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
Company Research
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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High impacting Piedmont Office Realty Trust, Inc. Class A news events
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News
- Piedmont Office Realty Trust, Inc. (NYSE: PDM) had its price target raised by analysts at Robert W. Baird from $10.00 to $11.00. They now have an "outperform" rating on the stock.MarketBeat
- Piedmont Office Realty Trust, Inc. (PDM) Q3 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Piedmont Office (PDM) Q3 FFO and Revenues Miss Estimates [Yahoo! Finance]Yahoo! Finance
- Piedmont Office (PDM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
- Piedmont Office Realty Trust Reports Third Quarter 2024 ResultsGlobeNewswire
PDM
Earnings
- 10/24/24 - Miss
PDM
Sec Filings
- 11/8/24 - Form 3
- 10/29/24 - Form 4
- 10/24/24 - Form 8-K
- PDM's page on the SEC website