secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001042776-23-000162
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000104277623000162/0001042776-23-000162-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000104277623000162/pdm-20231030.htm
  HTML page:      https://secwatch.observer/filing/0001042776-23-000162

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