Piedmont Office Realty Trust, Inc. (PDM) Stock

Piedmont Office Realty Trust, Inc. (PDM) is a Real Estate stock trading at $9.55 (as of 2026-08-21), with a market capitalization of $1.19B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Piedmont Office Realty Trust, Inc. (NYSE: PDM) owns, manages, develops, redevelops, and operates office properties primarily in select sub-markets across seven major Eastern U.S. office markets, with most revenue generated from the Sunbelt. It is a self-managed REIT with local management offices in its markets.

Understand Piedmont Office Realty Trust, Inc.: how it makes money

Piedmont Office Realty Trust owns, manages, and develops Class A office buildings in select Eastern U.S. sub-markets, generating money primarily from cash flows tied to leasing office space, with most revenue coming from the Sunbelt.

For an office REIT like Piedmont, the core profit engine is leasing, because cash rent expectations are directly shaped by executed leases for currently vacant space and by when executed leases are scheduled to commence.

Business quality (Weak): The company’s business model is straightforward (own, manage, redevelop Class A office properties), but the provided quarter-level disclosures here are limited to a small set of lease-related forward cash revenue items, without additional operating details like occupancy, rent roll, or tenant-credit information.

Bull case

  • Executed-lease visibility: The company reports future additional annual cash revenue from executed leases for vacant space, which helps anchor how leasing activity may translate into incremental cash revenue over time.
  • Geographic and operational footprint: Piedmont is self-managed with local management offices across its markets, and it operates a diversified portfolio across seven major Eastern U.S. office markets, with the majority of revenue generated from the Sunbelt.

Bear case

  • Office leasing timing matters: Future cash revenue depends on when executed leases commence, so delays or weaker leasing demand can slow or reduce incremental cash flow.
  • Limited data shown here: The provided information does not include occupancy, rent spreads, or tenant-credit details, which are important for assessing the durability of leasing-driven cash flows in office properties.
Valuation — source: SEC EDGAR (first-party)
Price$9.55
Market Cap$1.19B
Price / Book0.81
Price / Sales2.11
DCF Value (model)$14.77
DCF Upside vs Price54.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$564.99M
Net Margin-14.8%
Revenue Growth (YoY)0.4%
EPS Growth (YoY)25.0%
Valuation vs Sector & Industry
Sector P/E (Real Estate)27.2
Industry P/E (Real Estate)29.6
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($158.69M)
Institutional Holders Tracked10
Congressional Trades (recent)1
Company
SectorReal Estate
IndustryReal Estate
CEOChristopher Brent Smith
Employees150
CountryUS
IPO Date2010-02-10

Related Companies (Real Estate; 8 comparable real estate companies)

  • Millrose Properties, Inc. (MRP)
  • Kennedy-Wilson Holdings, Inc. (KW)
  • Ellington Financial Inc. (EFC)
  • Terreno Realty Corporation (TRNO)
  • Urban Edge Properties (UE)
  • Hudson Pacific Properties, Inc. (HPP)
  • AH Realty Trust, Inc. (AHRT)
  • Innovative Industrial Properties, Inc. (IIPR)
PDM earnings history · PDM institutional & insider holders · PDM KPIs & operating metrics · PDM financials · PDM investor presentations & press releases · PDM SEC filings · PDM peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.