Piedmont Realty Trust Q3 core FFO per share rises as rental rates grew, new leases started

Piedmont Realty Trust

26/10/2026 20:30

Overview
US office REIT reported Q3 core FFO per share of $0.39

Outlook
Piedmont raises and narrows FY26 Core FFO guidance to $1.55-$1.57 per share from $1.47-$1.53
Company expects FY26 same-store NOI to rise 7.5% to 8.5% cash basis and 5% to 6% accrual basis
Piedmont anticipates its $81.8 mln Enclave Place sale will close in Q4 and repay its credit li

Result Drivers
RENTAL GROWTH AND LEASE COMMENCEMENTS – Core FFO per share rose to $0.39 from $0.35 as rental rates grew and new leases commenced
HIGHER RENTS AND ABATEMENT BURN-OFF – Same-store cash NOI rose 7.5% as higher rental rates and new-lease abatements ending outweighed expirations
DEBT REFINANCING CHARGE – Net loss widened to $21.0 mln from $13.5 mln, reflecting a $20.2 mln loss on early debt extinguishment, partly offset by an $8.9 mln property-sale gain

Company press release: ID:nGNE6nzcMq

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Core FFO Per Share
 
$0.39
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "hold"
Wall Street's median 12-month price target for Piedmont Realty Trust, Inc. is $11.00, about 13.6% above its October 23 closing price of $9.68

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)