Piedmont Realty Trust Q3 core FFO per share rises as rental rates grew, new leases started
PDM•Piedmont Realty Trust reported Q3 core FFO of $0.39 per share, up from $0.35, as rental rates grew and new leases commenced. It raised and narrowed FY26 core FFO guidance to $1.55-$1.57 per share.
1. Q3 results
Piedmont Realty Trust said core FFO per share rose to $0.39 from $0.35 as rental rates grew and new leases commenced. Same-store cash NOI increased 7.5%, with higher rents and the end of abatements on new leases outweighing expirations.
2. Updated outlook
The company raised and narrowed FY26 core FFO guidance to $1.55-$1.57 per share, from $1.47-$1.53. It expects FY26 same-store NOI to rise 7.5%-8.5% on a cash basis and 5%-6% on an accrual basis.
3. Debt and property sale
Net loss widened to $21.0 million from $13.5 million, reflecting a $20.2 million loss on early debt extinguishment, partly offset by an $8.9 million property-sale gain. Piedmont expects its $81.8 million sale of Enclave Place to close in Q4 and repay its credit li
