Piedmont posts Q3 net loss of $17M; Core FFO down 14% to $0.43; leases 302k sf

Piedmont Realty Trust, Inc.

2023-Q3 EPS reported -$0.16 revenue$432,425,000

Net loss of $17M ($0.14 diluted loss) vs net income of $3.3M ($0.03 EPS) in Q3 2022.
Core FFO per diluted share fell to $0.43 from $0.50 YoY; $10.1M higher interest expense and $11M goodwill impairment.
Leased percentage improved to 86.7% (up 50 bps QoQ); 302k sf leased including 170k sf new tenant leases.
Post-quarter executed 600k+ sf leases: GE Vernova (77k sf) and US Bancorp renewal (447k sf).
Issued $400M 9.25% senior notes due 2028, refinanced 2024 maturities; weighted avg debt cost 5.46%.

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 0.9

Piedmont Realty Trust, Inc. reported third quarter 2023 results: net income Net income/(loss) applicable to Piedmont $(17,002), EPS $(0.14).

Period: third quarter 2023
Net income: Net income/(loss) applicable to Piedmont $(17,002)
EPS: $(0.14)
Result: reported results

Exact text from the filing

Net income/(loss) applicable to Piedmont $(17,002) $3,331 Net income/(loss) per share applicable to common stockholders - diluted $(0.14) $0.03

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Piedmont Realty Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001042776-23-000162

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