Piedmont Office reports Q4 2021 net loss of $31.8M on $41M impairment; Core FFO $0.51/share

Piedmont Realty Trust, Inc.

2021-FY EPS reported -$0.01 revenue$528,710,000

Net loss applicable to Piedmont of $31.8M ($0.26 diluted EPS) for Q4 2021; includes $41M impairment on Chicago asset.
Core FFO per share of $0.51 in Q4 2021, up 11% YoY; full-year 2021 Core FFO $1.97/share.
Same Store NOI increased 5.8% (cash) and 5.2% (accrual) in Q4; portfolio 86% leased as of Dec 31, 2021.
Acquired 999 Peachtree Street in Atlanta for $223.9M; sold two non-core assets in Jan 2022 for combined $153M.
Introduced 2022 Core FFO guidance of $1.97-$2.07 per diluted share; Q1 dividend unchanged at $0.21/share.

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