secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001042776-24-000068
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000104277624000068/0001042776-24-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000104277624000068/pdm-20240430.htm
  HTML page:      https://secwatch.observer/filing/0001042776-24-000068

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