Piedmont Office: Core FFO Will Likely Trough In 2024 (Rating Upgrade) [Seeking Alpha]
Piedmont Office Realty Trust, Inc. Class A (PDM)
Last piedmont office realty trust, inc. class a earnings: 4/29 04:30 pm
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US:NYSE Investor Relations:
investor.piedmontreit.com/investor-relations
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Source: Seeking Alpha
Summary Piedmont Office Realty Trust is an office REIT focused on the Sunbelt region, with the largest markets being Atlanta, Dallas, and Orlando. The REIT has significantly outperformed the Vanguard Real Estate Index Fund ETF in 2024, delivering a ~41% total return. Q2 2024 results were robust, but elevated interest rates prompted a downgrade in the full-year Core FFO expectations. I expect Core FFO to return to growth in 2025. The company is attractively valued in terms of Core FFO multiple and market-implied cap rate. A debt-heavy capital structure will benefit from Fed rate cuts. Key risks to consider are whether the REIT manages to keep delivering robust net operating income and occupancy growth, as well as the pace of Fed rate cuts. Marilyn Nieves Introduction Piedmont Office Realty Trust ( NYSE: PDM ) has significantly outperformed the Vanguard Real Estate Index Fund ETF ( VNQ ) so far in 2024, delivering a ~41% total return against the circa 10% gain for the b
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News
- Are Investors Undervaluing Piedmont Office Realty Trust (PDM) Right Now? [Yahoo! Finance]Yahoo! Finance
- Is Piedmont Office Realty Trust (PDM) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- Piedmont Office Realty Trust, Inc. (NYSE: PDM) had its "buy" rating re-affirmed by analysts at Truist Financial Co.. They now have a $11.00 price target on the stock, up previously from $10.00.MarketBeat
- Piedmont Office (PDM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
- Piedmont Office Realty Trust Reports Second Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
PDM
Earnings
- 7/31/24 - Miss
PDM
Sec Filings
- 7/31/24 - Form 8-K
- 7/31/24 - Form 10-Q
- 7/2/24 - Form 4
- PDM's page on the SEC website