A Business at a Glance
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Piedmont Realty Trust, Inc.
PDM
$1.2B
Mkt Cap
$9.79
+2.30%
Piedmont Realty Trust, Inc. (PDM) has a 5-year average return on invested capital (ROIC) of 2.2%. This is below average and may indicate limited pricing power.
Piedmont Realty Trust, Inc. (PDM) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Yes, Piedmont Realty Trust, Inc. (PDM) pays a dividend with a trailing twelve-month yield of 0.01%.
Piedmont Realty Trust, Inc. (PDM) operates in the Opeators Of Nonresidential Buildings industry, within the Real Estate sector.
Piedmont Realty Trust, Inc. (PDM) reported annual revenue of $565 million in its most recent fiscal year, based on SEC EDGAR filings.
Piedmont Realty Trust, Inc. (PDM) has a net profit margin of -14.8%. The company is currently unprofitable.
Piedmont Realty Trust, Inc. (PDM) generated $141 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Piedmont Realty Trust, Inc. (“Piedmont," "we," "our," or "us") (NYSE: PDM) is a Maryland corporation that operates in a manner so as to qualify as a real estate investment trust (“REIT”) for federal income tax purposes and engages in the ownership, management, development, redevelopment, and operation of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. Piedmont was incorporated in 1997 and commenced operations in 1998. Piedmont conducts business through its wholly-owned subsidiary, Piedmont Operating Partnership, L.P. (“Piedmont OP”), a Delaware limited partnership. Piedmont OP owns properties directly, through wholly-owned subsidiaries, and through various joint ventures which it controls. References to Piedmont herein shall include Piedmont and all of its subsidiaries, including Piedmont OP and its subsidiaries and joint ventures.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 566M | 565M | 570M | 578M | 564M | 529M |
| Net Income | -86M | -84M | -79M | -48M | 147M | -1.2M |
| EPS | $-0.69 | $-0.67 | $-0.64 | $-0.39 | $1.19 | $-0.01 |
| Free Cash Flow | 0 | 141M | 198M | 210M | -56M | 16M |
| ROIC | 0.0% | 1.2% | 1.2% | 1.4% | 5.7% | 1.7% |
| Gross Margin | - | 27.7% | 29.1% | 28.1% | 30.7% | 32.7% |
| Debt/Equity | 1.52 | 1.49 | 1.40 | 1.19 | 1.07 | 1.05 |
| Dividends/Share | $0.00 | $0.25 | $0.50 | $0.67 | $0.84 | $0.84 |
| Operating Income | 0 | 44M | 44M | 53M | 212M | 50M |
| Operating Margin | 0.0% | 7.9% | 7.7% | 9.2% | 37.7% | 9.4% |
| ROE | -5.8% | -5.4% | -4.8% | -2.7% | 8.1% | -0.1% |
| Shares Outstanding | 125M | 125M | 124M | 124M | 123M | 115M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 566M | 585M | 556M | 574M | 526M | 533M | 535M | 529M | 564M | 578M | 570M | 565M | 566M |
| Gross Margin | 30.0% | 32.1% | 32.3% | 35.9% | 35.8% | 35.5% | 35.2% | 32.7% | 30.7% | 28.1% | 29.1% | 27.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 24M | 30M | 27M | 29M | 30M | 38M | 27M | 30M | 29M | 29M | 35M | 31M | 31M |
| EBIT | 108M | 74M | 71M | 81M | 116M | 291M | 288M | 50M | 212M | 53M | 44M | 44M | 0 |
| Op. Margin | 19.0% | 12.6% | 12.7% | 14.2% | 22.0% | 54.6% | 53.8% | 9.4% | 37.7% | 9.2% | 7.7% | 7.9% | 0.0% |
| Net Income | 42M | 131M | 100M | 134M | 130M | 229M | 233M | -1.2M | 147M | -48M | -79M | -84M | -86M |
| Net Margin | 7.4% | 22.5% | 17.9% | 23.3% | 24.8% | 43.0% | 43.5% | -0.2% | 26.0% | -8.4% | -13.9% | -14.8% | -15.3% |
| Non-Recurring | 0 | 43M | 34M | 46M | 0 | 9.0M | 0 | 41M | 16M | 29M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 2.4% | 1.7% | 1.7% | 2.1% | 3.3% | 8.7% | 10.5% | 1.7% | 5.7% | 1.4% | 1.2% | 1.2% | 0.0% |
| ROE | 1.8% | 5.9% | 4.7% | 6.5% | 7.1% | 13.0% | 12.5% | -0.1% | 8.1% | -2.7% | -4.8% | -5.4% | -5.8% |
| ROA | 0.9% | 2.9% | 2.3% | 3.2% | 3.4% | 6.4% | 6.4% | -0.0% | 3.7% | -1.2% | -1.9% | -2.1% | -2.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 217M | 224M | 232M | 243M | 203M | 208M | 193M | 242M | 215M | 210M | 198M | 141M | 165M |
| Free Cash Flow | -74M | -283M | -134M | -133M | -372M | -221M | -224M | 16M | -56M | 210M | 198M | 141M | 0 |
| Owner Earnings | 55M | 60M | 69M | 88M | 65M | 60M | 41M | 82M | 40M | 23M | 11M | -50M | -29M |
| CapEx | 291M | 507M | 366M | 376M | 575M | 430M | 417M | 226M | 271M | 0 | 0 | 0 | 0 |
| Maint. CapEx | 157M | 155M | 155M | 146M | 128M | 133M | 143M | 149M | 166M | 179M | 178M | 181M | 184M |
| Growth CapEx | 135M | 352M | 211M | 230M | 447M | 297M | 274M | 77M | 105M | N/A | N/A | N/A | 0 |
| D&A | 157M | 155M | 155M | 146M | 128M | 133M | 143M | 149M | 166M | 179M | 178M | 181M | 184M |
| CapEx/OCF | 54.4% | 174.7% | 150.8% | 154.7% | 74.9% | 156.5% | 215.8% | 93.3% | 125.9% | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 106M | 106M | 104M | 104M | 93M | 62M | 31M | 165K |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | 6.0% | 6.8% | 6.6% | 7.6% | 11.9% | 6.5% | 3.2% | 0.0% |
| Share Buybacks | 55M | 159M | 7.9M | 60M | 299M | 17M | 30M | 20M | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 3.3% | 9.5% | 0.4% | 3.3% | 19.8% | 0.9% | 2.0% | 1.2% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 5.3M | 8.8M | 7.9M | 9.2M | 9.7M | 15M | 9.7M | 11M | 9.0M | 8.1M | 9.6M | 9.7M | 9.7M |
| Debt Repayment | 1.3M | 1.1M | 264K | 132K | 1.0M | 151K | 1.4M | 536M | 897M | 1.3B | 755M | 1.0B | 1.0B |
| Balance Sheet | |||||||||||||
| Net Debt | 2.3B | 2.0B | 2.0B | 1.7B | 1.7B | 1.5B | 293M | 1.9B | 2.0B | 2.1B | 2.1B | 2.2B | 2.3B |
| Cash & Equiv. | 12M | 5.4M | 7.0M | 7.4M | 4.6M | 14M | 7.3M | 7.4M | 17M | 825K | 110M | 731K | 2.3M |
| Long-Term Debt | 2.3B | 2.0B | 2.0B | 1.7B | 1.7B | 1.5B | 300M | 1.9B | 2.0B | 2.1B | 2.2B | 2.2B | 2.3B |
| Debt/Equity | 0.98 | 0.96 | 0.96 | 0.87 | 0.99 | 0.82 | 0.16 | 1.05 | 1.07 | 1.19 | 1.40 | 1.49 | 1.52 |
| Interest Coverage | 1.4 | 1.0 | 1.1 | 1.2 | 1.9 | 4.7 | 5.2 | 1.0 | 3.2 | 0.5 | 0.4 | 0.3 | 0.3 |
| Equity | 2.3B | 2.1B | 2.1B | 2.0B | 1.7B | 1.8B | 1.9B | 1.8B | 1.8B | 1.7B | 1.6B | 1.5B | 1.5B |
| Total Assets | 4.8B | 4.4B | 4.4B | 4.0B | 3.6B | 3.5B | 3.7B | 3.9B | 4.1B | 4.1B | 4.1B | 4.0B | 4.0B |
| Total Liabilities | 2.5B | 2.2B | 2.3B | 2.0B | 1.9B | 1.7B | 1.8B | 2.1B | 2.2B | 2.3B | 2.5B | 2.5B | 2.6B |
| Intangibles | 70M | 85M | 100M | 78M | 78M | 74M | 91M | 94M | 114M | 83M | 60M | 44M | 41M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 131K |
| Working Capital | -128M | -123M | -164M | -113M | -92M | -116M | -110M | -113M | -107M | -128M | -145M | -170M | -155M |
| Current Assets | 5.7M | 5.2M | 1.2M | 1.4M | 1.5M | 1.8M | 1.9M | 1.4M | 3.1M | 3.4M | 4.2M | 3.1M | 3.1M |
| Current Liabilities | 134M | 128M | 165M | 115M | N/A | 117M | 112M | 114M | N/A | 132M | 149M | 173M | 158M |
| Per Share Data | |||||||||||||
| EPS | 0.27 | 0.87 | 0.69 | 0.92 | 1.00 | 1.82 | 1.85 | -0.01 | 1.19 | -0.39 | -0.64 | -0.67 | -0.69 |
| Owner EPS | 0.35 | 0.40 | 0.47 | 0.60 | 0.50 | 0.48 | 0.32 | 0.71 | 0.32 | 0.18 | 0.09 | -0.40 | -0.23 |
| Book Value | 14.80 | 14.06 | 14.50 | 13.67 | 13.13 | 14.43 | 15.08 | 15.49 | 14.97 | 13.87 | 12.84 | 11.98 | 11.85 |
| Cash Flow/Share | 1.39 | 1.48 | 1.60 | 1.67 | 1.56 | 1.66 | 1.54 | 2.10 | 1.74 | 1.69 | 1.60 | 1.13 | 0.78 |
| Dividends/Share | 0.81 | 0.84 | 0.84 | 1.34 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.67 | 0.50 | 0.25 | 0.00 |
| Shares Out. | 156.1M | 150.9M | 144.5M | 145.2M | 130.3M | 126.0M | 125.8M | 115.3M | 123.4M | 124.1M | 123.5M | 124.8M | 125.0M |
| Valuation | |||||||||||||
| P/E Ratio | 37.9 | 12.8 | 17.9 | 13.9 | 11.5 | 8.6 | 6.5 | N/A | 6.3 | N/A | N/A | N/A | -14.1 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 102.5 | N/A | 4.0 | 5.4 | 7.4 | N/A |
| EV/EBIT | 31.9 | 43.3 | 48.9 | 41.5 | 15.6 | 11.1 | 10.8 | N/A | 30.2 | N/A | N/A | N/A | N/A |
| Price/Book | 0.7 | 0.8 | 0.9 | 0.9 | 0.9 | 1.1 | 0.8 | 0.9 | 0.5 | 0.5 | 0.7 | 0.7 | 0.8 |
| Price/Sales | 2.7 | 2.7 | 3.1 | 3.3 | 3.1 | 3.4 | 2.9 | 3.0 | 2.4 | 1.4 | 1.7 | 1.7 | 2.2 |
| FCF Yield | -4.5% | -16.9% | -7.5% | -7.2% | -24.8% | -11.3% | -14.7% | 1.0% | -6.0% | 25.2% | 18.5% | 13.5% | N/A |
| Market Cap | 1.6B | 1.7B | 1.8B | 1.9B | 1.5B | 2.0B | 1.5B | 1.7B | 931M | 835M | 1.1B | 1.0B | 1.2B |
| Avg. Price | 9.93 | 10.46 | 11.99 | 12.96 | 12.44 | 14.19 | 12.36 | 13.73 | 11.14 | 6.31 | 7.72 | 7.79 | 9.79 |
| Year-End Price | 10.60 | 11.11 | 12.37 | 12.78 | 11.54 | 15.61 | 12.08 | 14.40 | 7.55 | 6.73 | 8.66 | 8.32 | 9.79 |
Piedmont Realty Trust, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 8.7x vs a median of 5.4x. The company's 5-year average ROIC is 2.2% with a gross margin of 29.7%. At current prices, the estimated annualized return to fair value is +58.0%.
Piedmont Realty Trust, Inc. (PDM) has a debt-to-equity ratio of 1.49. This indicates moderate leverage.
Piedmont Realty Trust, Inc. (PDM) reported earnings per share (EPS) of $-0.67 in its most recent fiscal year.
Piedmont Realty Trust, Inc. (PDM) has a return on equity (ROE) of -5.4%. A negative ROE may indicate losses or negative equity.
Piedmont Realty Trust, Inc. (PDM) has a 5-year average gross margin of 29.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for Piedmont Realty Trust, Inc. (PDM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Piedmont Realty Trust, Inc. (PDM) has a book value per share of $11.98, based on its most recent annual SEC filing.