secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2023-02-08T23:59:59+00:00
Accession:  0001042776-23-000021
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000104277623000021/0001042776-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000104277623000021/pdm-20230208.htm
  HTML page:      https://secwatch.observer/filing/0001042776-23-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer