Piedmont Office posts Q3 Core FFO $0.36, down from $0.43 YoY; YTD leasing hits 2M sf

Piedmont Realty Trust, Inc.

2024-Q3 EPS reported -$0.40 revenue$427,093,000

Core FFO per diluted share $0.36 vs $0.43 in Q3 2023; net loss improved to $11.5M from $17.0M.
YTD leasing totals ~2M sf, highest first nine months since 2015; portfolio leased 88.8% (up from 87.1% at YE 2023).
Sold 750 West John Carpenter Freeway in Dallas for $23M in Q3; liquidity $600M line + $133.6M cash.
Narrowed 2024 Core FFO guidance to $1.48-$1.50 per share from $1.46-$1.52.
Board declared Q4 dividend of $0.125/share, payable Jan 2, 2025 (unchanged).

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