Piedmont Q1 net loss $27.8M on $18.4M impairment; Core FFO $0.39 vs $0.46 YoY

Piedmont Realty Trust, Inc.

2024-Q1 EPS reported -$0.22 revenue$144,538,000

Net loss of $27.8M ($0.22 diluted) vs loss of $1.4M ($0.01) in Q1 2023, including $18.4M impairment charges.
Core FFO of $0.39 per diluted share vs $0.46 prior year, impacted by $7.6M increase in interest expense.
Same Store NOI cash basis increased 5.1%; leasing activity of 500K SF, 328K SF new tenant.
Sold One Lincoln Park (Dallas) for $54M ($210/SF); repaid remaining $50M of 2024 Senior Notes.
Affirmed 2024 guidance: Core FFO $1.46-$1.56 per diluted share; year-end leased % 87-88%.

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 first quarter 2024 results: net income $27.8 million, EPS $0.22 per diluted share.

Period: first quarter 2024
Net income: $27.8 million
EPS: $0.22 per diluted share
Result: reported results

Exact text from the filing

Piedmont recognized a net loss of $27.8 million, or $0.22 per diluted share, for the first quarter of 2024

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Source: SEC EDGAR

accession 0001042776-24-000068

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