Earnings Releases·Oct 26, 2026, 4:20 PM ET

Piedmont Realty Trust — Q3 2026 Earnings Summary

Reported a net loss of $21.0 million ($0.17/share) for Q3 2026, widening from $13.5 million ($0.11/share) in Q3 2025, while Core FFO rose to $50.1 million ($0.39/share) from $43.5 million ($0.35/share) year-over-year.
Raised full-year 2026 Core FFO guidance to $1.55–$1.57 per share (previously $1.47–$1.53) for the third consecutive quarter, though NAREIT FFO and Net loss guidance were revised lower.
Executed significant capital recycling, including the $52.0 million acquisition of 4075 Wilson Boulevard, a $12.0 million land sale, and a binding contract to sell Enclave Place for $81.8 million, while using $50 million of proceeds to repurchase 5.4 million shares.
Improved capital structure by redeeming all 9.25% Unsecured Senior Notes due 2028 and issuing $230 million in 2.875% exchangeable senior notes, lowering the weighted average cost of debt to 4.78% from 5.58%.
Demonstrated strong operational performance with Same Store NOI increasing 7.5% (cash basis) for the quarter and 9.2% for the nine months, alongside a robust leasing pipeline of over 700,000 square feet.