Piedmont Office Realty Trust, Inc. (PDM) 10-Year Financial Performance & Capital Metrics

PDM • • REIT / Real Estate

Real EstateOffice REITsSunbelt & Regional Office REITsRegional Business District Specialists

AboutPiedmont 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.Show more

Revenue $570M -1.3%
FFO $99M -47.4%
FFO/Share 0.80 -47.5%
FFO Payout 62.6% +26.3%
FFO per Share 0.80 -47.5%
NOI Margin 58.95% -0.6%
FFO Margin 17.33% -46.7%
ROE -4.78% -76.3%
ROA -1.94% -62.8%
Debt/Assets 60.88% +17.8%
Net Debt/EBITDA 9.50 +42.3%
Book Value/Share 12.81 -8.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 8.6% TTM
✓Sustainable FFO payout ratio of 62.6%
✓Healthy dividend yield of 5.7%
✓Trading near 52-week high
✓Trading at only 0.7x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.2%
✗Weak Piotroski F-Score: 3/9

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.07%

5Y1.36%

3Y2.56%

TTM-1.23%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM8.78%

EPS CAGR

10Y-

5Y-

3Y-

TTM8.15%

ROCE

10Y Avg2.79%

5Y Avg2.16%

3Y Avg2.01%

Latest1.95%

Peer Comparison

Regional Business District Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HIWHighwoods Properties, Inc.	2.99B	27.20	28.94	-0.98%	15.72%	5.19%	13.5%	1.35
PDMPiedmont Office Realty Trust, Inc.	1.09B	8.75	-13.67	-1.29%	-12.44%	-4.58%		1.58

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	584.77M	555.72M	574.17M	525.97M	533.18M	535.02M	528.71M	563.77M	577.76M	570.32M
Revenue Growth %	0.03%	-0.05%	0.03%	-0.08%	0.01%	0%	-0.01%	0.07%	0.02%	-0.01%
Property Operating Expenses	242M	218.93M	220.63M	209.34M	211.38M	214.93M	210.93M	226.06M	235.09M	234.12M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	225.76M	232.1M	225.78M	200.96M	34.72M	231.33M	236.86M	253.68M	265.4M	261.96M
G&A Expenses	30.37M	29.24M	31.13M	29.71M	34.72M	27.46M	30.25M	29.13M	29.19M	35.42M
EBITDA+	272.23M	524.82M	527.71M	525.97M	399.09M	292.63M	287.53M	308.58M	313.48M	252.13M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	195.39M	451.03M	446.42M	410.3M	112.01M	203.87M	206.61M	224.55M	236.21M	177.89M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	76.84M	73.79M	81.3M	115.67M	287.08M	88.76M	80.92M	84.03M	77.26M	74.24M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	74M	64.86M	68.12M	61.02M	61.59M	54.99M	51.29M	65.66M	101.26M	122.98M
Interest Coverage	1.04x	1.14x	1.19x	1.90x	4.66x	1.61x	1.58x	1.28x	0.76x	0.60x
Non-Operating Income	953K	2.62M	-127.96M	-75.65M	182.68M	0	30.79M	-128.46M	24.38M	0
Pretax Income+	4.68M	9.31M	17.68M	54.6M	229.42M	232.69M	-1.17M	146.83M	-48.38M	-79.06M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-92.19M	-33.37M	-43.26M	-42K	160K	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	172.99M	107.89M	133.56M	130.3M	229.26M	232.69M	-1.15M	146.83M	-48.39M	-79.07M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	2.99%	-0.38%	0.24%	-0.02%	0.76%	0.01%	-1%	128.35%	-1.33%	-0.63%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.54%	0.52%	0.04%	-0.07%	-0.37%	0.28%	-0.53%	0.81%	-0.49%	-0.47%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.15	0.74	0.92	1.00	1.32	1.85	-0.01	1.19	-0.39	-0.64
EPS Growth %	3.11%	-0.36%	0.24%	0.09%	0.32%	0.4%	-1.01%	-	-1.33%	-0.64%
EPS (Basic)	1.19	0.74	0.94	1.03	1.32	1.85	-0.01	1.19	-0.39	-0.64
Diluted Shares Outstanding	150.88M	145.63M	145.38M	130.64M	126.18M	126.1M	123.98M	123.52M	123.66M	123.94M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	4.43B	4.45B	4B	3.59B	3.52B	3.74B	3.93B	4.09B	4.06B	4.11B
Asset Growth %	-0.08%	0%	-0.1%	-0.1%	-0.02%	0.06%	0.05%	0.04%	-0.01%	0.01%
Real Estate & Other Assets+	3.93B	-3.43B	-3.15B	3.22B	405.44M	332.85M	348.94M	3.67B	-53.49M	3.75B
PP&E (Net)	3.53B	3.02B	2.75B	2.61B	2.73B	2.9B	3.09B	3.39B	0	0
Investment Securities	1000K	1000K	10K	-1000K	0	0	0	1000K	0	0
Total Current Assets+	234.48M	200.55M	231.19M	200.21M	209.58M	312.46M	301.38M	213.53M	0	313.19M
Cash & Equivalents	5.44M	6.99M	7.38M	4.57M	13.54M	7.33M	7.42M	16.54M	4.21M	109.64M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	64.89M	38.01M	55.47M	147.89M	128.33M	17.15M	-195.96M	4.25M
Intangible Assets	84.66M	99.69M	77.81M	77.68M	74.41M	90.59M	94.38M	114.38M	0	0
Total Liabilities	2.24B	2.27B	2.01B	1.88B	1.7B	1.84B	2.14B	2.24B	2.33B	2.53B
Total Debt+	2.03B	2.02B	1.73B	1.69B	1.49B	1.63B	1.88B	1.98B	2.1B	2.51B
Net Debt	2.02B	2.01B	1.72B	1.68B	1.47B	1.62B	1.88B	1.97B	2.09B	2.4B
Long-Term Debt	2.03B	1.88B	1.73B	1.48B	1.49B	1.6B	1.88B	1.63B	1.69B	2.22B
Short-Term Borrowings	0	1000K	0	0	0	1000K	0	1000K	1000K	1000K
Capital Lease Obligations	42.85M	48.01M	38.46M	35.71M	0	0	0	56.95M	42.92M	32.79M
Total Current Liabilities+	155.74M	193.82M	246.24M	158.27M	150.58M	165.62M	140.5M	195.64M	0	271.38M
Accounts Payable	128.47M	165.41M	114.85M	93.74M	115.9M	111.2M	114.45M	110.31M	0	149.05M
Deferred Revenue	27.27M	28.41M	29.58M	28.78M	0	0	0	59.98M	0	107.03M
Other Liabilities	-157.53M	12.8M	5.28M	208.24M	60.68M	72.33M	120.03M	116.93M	-1.82B	8K
Total Equity+	2.2B	2.18B	1.99B	1.71B	1.82B	1.9B	1.79B	1.85B	1.72B	1.59B
Equity Growth %	-0.05%	-0.01%	-0.09%	-0.14%	0.06%	0.04%	-0.06%	0.03%	-0.07%	-0.08%
Shareholders Equity	2.2B	2.18B	1.98B	1.71B	1.82B	1.9B	1.79B	1.85B	1.72B	1.59B
Minority Interest	1.02M	1.88M	1.82M	1.77M	1.73M	1.68M	1.63M	1.59M	1.56M	1.52M
Common Stock	1.46M	1.45M	1.42M	1.26M	1.26M	1.24M	1.23M	1.23M	1.24M	1.24M
Additional Paid-in Capital	3.67B	3.67B	3.68B	3.68B	3.69B	3.69B	3.7B	3.71B	3.72B	3.72B
Retained Earnings	-1.48B	-1.5B	-1.7B	-1.98B	0	0	0	-1.86B	-1.99B	-2.13B
Preferred Stock	339K	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.04%	0.02%	0.03%	0.03%	0.06%	0.06%	-0%	0.04%	-0.01%	-0.02%
Return on Equity (ROE)	0.08%	0.05%	0.06%	0.07%	0.13%	0.13%	-0%	0.08%	-0.03%	-0.05%
Debt / Assets	0.46%	0.45%	0.43%	0.47%	0.42%	0.44%	0.48%	0.49%	0.52%	0.61%
Debt / Equity	0.92x	0.93x	0.87x	0.98x	0.82x	0.86x	1.05x	1.07x	1.22x	1.58x
Net Debt / EBITDA	7.44x	3.84x	3.26x	3.20x	3.69x	5.55x	6.52x	6.37x	6.68x	9.50x
Book Value per Share	14.56	14.96	13.66	13.11	14.42	15.05	14.42	14.97	13.93	12.81

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	217.33M	235.81M	242.81M	202.87M	208.48M	193.28M	242.2M	215.22M	210.13M	198.11M
Operating CF Growth %	0.01%	0.09%	0.03%	-0.16%	0.03%	-0.07%	0.25%	-0.11%	-0.02%	-0.06%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	173M	107.87M	133.55M	130.29M	229.26M	232.69M	-1.17M	146.83M	-48.39M	-79.06M
Depreciation & Amortization	195.72M	202.11M	193.23M	166.29M	177.62M	195.11M	199.27M	215.39M	226.85M	227.74M
Stock-Based Compensation	7.08M	7.93M	9.2M	9.74M	15.45M	9.72M	10.98M	8.97M	8.09M	9.55M
Other Non-Cash Items	1.77M	1.7M	1.59M	-250K	87K	2.08M	3.27M	-124.99M	32.65M	34.66M
Working Capital Changes	-31.11M	-16.35M	-21.51M	-29.18M	-25.87M	-45.54M	-10.6M	-30.98M	-9.07M	5.22M
Cash from Investing+	305.04M	-119.87M	240.61M	323.78M	134.38M	-197.88M	-368.93M	-1.25M	-196.02M	-186.62M
Acquisitions (Net)	844.17M	0	12.33M	0	0	0	0	0	0	0
Purchase of Investments	0	0	-1.16M	-3.2M	0	0	0	0	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K	0	0
Other Investing	-420.46M	-9.65M	229.44M	395.88M	-351.84M	-445.39M	-246.31M	-295.78M	-37.83M	-186.62M
Cash from Financing+	-529.24M	-114.38M	-482.87M	-529.37M	-333.51M	-1.58M	126.38M	-203.23M	-29.5M	98.18M
Dividends Paid	-126.53M	-91.62M	-122.27M	-184.09M	-106.43M	-106.31M	-103.91M	-104.37M	-93.12M	-61.86M
Common Dividends	-126.53M	-91.62M	-122.27M	-184.09M	-106.43M	-106.31M	-103.91M	-104.37M	-93.12M	-61.86M
Debt Issuance (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	1000K	1000K
Share Repurchases	-158.86M	-7.94M	-60.47M	-298.54M	-16.9M	-29.99M	-19.54M	-3.94M	-1.76M	-1.76M
Other Financing	-2.04M	-2.69M	-3.72M	-3.34M	-4.16M	-4.07M	-4.15M	-1.33M	-2.32M	-2.56M
Net Change in Cash+	-6.87M	1.55M	551K	-2.72M	9.35M	-6.17M	-354K	10.74M	-15.39M	109.68M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	12.31M	5.44M	8.2M	8.76M	6.03M	15.39M	9.21M	8.86M	19.6M	4.21M
Cash at End	5.44M	6.99M	8.76M	6.03M	15.39M	9.21M	8.86M	19.6M	4.21M	113.88M
Free Cash Flow+	98.66M	125.58M	162.97M	130.76M	104.93M	80.7M	119.58M	93.86M	51.94M	-14M
FCF Growth %	1.1%	0.27%	0.3%	-0.2%	-0.2%	-0.23%	0.48%	-0.22%	-0.45%	-1.27%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	2.44	3.84	3.99	4.14	2.7	3.46	1.66	3.01	1.52	0.8
FFO Payout Ratio	34.35%	16.39%	21.08%	34.05%	31.19%	24.35%	50.57%	28.1%	49.58%	62.6%
NOI Margin	58.62%	60.6%	61.57%	60.2%	60.35%	59.83%	60.1%	59.9%	59.31%	58.95%
Net Debt / EBITDA	7.44x	3.84x	3.26x	3.20x	3.69x	5.55x	6.52x	6.37x	6.68x	9.50x
Debt / Assets	45.77%	45.41%	43.17%	46.92%	42.27%	43.63%	47.9%	48.55%	51.7%	60.88%
Interest Coverage	1.04x	1.14x	1.19x	1.90x	4.66x	1.61x	1.58x	1.28x	0.76x	0.60x
Book Value / Share	14.56	14.96	13.66	13.11	14.42	15.05	14.42	14.97	13.93	12.81
Revenue Growth	3.27%	-4.97%	3.32%	-8.4%	1.37%	0.35%	-1.18%	6.63%	2.48%	-1.29%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Real Estate, Other	20.11M	17.88M	12.2M	11.6M	16.35M	20.71M	24.52M
Real Estate, Other Growth	-	-11.10%	-31.73%	-4.99%	41.01%	26.69%	18.38%
Management Service	1.45M	3.4M	2.87M	2.5M	1.68M	1.73M	1.74M
Management Service Growth	-	134.34%	-15.63%	-12.94%	-32.89%	3.22%	0.52%

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
Atlanta, GA	-	-	95.4M	98.33M	131.23M	161.31M	172.13M
Atlanta, GA Growth	-	-	-	3.07%	33.46%	22.92%	6.71%
New York, NY	-	-	69.83M	52.45M	56.19M	54.04M	55.92M
New York, NY Growth	-	-	-	-24.88%	7.12%	-3.82%	3.47%

Frequently Asked Questions

Growth & Financials

Piedmont Office Realty Trust, Inc. (PDM) reported $565.4M in revenue for fiscal year 2024. This represents a 4% increase from $541.6M in 2011.

Piedmont Office Realty Trust, Inc. (PDM) saw revenue decline by 1.3% over the past year.

Piedmont Office Realty Trust, Inc. (PDM) reported a net loss of $70.3M for fiscal year 2024.

Dividend & Returns

Yes, Piedmont Office Realty Trust, Inc. (PDM) pays a dividend with a yield of 5.70%. This makes it attractive for income-focused investors.

Piedmont Office Realty Trust, Inc. (PDM) has a return on equity (ROE) of -4.8%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Piedmont Office Realty Trust, Inc. (PDM) generated Funds From Operations (FFO) of $156.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Piedmont Office Realty Trust, Inc. (PDM) offers a 5.70% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

US Stock Screener

...

Piedmont Office Realty Trust, Inc. (PDM) 10-Year Financial Performance & Capital Metrics

PDM • • REIT / Real Estate

Real EstateOffice REITsSunbelt & Regional Office REITsRegional Business District Specialists

Revenue $570M -1.3%
FFO $99M -47.4%
FFO/Share 0.80 -47.5%
FFO Payout 62.6% +26.3%
FFO per Share 0.80 -47.5%
NOI Margin 58.95% -0.6%
FFO Margin 17.33% -46.7%
ROE -4.78% -76.3%
ROA -1.94% -62.8%
Debt/Assets 60.88% +17.8%
Net Debt/EBITDA 9.50 +42.3%
Book Value/Share 12.81 -8.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 8.6% TTM
✓Sustainable FFO payout ratio of 62.6%
✓Healthy dividend yield of 5.7%
✓Trading near 52-week high
✓Trading at only 0.7x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.2%
✗Weak Piotroski F-Score: 3/9

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.07%

5Y1.36%

3Y2.56%

TTM-1.23%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM8.78%

EPS CAGR

10Y-

5Y-

3Y-

TTM8.15%

ROCE

10Y Avg2.79%

5Y Avg2.16%

3Y Avg2.01%

Latest1.95%

Peer Comparison

Regional Business District Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HIWHighwoods Properties, Inc.	2.99B	27.20	28.94	-0.98%	15.72%	5.19%	13.5%	1.35
PDMPiedmont Office Realty Trust, Inc.	1.09B	8.75	-13.67	-1.29%	-12.44%	-4.58%		1.58

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	584.77M	555.72M	574.17M	525.97M	533.18M	535.02M	528.71M	563.77M	577.76M	570.32M
Revenue Growth %	0.03%	-0.05%	0.03%	-0.08%	0.01%	0%	-0.01%	0.07%	0.02%	-0.01%
Property Operating Expenses	242M	218.93M	220.63M	209.34M	211.38M	214.93M	210.93M	226.06M	235.09M	234.12M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	225.76M	232.1M	225.78M	200.96M	34.72M	231.33M	236.86M	253.68M	265.4M	261.96M
G&A Expenses	30.37M	29.24M	31.13M	29.71M	34.72M	27.46M	30.25M	29.13M	29.19M	35.42M
EBITDA+	272.23M	524.82M	527.71M	525.97M	399.09M	292.63M	287.53M	308.58M	313.48M	252.13M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	195.39M	451.03M	446.42M	410.3M	112.01M	203.87M	206.61M	224.55M	236.21M	177.89M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	76.84M	73.79M	81.3M	115.67M	287.08M	88.76M	80.92M	84.03M	77.26M	74.24M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	74M	64.86M	68.12M	61.02M	61.59M	54.99M	51.29M	65.66M	101.26M	122.98M
Interest Coverage	1.04x	1.14x	1.19x	1.90x	4.66x	1.61x	1.58x	1.28x	0.76x	0.60x
Non-Operating Income	953K	2.62M	-127.96M	-75.65M	182.68M	0	30.79M	-128.46M	24.38M	0
Pretax Income+	4.68M	9.31M	17.68M	54.6M	229.42M	232.69M	-1.17M	146.83M	-48.38M	-79.06M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-92.19M	-33.37M	-43.26M	-42K	160K	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	172.99M	107.89M	133.56M	130.3M	229.26M	232.69M	-1.15M	146.83M	-48.39M	-79.07M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	2.99%	-0.38%	0.24%	-0.02%	0.76%	0.01%	-1%	128.35%	-1.33%	-0.63%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.54%	0.52%	0.04%	-0.07%	-0.37%	0.28%	-0.53%	0.81%	-0.49%	-0.47%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.15	0.74	0.92	1.00	1.32	1.85	-0.01	1.19	-0.39	-0.64
EPS Growth %	3.11%	-0.36%	0.24%	0.09%	0.32%	0.4%	-1.01%	-	-1.33%	-0.64%
EPS (Basic)	1.19	0.74	0.94	1.03	1.32	1.85	-0.01	1.19	-0.39	-0.64
Diluted Shares Outstanding	150.88M	145.63M	145.38M	130.64M	126.18M	126.1M	123.98M	123.52M	123.66M	123.94M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	4.43B	4.45B	4B	3.59B	3.52B	3.74B	3.93B	4.09B	4.06B	4.11B
Asset Growth %	-0.08%	0%	-0.1%	-0.1%	-0.02%	0.06%	0.05%	0.04%	-0.01%	0.01%
Real Estate & Other Assets+	3.93B	-3.43B	-3.15B	3.22B	405.44M	332.85M	348.94M	3.67B	-53.49M	3.75B
PP&E (Net)	3.53B	3.02B	2.75B	2.61B	2.73B	2.9B	3.09B	3.39B	0	0
Investment Securities	1000K	1000K	10K	-1000K	0	0	0	1000K	0	0
Total Current Assets+	234.48M	200.55M	231.19M	200.21M	209.58M	312.46M	301.38M	213.53M	0	313.19M
Cash & Equivalents	5.44M	6.99M	7.38M	4.57M	13.54M	7.33M	7.42M	16.54M	4.21M	109.64M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	64.89M	38.01M	55.47M	147.89M	128.33M	17.15M	-195.96M	4.25M
Intangible Assets	84.66M	99.69M	77.81M	77.68M	74.41M	90.59M	94.38M	114.38M	0	0
Total Liabilities	2.24B	2.27B	2.01B	1.88B	1.7B	1.84B	2.14B	2.24B	2.33B	2.53B
Total Debt+	2.03B	2.02B	1.73B	1.69B	1.49B	1.63B	1.88B	1.98B	2.1B	2.51B
Net Debt	2.02B	2.01B	1.72B	1.68B	1.47B	1.62B	1.88B	1.97B	2.09B	2.4B
Long-Term Debt	2.03B	1.88B	1.73B	1.48B	1.49B	1.6B	1.88B	1.63B	1.69B	2.22B
Short-Term Borrowings	0	1000K	0	0	0	1000K	0	1000K	1000K	1000K
Capital Lease Obligations	42.85M	48.01M	38.46M	35.71M	0	0	0	56.95M	42.92M	32.79M
Total Current Liabilities+	155.74M	193.82M	246.24M	158.27M	150.58M	165.62M	140.5M	195.64M	0	271.38M
Accounts Payable	128.47M	165.41M	114.85M	93.74M	115.9M	111.2M	114.45M	110.31M	0	149.05M
Deferred Revenue	27.27M	28.41M	29.58M	28.78M	0	0	0	59.98M	0	107.03M
Other Liabilities	-157.53M	12.8M	5.28M	208.24M	60.68M	72.33M	120.03M	116.93M	-1.82B	8K
Total Equity+	2.2B	2.18B	1.99B	1.71B	1.82B	1.9B	1.79B	1.85B	1.72B	1.59B
Equity Growth %	-0.05%	-0.01%	-0.09%	-0.14%	0.06%	0.04%	-0.06%	0.03%	-0.07%	-0.08%
Shareholders Equity	2.2B	2.18B	1.98B	1.71B	1.82B	1.9B	1.79B	1.85B	1.72B	1.59B
Minority Interest	1.02M	1.88M	1.82M	1.77M	1.73M	1.68M	1.63M	1.59M	1.56M	1.52M
Common Stock	1.46M	1.45M	1.42M	1.26M	1.26M	1.24M	1.23M	1.23M	1.24M	1.24M
Additional Paid-in Capital	3.67B	3.67B	3.68B	3.68B	3.69B	3.69B	3.7B	3.71B	3.72B	3.72B
Retained Earnings	-1.48B	-1.5B	-1.7B	-1.98B	0	0	0	-1.86B	-1.99B	-2.13B
Preferred Stock	339K	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.04%	0.02%	0.03%	0.03%	0.06%	0.06%	-0%	0.04%	-0.01%	-0.02%
Return on Equity (ROE)	0.08%	0.05%	0.06%	0.07%	0.13%	0.13%	-0%	0.08%	-0.03%	-0.05%
Debt / Assets	0.46%	0.45%	0.43%	0.47%	0.42%	0.44%	0.48%	0.49%	0.52%	0.61%
Debt / Equity	0.92x	0.93x	0.87x	0.98x	0.82x	0.86x	1.05x	1.07x	1.22x	1.58x
Net Debt / EBITDA	7.44x	3.84x	3.26x	3.20x	3.69x	5.55x	6.52x	6.37x	6.68x	9.50x
Book Value per Share	14.56	14.96	13.66	13.11	14.42	15.05	14.42	14.97	13.93	12.81

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	217.33M	235.81M	242.81M	202.87M	208.48M	193.28M	242.2M	215.22M	210.13M	198.11M
Operating CF Growth %	0.01%	0.09%	0.03%	-0.16%	0.03%	-0.07%	0.25%	-0.11%	-0.02%	-0.06%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	173M	107.87M	133.55M	130.29M	229.26M	232.69M	-1.17M	146.83M	-48.39M	-79.06M
Depreciation & Amortization	195.72M	202.11M	193.23M	166.29M	177.62M	195.11M	199.27M	215.39M	226.85M	227.74M
Stock-Based Compensation	7.08M	7.93M	9.2M	9.74M	15.45M	9.72M	10.98M	8.97M	8.09M	9.55M
Other Non-Cash Items	1.77M	1.7M	1.59M	-250K	87K	2.08M	3.27M	-124.99M	32.65M	34.66M
Working Capital Changes	-31.11M	-16.35M	-21.51M	-29.18M	-25.87M	-45.54M	-10.6M	-30.98M	-9.07M	5.22M
Cash from Investing+	305.04M	-119.87M	240.61M	323.78M	134.38M	-197.88M	-368.93M	-1.25M	-196.02M	-186.62M
Acquisitions (Net)	844.17M	0	12.33M	0	0	0	0	0	0	0
Purchase of Investments	0	0	-1.16M	-3.2M	0	0	0	0	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K	0	0
Other Investing	-420.46M	-9.65M	229.44M	395.88M	-351.84M	-445.39M	-246.31M	-295.78M	-37.83M	-186.62M
Cash from Financing+	-529.24M	-114.38M	-482.87M	-529.37M	-333.51M	-1.58M	126.38M	-203.23M	-29.5M	98.18M
Dividends Paid	-126.53M	-91.62M	-122.27M	-184.09M	-106.43M	-106.31M	-103.91M	-104.37M	-93.12M	-61.86M
Common Dividends	-126.53M	-91.62M	-122.27M	-184.09M	-106.43M	-106.31M	-103.91M	-104.37M	-93.12M	-61.86M
Debt Issuance (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	1000K	1000K
Share Repurchases	-158.86M	-7.94M	-60.47M	-298.54M	-16.9M	-29.99M	-19.54M	-3.94M	-1.76M	-1.76M
Other Financing	-2.04M	-2.69M	-3.72M	-3.34M	-4.16M	-4.07M	-4.15M	-1.33M	-2.32M	-2.56M
Net Change in Cash+	-6.87M	1.55M	551K	-2.72M	9.35M	-6.17M	-354K	10.74M	-15.39M	109.68M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	12.31M	5.44M	8.2M	8.76M	6.03M	15.39M	9.21M	8.86M	19.6M	4.21M
Cash at End	5.44M	6.99M	8.76M	6.03M	15.39M	9.21M	8.86M	19.6M	4.21M	113.88M
Free Cash Flow+	98.66M	125.58M	162.97M	130.76M	104.93M	80.7M	119.58M	93.86M	51.94M	-14M
FCF Growth %	1.1%	0.27%	0.3%	-0.2%	-0.2%	-0.23%	0.48%	-0.22%	-0.45%	-1.27%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	2.44	3.84	3.99	4.14	2.7	3.46	1.66	3.01	1.52	0.8
FFO Payout Ratio	34.35%	16.39%	21.08%	34.05%	31.19%	24.35%	50.57%	28.1%	49.58%	62.6%
NOI Margin	58.62%	60.6%	61.57%	60.2%	60.35%	59.83%	60.1%	59.9%	59.31%	58.95%
Net Debt / EBITDA	7.44x	3.84x	3.26x	3.20x	3.69x	5.55x	6.52x	6.37x	6.68x	9.50x
Debt / Assets	45.77%	45.41%	43.17%	46.92%	42.27%	43.63%	47.9%	48.55%	51.7%	60.88%
Interest Coverage	1.04x	1.14x	1.19x	1.90x	4.66x	1.61x	1.58x	1.28x	0.76x	0.60x
Book Value / Share	14.56	14.96	13.66	13.11	14.42	15.05	14.42	14.97	13.93	12.81
Revenue Growth	3.27%	-4.97%	3.32%	-8.4%	1.37%	0.35%	-1.18%	6.63%	2.48%	-1.29%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Real Estate, Other	20.11M	17.88M	12.2M	11.6M	16.35M	20.71M	24.52M
Real Estate, Other Growth	-	-11.10%	-31.73%	-4.99%	41.01%	26.69%	18.38%
Management Service	1.45M	3.4M	2.87M	2.5M	1.68M	1.73M	1.74M
Management Service Growth	-	134.34%	-15.63%	-12.94%	-32.89%	3.22%	0.52%

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
Atlanta, GA	-	-	95.4M	98.33M	131.23M	161.31M	172.13M
Atlanta, GA Growth	-	-	-	3.07%	33.46%	22.92%	6.71%
New York, NY	-	-	69.83M	52.45M	56.19M	54.04M	55.92M
New York, NY Growth	-	-	-	-24.88%	7.12%	-3.82%	3.47%

Frequently Asked Questions

Growth & Financials

Piedmont Office Realty Trust, Inc. (PDM) reported $565.4M in revenue for fiscal year 2024. This represents a 4% increase from $541.6M in 2011.

Piedmont Office Realty Trust, Inc. (PDM) saw revenue decline by 1.3% over the past year.

Piedmont Office Realty Trust, Inc. (PDM) reported a net loss of $70.3M for fiscal year 2024.

Dividend & Returns

Yes, Piedmont Office Realty Trust, Inc. (PDM) pays a dividend with a yield of 5.70%. This makes it attractive for income-focused investors.

Piedmont Office Realty Trust, Inc. (PDM) has a return on equity (ROE) of -4.8%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Piedmont Office Realty Trust, Inc. (PDM) generated Funds From Operations (FFO) of $156.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Piedmont Office Realty Trust, Inc. (PDM) offers a 5.70% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.