PDM
Piedmont Office Realty Trust, Inc.
REIT - Office
Market Cap$1.06B
5Y Perf.-49.1%
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Stock Comparison
PDM vs WELL vs VTR vs HIW
Revenue, margins, valuation, and 5-year total return — side by side.
WELL
Welltower Inc.
REIT - Healthcare Facilities
Market Cap$149.25B
5Y Perf.+320.4%
VTR
Ventas, Inc.
REIT - Healthcare Facilities
Market Cap$41.15B
5Y Perf.+147.6%
HIW
Highwoods Properties, Inc.
REIT - Office
Market Cap$2.82B
5Y Perf.-33.2%
PDM vs WELL vs VTR vs HIW — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PDM | WELL | VTR | HIW |
|---|---|---|---|---|
| Industry | REIT - Office | REIT - Healthcare Facilities | REIT - Healthcare Facilities | REIT - Office |
| Market Cap | $1.06B | $149.25B | $41.15B | $2.82B |
| Revenue (TTM) | $422M | $11.63B | $6.13B | $820M |
| Net Income (TTM) | $-86M | $1.43B | $260M | $93M |
| Gross Margin | 19.1% | 39.1% | -4.3% | 67.4% |
| Operating Margin | 13.9% | 4.4% | 13.4% | 25.6% |
| Forward P/E | — | 78.4x | 118.0x | 39.6x |
| Total Debt | $2.27B | $21.38B | $13.22B | $3.64B |
| Cash & Equiv. | $731K | $5.03B | $741M | $27M |
PDM vs WELL vs VTR vs HIW — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PDM
WELL
VTR
HIW
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Piedmont Office Rea… (PDM) | 100 | 50.9 | -49.1% |
| Welltower Inc. (WELL) | 100 | 420.4 | +320.4% |
| Ventas, Inc. (VTR) | 100 | 247.6 | +147.6% |
| Highwoods Propertie… (HIW) | 100 | 66.8 | -33.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PDM vs WELL vs VTR vs HIW
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: WELL leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Highwoods Properties, Inc. is the stronger pick specifically for valuation and capital efficiency and dividend income and shareholder returns. VTR also leads in specific categories worth noting. As sector peers, any of these can serve as alternatives in the same allocation.
PDM
Piedmont Office Realty Trust, Inc.
The REIT Holding
PDM lags the leaders in this set but could rank higher in a more targeted comparison.
Best for: real estate exposure
WELL
Welltower Inc.
The Real Estate Income Play
WELL carries the broadest edge in this set and is the clearest fit for long-term compounding and sleep-well-at-night.
- 223.1% 10Y total return vs VTR's 65.0%
- Lower volatility, beta 0.13, Low D/E 49.5%, current ratio 5.34x
- 35.8% FFO/revenue growth vs HIW's -2.4%
- 12.3% margin vs PDM's -20.5%
Best for: long-term compounding and sleep-well-at-night
VTR
Ventas, Inc.
The Real Estate Income Play
VTR is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 1 yrs, beta 0.01, yield 2.1%
- Rev growth 18.5%, EPS growth 184.2%, 3Y rev CAGR 12.2%
- Beta 0.01 vs PDM's 1.08, lower leverage
Best for: income & stability and growth exposure
HIW
Highwoods Properties, Inc.
The Real Estate Income Play
HIW is the #2 pick in this set and the best alternative if defensive is your priority.
- Beta 0.76, yield 7.7%, current ratio 42.45x
- Lower P/E (39.6x vs 118.0x)
- 7.7% yield, vs WELL's 1.3%
Best for: defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 35.8% FFO/revenue growth vs HIW's -2.4% |
| Value | HIW | Lower P/E (39.6x vs 118.0x) |
| Quality / Margins | WELL | 12.3% margin vs PDM's -20.5% |
| Stability / Safety | VTR | Beta 0.01 vs PDM's 1.08, lower leverage |
| Dividends | HIW | 7.7% yield, vs WELL's 1.3% |
| Momentum (1Y) | WELL | +42.7% vs HIW's -5.2% |
| Efficiency (ROA) | WELL | 2.3% ROA vs PDM's -2.2%, ROIC 0.5% vs 1.5% |
PDM vs WELL vs VTR vs HIW — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
FY 2025
PDM vs WELL vs VTR vs HIW — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLPDMLAGGINGHIW
Who Leads Where
PDM leads in 1 of 6 categories
HIW leads 1 • WELL leads 1 • VTR leads 1 • 2 tied
Explore the data ↓HIWHighwoods Properties,…
1leads
VTRVentas, Inc.
1leads
WELLWelltower Inc.
1leads
PDMPiedmont Office Realt…
1leads
6 Total Categories
CATEGORYLEADERvs WELLvs VTRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
PDM4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
HIW4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
WELL6/6
Risk & VolatilityBeta, volatility, and downside exposure
VTR2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
Evenly matched — WELL and HIW each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WELL is the larger business by revenue, generating $11.6B annually — 27.5x PDM's $422M. WELL is the more profitable business, keeping 12.3% of every revenue dollar as net income compared to PDM's -20.5%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PDMPiedmont Office R… | WELLWelltower Inc. | VTRVentas, Inc. | HIWHighwoods Propert… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $422M | $11.6B | $6.1B | $820M |
| EBITDAEarnings before interest/tax | $229M | $2.8B | $2.3B | $511M |
| Net IncomeAfter-tax profit | -$86M | $1.4B | $260M | $93M |
| Free Cash FlowCash after capex | $47M | $2.5B | $1.4B | $318M |
| Gross MarginGross profit ÷ Revenue | +19.1% | +39.1% | -4.3% | +67.4% |
| Operating MarginEBIT ÷ Revenue | +13.9% | +4.4% | +13.4% | +25.6% |
| Net MarginNet income ÷ Revenue | -20.5% | +12.3% | +4.2% | +11.4% |
| FCF MarginFCF ÷ Revenue | +11.2% | +21.9% | +22.4% | +38.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -100.0% | +40.3% | +22.0% | +6.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -23.0% | +22.5% | 0.0% | -67.8% |
Evenly matched — WELL and HIW each lead in 3 of 6 comparable metrics.
Valuation Metrics
PDM leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 17.6x trailing earnings, HIW trades at a 89% valuation discount to VTR's 160.3x P/E. On an enterprise value basis, PDM's 10.9x EV/EBITDA is more attractive than WELL's 66.4x.
| Metric | PDMPiedmont Office R… | WELLWelltower Inc. | VTRVentas, Inc. | HIWHighwoods Propert… |
|---|---|---|---|---|
| Market CapShares × price | $1.1B | $149.2B | $41.1B | $2.8B |
| Enterprise ValueMkt cap + debt − cash | $3.3B | $165.6B | $53.6B | $6.4B |
| Trailing P/EPrice ÷ TTM EPS | -12.67x | 153.25x | 160.26x | 17.63x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 78.42x | 118.01x | 39.58x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 10.88x | 66.40x | 24.31x | 12.75x |
| Price / SalesMarket cap ÷ Revenue | 1.88x | 13.99x | 7.05x | 3.50x |
| Price / BookPrice ÷ Book value/share | 0.71x | 3.35x | 3.18x | 1.16x |
| Price / FCFMarket cap ÷ FCF | — | 52.41x | 31.25x | 16.93x |
PDM leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
HIW leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
HIW delivers a 3.8% return on equity — every $100 of shareholder capital generates $4 in annual profit, vs $-6 for PDM. WELL carries lower financial leverage with a 0.49x debt-to-equity ratio, signaling a more conservative balance sheet compared to PDM's 1.52x. On the Piotroski fundamental quality scale (0–9), WELL scores 7/9 vs PDM's 5/9, reflecting strong financial health.
| Metric | PDMPiedmont Office R… | WELLWelltower Inc. | VTRVentas, Inc. | HIWHighwoods Propert… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | -5.7% | +3.5% | +2.1% | +3.8% |
| ROA (TTM)Return on assets | -2.2% | +2.3% | +1.0% | +1.5% |
| ROICReturn on invested capital | +1.5% | +0.5% | +2.5% | +2.7% |
| ROCEReturn on capital employed | +2.0% | +0.6% | +3.2% | +3.5% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 | 6 | 6 |
| Debt / EquityFinancial leverage | 1.52x | 0.49x | 1.05x | 1.49x |
| Net DebtTotal debt minus cash | $2.3B | $16.3B | $12.5B | $3.6B |
| Cash & Equiv.Liquid assets | $731,000 | $5.0B | $741M | $27M |
| Total DebtShort + long-term debt | $2.3B | $21.4B | $13.2B | $3.6B |
| Interest CoverageEBIT ÷ Interest expense | 0.35x | 0.26x | 1.40x | 2.07x |
HIW leads this category, winning 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
WELL leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WELL five years ago would be worth $30,234 today (with dividends reinvested), compared to $6,084 for PDM. Over the past 12 months, WELL leads with a +42.7% total return vs HIW's -5.2%. The 3-year compound annual growth rate (CAGR) favors WELL at 42.5% vs HIW's 13.0% — a key indicator of consistent wealth creation.
| Metric | PDMPiedmont Office R… | WELLWelltower Inc. | VTRVentas, Inc. | HIWHighwoods Propert… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +2.4% | +14.3% | +12.6% | +0.7% |
| 1-Year ReturnPast 12 months | +26.5% | +42.7% | +33.9% | -5.2% |
| 3-Year ReturnCumulative with dividends | +47.5% | +189.5% | +94.2% | +44.3% |
| 5-Year ReturnCumulative with dividends | -39.2% | +202.3% | +74.8% | -20.1% |
| 10-Year ReturnCumulative with dividends | -23.4% | +223.1% | +65.0% | -6.8% |
| CAGR (3Y)Annualised 3-year return | +13.8% | +42.5% | +24.8% | +13.0% |
WELL leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
VTR leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
VTR is the less volatile stock with a 0.01 beta — it tends to amplify market swings less than PDM's 1.08 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. VTR currently trades 97.8% from its 52-week high vs HIW's 78.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PDMPiedmont Office R… | WELLWelltower Inc. | VTRVentas, Inc. | HIWHighwoods Propert… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.08x | 0.13x | 0.01x | 0.76x |
| 52-Week HighHighest price in past year | $9.19 | $219.59 | $88.50 | $32.76 |
| 52-Week LowLowest price in past year | $6.32 | $142.65 | $61.76 | $20.45 |
| % of 52W HighCurrent price vs 52-week peak | +92.4% | +97.0% | +97.8% | +78.0% |
| RSI (14)Momentum oscillator 0–100 | 67.0 | 60.2 | 56.2 | 69.6 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 2.6M | 3.4M | 1.3M |
VTR leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — WELL and HIW each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: PDM as "Hold", WELL as "Buy", VTR as "Buy", HIW as "Hold". Consensus price targets imply 17.8% upside for PDM (target: $10) vs 4.9% for VTR (target: $91). For income investors, HIW offers the higher dividend yield at 7.67% vs WELL's 1.30%.
| Metric | PDMPiedmont Office R… | WELLWelltower Inc. | VTRVentas, Inc. | HIWHighwoods Propert… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $10.00 | $226.50 | $90.80 | $27.00 |
| # AnalystsCovering analysts | 11 | 34 | 32 | 22 |
| Dividend YieldAnnual dividend ÷ price | +2.9% | +1.3% | +2.1% | +7.7% |
| Dividend StreakConsecutive years of raises | 0 | 2 | 1 | 0 |
| Dividend / ShareAnnual DPS | $0.25 | $2.76 | $1.86 | $1.96 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | 0.0% | +0.1% |
Evenly matched — WELL and HIW each lead in 1 of 2 comparable metrics.
Key Takeaway
PDM leads in 1 of 6 categories (Valuation Metrics). HIW leads in 1 (Profitability & Efficiency). 2 tied.
Best OverallPiedmont Office Realty Trus… (PDM)Leads 1 of 6 categories
Loading custom metrics...
PDM vs WELL vs VTR vs HIW: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is PDM or WELL or VTR or HIW a better buy right now?
For growth investors, Welltower Inc.
(WELL) is the stronger pick with 35. 8% revenue growth year-over-year, versus -2. 4% for Highwoods Properties, Inc. (HIW). Highwoods Properties, Inc. (HIW) offers the better valuation at 17. 6x trailing P/E (39. 6x forward), making it the more compelling value choice. Analysts rate Welltower Inc. (WELL) a "Buy" — based on 34 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PDM or WELL or VTR or HIW?
On trailing P/E, Highwoods Properties, Inc.
(HIW) is the cheapest at 17. 6x versus Ventas, Inc. at 160. 3x. On forward P/E, Highwoods Properties, Inc. is actually cheaper at 39. 6x.
03Which is the better long-term investment — PDM or WELL or VTR or HIW?
Over the past 5 years, Welltower Inc.
(WELL) delivered a total return of +202. 3%, compared to -39. 2% for Piedmont Office Realty Trust, Inc. (PDM). Over 10 years, the gap is even starker: WELL returned +223. 1% versus PDM's -23. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PDM or WELL or VTR or HIW?
By beta (market sensitivity over 5 years), Ventas, Inc.
(VTR) is the lower-risk stock at 0. 01β versus Piedmont Office Realty Trust, Inc. 's 1. 08β — meaning PDM is approximately 11313% more volatile than VTR relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 49% versus 152% for Piedmont Office Realty Trust, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — PDM or WELL or VTR or HIW?
By revenue growth (latest reported year), Welltower Inc.
(WELL) is pulling ahead at 35. 8% versus -2. 4% for Highwoods Properties, Inc. (HIW). On earnings-per-share growth, the picture is similar: Ventas, Inc. grew EPS 184. 2% year-over-year, compared to -11. 5% for Welltower Inc.. Over a 3-year CAGR, WELL leads at 22. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — PDM or WELL or VTR or HIW?
Highwoods Properties, Inc.
(HIW) is the more profitable company, earning 19. 8% net margin versus -14. 8% for Piedmont Office Realty Trust, Inc. — meaning it keeps 19. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HIW leads at 26. 0% versus 3. 3% for WELL. At the gross margin level — before operating expenses — HIW leads at 67. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is PDM or WELL or VTR or HIW more undervalued right now?
On forward earnings alone, Highwoods Properties, Inc.
(HIW) trades at 39. 6x forward P/E versus 118. 0x for Ventas, Inc. — 78. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PDM: 17. 8% to $10. 00.
08Which pays a better dividend — PDM or WELL or VTR or HIW?
All stocks in this comparison pay dividends.
Highwoods Properties, Inc. (HIW) offers the highest yield at 7. 7%, versus 1. 3% for Welltower Inc. (WELL).
09Is PDM or WELL or VTR or HIW better for a retirement portfolio?
For long-horizon retirement investors, Ventas, Inc.
(VTR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 01), 2. 1% yield). Both have compounded well over 10 years (VTR: +65. 0%, PDM: -23. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between PDM and WELL and VTR and HIW?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: PDM is a small-cap quality compounder stock; WELL is a mid-cap high-growth stock; VTR is a mid-cap high-growth stock; HIW is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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