Piedmont Realty Trust, Inc. reported second-quarter 2026 results with revenue of $144.1M, a narrower net loss applicable to common stockholders of $(11.1)M and diluted loss per share of $(0.09), reflecting modest top-line growth and improved earnings versus the year-ago quarter.
Financial Highlights
- Revenue was $144.1M for Q2 2026, compared with $140.3M in Q2 2025; YoY change 2.6%.
- Net income was a loss applicable to common stockholders of $(11.1)M for Q2 2026, compared with a $(16.8)M loss in Q2 2025; loss narrowed year over year.
- Diluted EPS was $(0.09) for Q2 2026, compared with $(0.14) in Q2 2025; loss per share narrowed year over year.
Business Highlights
- Revenue growth was driven by higher rental and tenant reimbursement revenue, with a roughly $3.7M increase over the six-month period from rent roll-ups and new leases.
- Leasing momentum remained strong: executed leases totaling about 0.9M sq ft are signed but not yet commenced, and lease abatements are burning off, supporting net operating income gains.
- Same-store performance improved, with Same Store NOI (cash) up about 10% for the six months and accrual Same Store NOI up 2.3%, reflecting higher rents and reduced downtime/abatements.
- Capital deployment and tenant improvements continued, with approximately $71.8M spent in the six months to fund repositioning, upgrades and amenities to support leasing.
- Portfolio concentration remains in Sunbelt and major metros, with active redevelopments including two Minneapolis projects currently out-of-service and roughly 83% leased, positioned to enhance future cash flow.
Original SEC Filing:
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