Piedmont Realty Trust Inc. Class A Common Stock (PDM)

FairStock Score: 45/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business and the price. Piedmont owns about 16 million square feet of Class A office space in Sunbelt markets—a decent portfolio, but office real estate is not a wide-moat business today. The filed figures show revenue of $565.0 million in FY2025, down from $570.3 million in FY2024 and $577.8 million in FY2023. Net income was -$83.6 million in FY2025, -$79.1 million in FY2024, and -$48.4 million in FY2023. Losses are widening, not shrinking. The latest quarter, fiscal Q2 2026 ended 2026-06-30, had revenue of $144.1 million and net income of -$11.1 million, a -7.70% margin; fiscal Q1 2026 had revenue of $143.3 million and net income of -$12.9 million. So operations are stabilizing at a loss, not earning profits. Financial health is the weak spot. The FairStock-calculated debt-to-equity is 1.53, and its Altman Z-Score is -0.47, which signals distress risk. Piotroski F-Score is 7/9, but that is backward-looking. Free cash flow was $31.7 million trailing twelve months, only a 2.8% FCF yield on the $1.1 billion market cap. The FairStock-calculated dividend yield is 6.27%, but with negative earnings, coverage is questionable. Valuation is the one bright spot. At the 2026-10-13 close of $9.10, the FairStock P/B is 0.77 and P/E is -14.22 because of losses. The stock trades below accounting book value, but the right REIT measures—FFO/AFFO—are not in the data, so I lean on dividend yield, leverage, revenue trend, and price-to-book. EV/EBITDA is 12.01, not obviously cheap. This is a leveraged turnaround, not a safe bargain.

In plain English: Piedmont Realty Trust owns and runs Class A office buildings in major Sun Belt markets. The business looks weak: it has been losing money, revenue is roughly flat, and debt is high, though the shares look inexpensive compared with the company's accounting value. The high dividend payment could be attractive, but it may not be safe if losses continue.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer