Piedmont Office Realty Trust, Inc. PDM
Piedmont Office Realty Trust, Inc. (PDM), traded on the NYSE, is a real estate investment trust that acquires, manages, develops, and operates premium, Class A office properties. These assets are strategically situated in key sub-markets across seven major Eastern U.S. office markets, with the Sunbelt region contributing the majority of its revenue. The company's geographically diversified portfolio encompasses approximately 17 million square feet, valued at roughly $5 billion. As a self-managed and fully integrated REIT, Piedmont maintains local management teams within each of its operational markets and holds investment-grade credit ratings from S&P Global Ratings (BBB) and Moody's (Baa2). Demonstrating its commitment to sustainability, by the close of the third quarter, approximately 63% of its portfolio was ENERGY STAR certified, and around 41% had achieved LEED certification.
Snapshot
Reported FFO / AFFO / leverage are from the None earnings release (filed 2026-05-28) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2025-02-21 | 2025-02-21 | 2025-03-14 | 2025-02-03 | $0.12 | Quarterly |
| 2024-11-22 | 2024-11-22 | 2025-01-02 | 2024-10-24 | $0.12 | Quarterly |
| 2024-08-23 | 2024-08-23 | 2024-09-20 | 2024-07-25 | $0.12 | Quarterly |
| 2024-05-23 | 2024-05-24 | 2024-06-14 | 2024-04-24 | $0.12 | Quarterly |
| 2024-02-22 | 2024-02-23 | 2024-03-15 | 2024-02-01 | $0.12 | Quarterly |
| 2023-11-22 | 2023-11-24 | 2024-01-02 | 2023-10-25 | $0.12 | Quarterly |
| 2023-08-24 | 2023-08-25 | 2023-09-15 | 2023-07-26 | $0.12 | Quarterly |
| 2023-05-25 | 2023-05-26 | 2023-06-16 | 2023-05-01 | $0.21 | Quarterly |
| 2023-02-23 | 2023-02-24 | 2023-03-17 | 2023-02-01 | $0.21 | Quarterly |
| 2022-11-23 | 2022-11-25 | 2023-01-03 | 2022-10-25 | $0.21 | Quarterly |
| 2022-08-25 | 2022-08-26 | 2022-09-16 | 2022-07-27 | $0.21 | Quarterly |
| 2022-05-26 | 2022-05-27 | 2022-06-17 | 2022-04-27 | $0.21 | Quarterly |
| 2022-02-24 | 2022-02-25 | 2022-03-18 | 2022-02-02 | $0.21 | Quarterly |
| 2021-11-24 | 2021-11-26 | 2022-01-04 | 2021-10-27 | $0.21 | Quarterly |
| 2021-08-26 | 2021-08-27 | 2021-09-17 | 2021-07-28 | $0.21 | Quarterly |
| 2021-05-27 | 2021-05-28 | 2021-06-18 | 2021-04-28 | $0.21 | Quarterly |
| 2021-02-25 | 2021-02-26 | 2021-03-19 | 2021-02-02 | $0.21 | Quarterly |
| 2020-11-25 | 2020-11-27 | 2021-01-04 | 2020-10-28 | $0.21 | Quarterly |
| 2020-08-27 | 2020-08-28 | 2020-09-18 | 2020-07-29 | $0.21 | Quarterly |
| 2020-05-28 | 2020-05-29 | 2020-06-19 | 2020-04-29 | $0.21 | Quarterly |
| 2020-02-27 | 2020-02-28 | 2020-03-20 | 2020-02-04 | $0.21 | Quarterly |
| 2019-11-27 | 2019-11-29 | 2020-01-03 | 2019-10-30 | $0.21 | Quarterly |
| 2019-08-29 | 2019-08-30 | 2019-09-20 | 2019-07-31 | $0.21 | Quarterly |
| 2019-05-30 | 2019-05-31 | 2019-06-21 | 2019-05-01 | $0.21 | Quarterly |
Coverage (payout of operating cash flow): 44.26%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $564.99M | $-83.60M | $227.09M | $271.49M | $140.56M |
| 2024 | $570.32M | $-79.07M | $177.89M | $221.81M | $198.11M |
| 2023 | $577.76M | $-48.39M | $236.21M | $289.10M | $210.13M |
| 2022 | $563.77M | $146.83M | $224.55M | $437.04M | $215.22M |
| 2021 | $528.71M | $-1.15M | $206.61M | $256.73M | $242.20M |
| 2020 | $535.02M | $232.69M | $203.87M | $292.63M | $193.28M |
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.