secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0001042776-22-000153
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Piedmont Office Realty Q2 core FFO $0.50/shr; acquires 1180 Peachtree for $465M; portfolio 87% leased
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- Net income $8.0M ($0.06/shr) vs $9.9M ($0.08/shr) YoY; Core FFO $0.50/shr vs $0.48/shr.
- Same Store NOI up 1.8% (cash) and 2.8% (accrual); portfolio 87.0% leased vs 85.5% at year-end 2021.
- Executed 724K sq ft leasing in Q2, including 233K sq ft new tenant leases; weighted-average lease term ~6.5 years.
- Binding contract to buy 1180 Peachtree St, Atlanta for $465M net; expected close Q3 2022; initial NOI yield 6.3%.
- Entered $200M bridge loan; amended credit line to $600M, extended maturity to 2027; Q3 dividend $0.21/shr.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000104277622000153/0001042776-22-000153-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000104277622000153/pdm-20220727.htm
  HTML page:      https://secwatch.observer/filing/0001042776-22-000153

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