Piedmont Realty Trust Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Piedmont Realty Trust Inc reported revenue of $565.0M (-0.9% year on year) and net income of ($83.6M) (-5.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental and tenant reimbursement revenue | $538.0M | $544.1M | $555.3M | $545.7M |
| Property management fee revenue and other property related income | $27.0M | $26.3M | $22.4M | $18.0M |
| Total revenues | $565.0M | $570.3M | $577.8M | $563.8M |
| Property operating costs | $227.9M | $234.1M | $235.1M | $226.1M |
| Depreciation | $166.5M | $156.8M | $148.5M | $133.6M |
| Amortization | $60.6M | $69.7M | $87.8M | $90.9M |
| Impairment charges | $0 | $33.8M | $29.4M | $26.0M |
| General and administrative | $30.6M | $35.4M | $29.2M | $29.1M |
| Total expenses | $485.5M | $529.9M | $529.9M | $505.7M |
| Interest expense | ($128.0M) | ($123.0M) | ($101.3M) | ($65.7M) |
| Other income | $734.0K | $4.3M | $3.9M | $2.7M |
| Loss on early extinguishment of debt | ($37.8M) | ($386.0K) | ($820.0K) | $0 |
| Gain/(loss) on sale of real estate assets | $2.0M | ($445.0K) | $1.9M | $151.7M |
| Total other income (expense) | ($163.0M) | ($119.5M) | ($96.2M) | $88.8M |
| Net loss | ($83.6M) | ($79.1M) | ($48.4M) | $146.8M |
| Net income applicable to noncontrolling interest | ($19.0K) | ($5.0K) | ($10.0K) | $0 |
| Net loss applicable to Piedmont | ($83.6M) | ($79.1M) | ($48.4M) | $146.8M |
| Net loss applicable to common stockholders - basic (in dollars per share) | -$0.67 | -$0.64 | -$0.39 | $1.19 |
| Net loss applicable to common stockholders - diluted (in dollars per share) | -$0.67 | -$0.64 | -$0.39 | $1.19 |
| Weighted-average shares outstanding - basic (in shares) | 124.4M | 123.9M | 123.7M | 123.4M |
| Weighted-average shares outstanding - diluted (in shares) | 124.4M | 123.9M | 123.7M | 123.5M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Rental and tenant reimbursement revenue | $137.3M | $136.4M | $133.0M | $134.0M |
| Property management fee revenue and other property related income | $6.9M | $6.9M | $6.1M | $6.3M |
| Total revenues | $144.1M | $143.3M | $139.2M | $140.3M |
| Property operating costs | $56.0M | $57.3M | $55.9M | $55.6M |
| Depreciation | $44.8M | $44.0M | $42.1M | $40.6M |
| Amortization | $14.5M | $15.3M | $15.2M | $14.8M |
| General and administrative | $8.2M | $7.9M | $7.6M | $8.0M |
| Total expenses | $123.5M | $124.5M | $120.8M | $119.0M |
| Interest expense | ($31.9M) | ($31.9M) | ($32.0M) | ($32.0M) |
| Other income | $189.0K | $225.0K | $160.0K | $133.0K |
| Loss on early extinguishment of debt | $0 | $0 | $0 | ($7.5M) |
| Gain on sale of real estate assets | $0 | $0 | $0 | $1.2M |
| Total other income (expense) | ($31.7M) | ($31.7M) | ($31.8M) | ($38.1M) |
| Net loss | ($11.1M) | ($12.9M) | ($13.5M) | ($16.8M) |
| Net income applicable to noncontrolling interest | ($4.0K) | ($5.0K) | ($5.0K) | ($2.0K) |
| Net loss applicable to Piedmont | ($11.1M) | ($12.9M) | ($13.5M) | ($16.8M) |
| Net loss applicable to common stockholders - basic (in dollars per share) | -$0.09 | -$0.10 | -$0.11 | -$0.14 |
| Net loss applicable to common stockholders - diluted (in dollars per share) | -$0.09 | -$0.10 | -$0.11 | -$0.14 |
| Weighted-average common shares outstanding – basic (in shares) | 125.1M | 124.8M | 124.5M | 124.5M |
| Weighted-average common shares outstanding – diluted (in shares) | 125.1M | 124.8M | 124.5M | 124.5M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $545.1M | $552.7M | $567.2M | $567.2M |
| Buildings and improvements, less accumulated depreciation of $1,278,600 and $1,150,892 as of December 31, 2025 and December 31, 2024, respectively | $2.8B | $2.7B | $2.8B | $2.8B |
| Intangible lease assets, less accumulated amortization of $73,824 and $75,982 as of December 31, 2025 and December 31, 2024, respectively | $44.4M | $60.5M | $82.6M | $114.4M |
| Construction in progress | $44.6M | $104.1M | $86.0M | $52.0M |
| Total real estate assets | $3.4B | $3.5B | $3.5B | $3.5B |
| Cash and cash equivalents | $731.0K | $109.6M | $825.0K | $16.5M |
| Tenant receivables | $6.2M | $5.5M | $7.9M | — |
| Straight-line rent receivables | $214.3M | $193.8M | $183.8M | $172.0M |
| Restricted cash and escrows | $3.1M | $4.2M | $3.4M | $3.1M |
| Prepaid expenses and other assets | $20.9M | $25.8M | $28.5M | $17.2M |
| Goodwill | $53.5M | $53.5M | $53.5M | $82.9M |
| Interest rate swaps | $0 | $671.0K | $3.0M | $4.2M |
| Deferred lease costs, less accumulated amortization of $209,155 and $204,150 as of December 31, 2025 and December 31, 2024, respectively | $311.1M | $260.3M | $263.6M | $284.2M |
| Total assets | $4.0B | $4.1B | $4.1B | $4.1B |
| Unsecured debt, net of discount and unamortized debt issuance costs of $23,368 and $20,077 as of December 31, 2025 and December 31, 2024, respectively | $2.0B | $2.0B | $1.9B | $1.8B |
| Secured debt | $188.8M | $192.4M | $195.9M | $197.0M |
| Accounts payable, accrued expenses, and accrued capital expenditures | $172.9M | $149.0M | $131.5M | $110.3M |
| Dividends payable | $0 | $15.3M | $15.1M | $25.4M |
| Deferred income | $112.1M | $107.0M | $89.9M | $60.0M |
| Intangible lease liabilities, less accumulated amortization of $35,036 and $33,641 as of December 31, 2025 and December 31, 2024, respectively | $24.8M | — | — | — |
| Interest rate swaps | $111.0K | $8.0K | — | $0 |
| Total liabilities | $2.5B | $2.5B | $2.3B | $2.2B |
| Commitments and Contingencies (Note 7) | $0 | $0 | $0 | $0 |
| Shares-in-trust, 150,000,000 shares authorized, none outstanding as of December 31, 2025 or December 31, 2024 | 0 | 0 | 0 | 0 |
| Preferred stock, no par value, 100,000,000 shares authorized, none outstanding as of December 31, 2025 or December 31, 2024 | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value; 750,000,000 shares authorized, 124,519,278 shares issued and outstanding as of December 31, 2025; and 124,083,038 shares issued and outstanding at December 31, 2024 | 1.2M | 1.2M | 1.2M | 1.2M |
| Additional paid-in capital | $3.7B | $3.7B | $3.7B | $3.7B |
| Cumulative distributions in excess of earnings | ($2.2B) | ($2.1B) | ($2.0B) | ($1.9B) |
| Accumulated other comprehensive loss | ($9.0M) | ($10.1M) | ($9.4M) | ($8.7M) |
| Piedmont stockholders’ equity | $1.5B | $1.6B | $1.7B | $1.8B |
| Noncontrolling interest | $1.5M | $1.5M | $1.6M | $1.6M |
| Total stockholders’ equity | $1.5B | $1.6B | $1.7B | $1.8B |
| Total liabilities and stockholders’ equity | $4.0B | $4.1B | $4.1B | $4.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Land | $542.5M | $542.5M | $545.1M | $545.1M |
| Buildings and improvements, less accumulated depreciation of $1,345,832 and $1,278,600 as of June 30, 2026 and December 31, 2025, respectively | $2.8B | $2.8B | $2.8B | $2.7B |
| Intangible lease assets, less accumulated amortization of $65,398 and $73,824 as of June 30, 2026 and December 31, 2025, respectively | $37.2M | $40.6M | $48.2M | $52.3M |
| Construction in progress | $47.1M | $48.9M | $57.3M | $108.2M |
| Real estate assets held for sale, net | $2.8M | $2.8M | — | — |
| Total real estate assets | $3.4B | $3.4B | $3.4B | $3.4B |
| Cash and cash equivalents | $16.8M | $2.3M | $3.0M | $3.3M |
| Tenant receivables | $11.4M | $6.9M | $5.7M | $4.4M |
| Straight-line rent receivables | $219.6M | $216.4M | $211.6M | $207.0M |
| Restricted cash and escrows | $5.0M | $4.1M | $5.1M | $4.5M |
| Prepaid expenses and other assets | $24.1M | $20.9M | $27.6M | $29.8M |
| Goodwill | $53.5M | $53.5M | $53.5M | $53.5M |
| Interest rate swaps | $530.0K | — | $0 | $72.0K |
| Deferred lease costs, less accumulated amortization of $219,933 and $209,155 as of June 30, 2026 and December 31, 2025, respectively | $308.3M | $308.2M | $265.9M | $260.4M |
| Total assets | $4.0B | $4.0B | $4.0B | $4.0B |
| Unsecured debt, net of unamortized discount and debt issuance costs of $23,287 and $23,368 as of June 30, 2026 and December 31, 2025, respectively | $2.1B | $2.1B | $2.0B | $2.0B |
| Secured debt | $187.0M | $187.9M | $189.7M | $190.6M |
| Accounts payable, accrued expenses and accrued capital expenditures | $185.3M | $158.0M | $135.2M | $131.1M |
| Deferred income | $115.5M | $117.7M | $111.2M | $94.5M |
| Intangible lease liabilities, less accumulated amortization of $29,934 and $35,036 as of June 30, 2026 and December 31, 2025, respectively | $21.2M | $22.9M | — | — |
| Interest rate swaps | $0 | $0 | $175.0K | $116.0K |
| Total liabilities | $2.6B | $2.6B | $2.5B | $2.4B |
| Commitments and Contingencies (Note 7) | $0 | $0 | $0 | $0 |
| Shares-in-trust, 150,000,000 shares authorized; none outstanding as of June 30, 2026 or December 31, 2025 | 0 | 0 | 0 | 0 |
| Preferred stock, no par value, 100,000,000 shares authorized; none outstanding as of June 30, 2026 or December 31, 2025 | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value, 750,000,000 shares authorized; 125,132,825 and 124,519,278 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 1.3M | 1.3M | 1.2M | 1.2M |
| Additional paid-in capital | $3.7B | $3.7B | $3.7B | $3.7B |
| Cumulative distributions in excess of earnings | ($2.3B) | ($2.2B) | ($2.2B) | ($2.2B) |
| Accumulated other comprehensive loss | ($7.4M) | ($8.4M) | ($9.5M) | ($9.9M) |
| Piedmont stockholders’ equity | $1.5B | $1.5B | $1.5B | $1.5B |
| Noncontrolling interest | $1.5M | $1.5M | $1.5M | $1.5M |
| Total stockholders’ equity | $1.5B | $1.5B | $1.5B | $1.5B |
| Total liabilities and stockholders’ equity | $4.0B | $4.0B | $4.0B | $4.0B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss | ($83.6M) | ($79.1M) | ($48.4M) | $146.8M |
| Depreciation | $166.5M | $156.8M | $148.5M | $133.6M |
| Amortization of debt issuance costs inclusive of settled interest rate swaps | $8.1M | $6.8M | $5.9M | $3.8M |
| Other amortization | $57.6M | $64.1M | $78.4M | $81.8M |
| Impairment charges | $0 | $33.8M | $29.4M | $26.0M |
| Loss on early extinguishment of debt | $37.8M | $386.0K | $287.0K | $0 |
| Reduction of general reserve for uncollectible accounts | $0 | $0 | ($1.0M) | ($3.0M) |
| Stock compensation expense | $9.7M | $9.6M | $8.1M | $9.0M |
| Gain on sale of real estate assets | ($2.0M) | $445.0K | ($1.9M) | ($151.7M) |
| Increase in tenant and straight-line rent receivables | ($23.6M) | ($11.8M) | ($14.1M) | ($14.2M) |
| Decrease/(increase) in prepaid expenses and other assets | $3.4M | $1.0M | ($10.7M) | $4.8M |
| Increase/(decrease) in accounts payable and accrued expenses | ($18.2M) | $14.4M | $19.3M | ($1.6M) |
| Increase/(decrease) in deferred income | ($15.1M) | $1.6M | ($3.5M) | ($20.0M) |
| Net cash provided by operating activities | $140.6M | $198.1M | $210.1M | $215.2M |
| Capitalized expenditures | ($157.2M) | ($212.1M) | ($158.2M) | ($121.4M) |
| Sales proceeds from wholly-owned properties | $31.4M | $74.9M | $1.9M | $297.4M |
| Deferred lease costs paid | ($49.5M) | ($49.4M) | ($39.8M) | ($24.9M) |
| Net cash used in investing activities | ($175.3M) | ($186.6M) | ($196.0M) | ($1.2M) |
| Debt issuance and other costs paid | ($1.7M) | ($2.4M) | ($2.3M) | ($374.0K) |
| Proceeds from debt | $998.0M | $919.0M | $1.4B | $803.4M |
| Repayments of debt | ($1.0B) | ($754.6M) | ($1.3B) | ($897.0M) |
| Premiums paid and costs to repurchase senior notes | ($35.6M) | — | — | — |
| Costs of issuance of common stock | ($604.0K) | ($185.0K) | $0 | ($460.0K) |
| Value of shares withheld for payment of taxes related to employee stock compensation | -2.3M | -1.8M | -1.8M | -3.9M |
| Dividends paid | ($30.9M) | ($61.9M) | ($93.1M) | ($104.4M) |
| Net cash (used in)/provided by financing activities | ($75.3M) | $98.2M | ($29.5M) | ($203.2M) |
| Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows | ($110.1M) | $109.7M | ($15.4M) | $10.7M |
| Cash, cash equivalents, and restricted cash and escrows, beginning of year | $113.9M | $4.2M | $19.6M | $8.9M |
| Cash, cash equivalents, and restricted cash and escrows, end of year | $3.8M | $113.9M | $4.2M | $19.6M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($24.0M) | ($12.9M) | ($40.4M) | ($26.9M) |
| Depreciation | $88.9M | $44.0M | $123.7M | $81.5M |
| Amortization of debt issuance costs inclusive of settled interest rate swaps | $4.2M | $2.1M | $6.0M | $4.0M |
| Other amortization | $30.9M | $15.6M | $42.7M | $28.3M |
| Loss on early extinguishment of debt | $0 | $0 | $8.0M | $8.0M |
| Stock compensation expense | $4.7M | $2.2M | $7.2M | $4.7M |
| Gain on sale of real estate assets | $0 | $0 | ($2.0M) | ($2.0M) |
| Increase in tenant and straight-line rent receivables | ($13.6M) | ($4.4M) | ($20.4M) | ($14.5M) |
| Increase in prepaid expenses and other assets | ($3.8M) | ($494.0K) | ($3.1M) | ($4.8M) |
| Increase/(decrease) in accounts payable and accrued expenses | $12.8M | ($18.0M) | ($17.9M) | ($12.1M) |
| Decrease in deferred income | ($7.6M) | ($91.0K) | ($14.2M) | ($12.3M) |
| Net cash provided by operating activities | $92.5M | $28.1M | $89.6M | $53.8M |
| Capitalized expenditures | ($71.8M) | ($38.3M) | ($115.8M) | ($81.6M) |
| Sales proceeds from wholly-owned properties | $0 | $0 | $31.4M | $31.4M |
| Deferred lease costs paid | ($22.1M) | ($10.1M) | ($35.7M) | ($20.8M) |
| Net cash used in investing activities | ($94.0M) | ($48.3M) | ($120.2M) | ($71.0M) |
| Debt issuance and other costs paid | ($182.0K) | ($98.0K) | ($376.0K) | ($291.0K) |
| Proceeds from debt | $184.0M | $87.0M | $553.1M | $482.1M |
| Repayments of debt | ($160.9M) | ($60.9M) | ($587.2M) | ($530.3M) |
| Premiums paid to repurchase senior notes | $0 | — | ($7.1M) | ($7.1M) |
| Costs of issuance of common stock | ($342.0K) | ($106.0K) | ($441.0K) | ($168.0K) |
| Value of shares withheld for payment of taxes related to employee stock compensation | -3.0M | -3.0M | -2.3M | -2.2M |
| Dividends paid | ($137.0K) | ($131.0K) | ($30.9M) | ($30.9M) |
| Net cash provided by/(used in) financing activities | $19.5M | $22.8M | ($75.2M) | ($88.8M) |
| Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows | $18.0M | $2.5M | ($105.7M) | ($106.1M) |
| Cash, cash equivalents, and restricted cash and escrows, beginning of period | $3.8M | $3.8M | $113.9M | $113.9M |
| Cash, cash equivalents, and restricted cash and escrows, end of period | $21.7M | $6.3M | $8.1M | $7.8M |
Piedmont Realty Trust Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.