Piedmont Q4 2022: Net income $75.6M, Core FFO $0.50; 2023 guidance Core FFO $1.80-$1.90

Piedmont Realty Trust, Inc.

2022-FY EPS reported $1.19 revenue$563,766,000

Q4 net income $75.6M ($0.61 diluted EPS) vs net loss $31.8M in Q4 2021; includes $101.1M gain on sale of Cambridge, MA assets.
Core FFO per diluted share $0.50 in Q4 vs $0.51 prior year; full year 2022 Core FFO $2.00 vs $1.97.
Executed 2.2M sf of leasing in 2022, leased percentage 86.7% at year-end (up from 85.5%).
Sold Cambridge properties for ~$160M; extended $200M term loan to June 2025; entered $215M term loan to repay $350M notes due June 2023.
2023 guidance: Core FFO $1.80-$1.90 per share; interest expense expected to increase ~$27M vs 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Piedmont Realty Trust, Inc. reported financial results for the quarter and year ended December 31, 2022.

Period: the quarter and year ended December 31, 2022
Result: reported results

Exact text from the filing

On February 8, 2023, Piedmont Office Realty Trust, Inc. (the "Registrant") issued a press release announcing its financial results for the fourth quarter 2022, as well as the year ended December 31, 2022, and published supplemental information for the fourth quarter 2022, as well as the year ended December 31, 2022, to its website.

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Piedmont Realty Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001042776-23-000021

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