Piedmont posts Q4 net loss of $28M; Core FFO $0.41 vs $0.50 YoY; guides 2024 Core FFO $1.46-$1.56

Piedmont Realty Trust, Inc.

2023-FY EPS reported -$0.39 revenue$577,756,000

Net loss $28M in Q4 (vs $75.6M income in Q4 2022); diluted EPS -$0.23.
Core FFO $0.41 per diluted share in Q4, down from $0.50; full-year Core FFO $1.74 vs $2.00.
Leasing 816k sq ft in Q4; annual leasing 2.2M sq ft; new tenant leasing 831k (largest since 2018).
Issued $200M of 9.25% notes due 2028; new $200M term loan refinanced near-term maturities.
2024 guidance: Core FFO $1.46-$1.56; Same Store NOI flat to +2%; annual leasing ~1.5-2M sq ft.

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 the fourth quarter 2023, as well as the year ended December 31, 2023 results: net income $(28,030), EPS $(0.23).

Period: the fourth quarter 2023, as well as the year ended December 31, 2023
Net income: $(28,030)
EPS: $(0.23)
Result: reported results

Exact text from the filing

Piedmont recognized a net loss of $28.0 million, or $0.23 per diluted share, for the fourth quarter of 2023

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Source: SEC EDGAR

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