Piedmont Realty Trust, Inc.

Piedmont Realty Trust, Inc. is a U.S. real estate investment trust that owns, manages, develops, redevelops, and operates Class A office properties. Its portfolio is concentrated in major Sunbelt metropolitan markets, and the business is conducted through Piedmont Operating Partnership and related subsidiaries and joint ventures.

−14,8 %

−0,9 %

— Piedmont Realty Trust, Inc.
%
Office property ownership and leasing80% Income-producing ownership and leasing of Class A office buildings and related space.
Property management and tenant services10% Leasing, asset management, and property management services for owned assets.
Redevelopment and development projects10% Out-of-service redevelopment and development projects that are brought back into service over time.

Piedmont’s tenants are primarily corporate occupiers and governmental agencies that lease office space in large Sunbelt...

  • Corporate office tenantsprimary

    Companies leasing Class A office space for headquarters, regional offices, and professional operations.

  • Governmental agenciessecondary

    Public-sector tenants leasing office space on long-term terms for administrative use.

  • Investment-grade and nationally recognized tenantsprimary

    Higher-credit tenants that support lease stability and portfolio quality.

  • Multi-industry occupierssecondary

    Tenants from diverse industries that lease space across Piedmont’s markets.

Piedmont’s portfolio is concentrated in major U.S. Sunbelt markets and identified growth submarkets within large...

  • •Primarily concentrated in major U.S. Sunbelt office markets
  • •Properties located in large metropolitan growth submarkets
  • •Atlanta is an important operating market
  • •Northern Virginia/Washington, D.C. is a meaningful office cluster
  • •Redevelopment assets also appear in Orlando and suburban Minneapolis

Piedmont’s strategy centers on owning and operating high-quality office assets in growth-oriented Sunbelt submarkets...

01
Concentrate the portfolio in Sunbelt growth marketsmedium-term

Sunbelt locations are central to the company’s tenant demand and portfolio identity.

02
Preserve and improve asset quality through redevelopmentmedium-term

Redevelopment supports leasing appeal and extends the usefulness of older assets.

03
Retain creditworthy tenants on long-term leasesshort-term

Tenant quality and lease duration support recurring rental cash flow.

04
Manage capital allocation through dispositions and financingshort-term

Selective asset sales and liquidity management help fund portfolio needs and debt management.

Piedmont is exposed to office-market demand risk, since tenant demand for commercial office space can weaken with...

high

Office demand disruption

Economic, regulatory, socio-economic, or technology changes can reduce office-space usage.

Scope
Class A office portfolio
Materiality
high
high

Tenant rollover and vacancy risk

Lease expirations or downsizing can reduce occupancy and rental income.

Scope
Long-term office leases
Materiality
high
high

Property valuation and impairment risk

Lower market rents, higher discount rates, or weaker demand can trigger impairments.

Scope
Goodwill and real estate assets
Materiality
high
medium

Interest rate and refinancing risk

Debt service and capital availability are sensitive to market rates and credit spreads.

Scope
Unsecured debt and line of credit
Materiality
high
medium

Cybersecurity and systems risk

A cyber incident could disrupt operations, damage relationships, or expose data.

Scope
Property operations and tenant information
Materiality
medium
Real estate asset valuation
Can materially change reported asset values and impairment charges
Goodwill impairment
Can create large non-cash charges if assumptions weaken
Straight-line rent recognition
Affects quarterly comparability and revenue timing
Redevelopment and disposition adjustments
Can distort period-to-period operating comparisons
Derivative and debt accounting
Impacts interest expense and cash flow presentation

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: 29/04/2026