 2025.  Please visit the Investor Relations section of Piedmont's website at https://investor.piedmontreit.com to access the Earnings Release and Supplemental Information. globenewswire.com - 2 weeks ago
Piedmont Realty Trust, Inc. to Report Second Quarter 2025 Financial Results Atlanta, July 07, 2025 (GLOBE NEWSWIRE) -- Piedmont Realty Trust (NYSE: PDM) announced today that the Company will release its second quarter financial results on Monday, July 28, 2025, after the close of trading on the New York Stock Exchange. A conference call is scheduled for Tuesday, July 29, 2025, at 9:00 a.m. ET and will be broadcast live in listen-only mode on the company's investor relations website. During the conference call, the Company's management team will review second quarter performance, discuss recent events, and conduct a question-and-answer period. globenewswire.com - 1 month ago
Piedmont Office Realty Trust Rebrands to Piedmont Realty Trust Atlanta, June 09, 2025 (GLOBE NEWSWIRE) -- --Piedmont Office Realty Trust (NYSE: PDM) (“Piedmont”), a real estate investment trust (REIT), announced today the launch of its new brand identity including a name change to Piedmont Realty Trust, Inc. The rebrand was undertaken to better reflect the company's focus on Piedmont PLACEs which are designed to elevate the workday and reflect a higher standard of service for our clients. globenewswire.com - 2 months ago
A Slow Slowdown US equity markets rallied to their highest levels since February after a critical slate of employment data showed lukewarm labor market conditions in May, with only minimal tariff-related impacts. Benchmark interest rates jumped to near-four-month highs as hotter-than-expected wage growth metrics fueled doubts on the prospects for meaningful Federal Reserve easing this year. Meanwhile, investors weighed questions about the fate of the "Big Beautiful Bill" amid fierce challenges from Elon Musk, alongside signs of thawing in the tariff stalemate with China. seekingalpha.com - 2 months ago
Piedmont Office Realty Trust: Improved 2025 Leasing Guidance Reinforces My Strong Buy Piedmont Office Realty Trust is deeply undervalued, with a forward P/FFO of 4.8x and a 21% FFO yield, presenting a compelling opportunity. The company is rapidly leasing vacant spaces, raising full-year guidance by 29%, and locking in positive cash rent increases, signaling strong asset desirability. Dividend elimination was a strategic move to fund growth at a rapid pace, setting up for potential dividend reinstatement in 2026 at an attractive yield + 11% yield. seekingalpha.com - 2 months ago
Piedmont REIT Signs over 500,000 SF of Leases Second Quarter-to-Date and Raises Full Year Leasing Guidance from 1.4 - 1.6 million SF to 1.8 - 2.0 million SF Atlanta, June 02, 2025 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont” or “the Company") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, announced today, that the Company is participating in this week's Nareit REITWeek Investor Conference in New York City. The Company has completed over 500,000 square feet of leasing thus far in the second quarter, with 350,000 square feet related to new tenants. globenewswire.com - 2 months ago
The State Of REITs: May 2025 Edition The REIT sector saw another month of red in April (-6.45%) and REITs now average a -9.10% return over the first 4 months of the year. Microcap (-8.87%) and small-cap REITs (-8.69%) endured bigger average losses than mid-caps (-5.45%) and large-caps (-2.93%). 84.62% of REIT securities had a negative total return in April. seekingalpha.com - 2 months ago
Piedmont Office Realty: They Did The Right Thing, But The Market Didn't Get It Mr. Market's irrational behavior creates opportunities to invest in undervalued, well-run office REITs like Piedmont Office Realty, which is currently undervalued by around 60%. Piedmont's dividend suspension is a rational move to preserve cash for growth and deleveraging, despite market overreaction causing a 12% share price drop. Leasing volumes are high, and Piedmont's A-tier assets are benefiting from a "flight to quality," setting up for future outperformance. seekingalpha.com - 3 months ago
Piedmont Office Realty Stock: Dividend Elimination Gives A Buying Opportunity Piedmont Office Realty Trust is an office REIT focused primarily on the Atlanta, Dallas, and Orlando markets. PDM's enterprise value is 75% funded with debt that, together with high lease incentives, prompted management to suspend the dividend. The company remains attractively valued on a core FFO multiple and market-implied cap rate basis. seekingalpha.com - 3 months ago
8. Profile Summary

Piedmont Office Realty Trust, Inc. PDM

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COUNTRY US
INDUSTRY REIT - Office
MARKET CAP $ 944 M
Dividend Yield 0.00%
Description 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.
Contact 5565 Glenridge Connector, Atlanta, GA, 30342 https://www.piedmontreit.com
IPO Date Feb. 10, 2010
Employees 150
Officers Mr. Alex Valente Executive Vice President of South East Region Mr. George M. Wells Executive Vice President & Chief Operating Officer Mr. Damian J. Miller CFA Executive Vice President of Central Region Ms. Sherry L. Rexroad CFA Executive Vice President & Chief Financial Officer Mr. Christopher A. Kollme Executive Vice President of Investments & Strategy Mr. Thomas A. McKean Senior Vice President, Associate General Counsel & Corporate Secretary Ms. Lisa M. Tyler Senior Vice President of Human Resource Mr. Christopher Brent Smith President, Chief Executive Officer & Director Ms. Laura P. Moon Chief Accounting Officer, Treasurer & Executive Vice President Mr. Kevin D. Fossum Executive Vice President of Property Management