Piedmont Office (PDM) AI Stock Analysis

• Market Cap: $1.03B
• Dividend Yield: 5.7%
• Average Volume (3M): 801.90K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.79
• Revenue Growth: -1.23%
• EPS Growth: 9.10%
• Country: US
• Employees: 150
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): -0.11
• Shares Outstanding: 124,519,280
• 10 Day Avg. Volume: 717,928
• 30 Day Avg. Volume: 801,900
• PEG Ratio: -0.22
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 1.99
• P/FCF Ratio: -81.03
• Enterprise Value/Market Cap: 3.22
• Enterprise Value/Revenue: 5.90
• Enterprise Value/Gross Profit: 11.83
• Enterprise Value/Ebitda: 11.51
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: $8.00 ▼(-6.21% Downside)

Piedmont Office's overall stock score is driven by strong leasing performance and positive sentiment from the earnings call, which partially offsets the financial challenges and bearish technical indicators. The high dividend yield provides additional support, but profitability and leverage issues remain significant risks.

Positive Factors

Record Leasing Activity

Record leasing activity indicates strong demand for Piedmont's office spaces, suggesting resilience in their business model and potential for sustained revenue growth.

Increased Rental Rates

Increased rental rates demonstrate pricing power and ability to capitalize on market demand, enhancing long-term profitability.

High GRESB Rating

A high GRESB rating reflects strong sustainability practices, appealing to environmentally conscious tenants and investors, supporting long-term business viability.

Negative Factors

Declining Revenue

Declining revenue indicates challenges in maintaining market share and competitiveness, potentially impacting long-term financial health.

Profitability Issues

Profitability issues suggest operational inefficiencies and may limit the company's ability to reinvest in growth opportunities.

Lease Renewal Delays

Delays in lease renewals can affect occupancy rates and revenue stability, posing risks to tenant retention and long-term growth.

Piedmont Office Business Overview & Revenue Model

Company Description

Piedmont Office (PDM) is a leading provider of office products and services, specializing in delivering high-quality office supplies, furniture, and technology solutions to businesses of all sizes. The company operates primarily in the B2B sector, catering to corporate clients, educational institutions, and government agencies. PDM is committed to providing innovative solutions that enhance workplace productivity and efficiency, with a diverse product portfolio that includes everything from basic stationery to advanced office equipment.

How the Company Makes Money

Piedmont Office generates revenue through multiple key streams, including direct sales of office supplies, furniture, and technology products. The company also offers subscription-based services for office supply replenishment, which provides a steady income stream. Additionally, PDM engages in partnerships with manufacturers and distributors to secure bulk purchasing discounts, allowing them to maximize margins on products sold. Significant contracts with large corporate clients and government entities contribute to substantial revenue, as these clients often require ongoing supply and service agreements. Furthermore, PDM benefits from value-added services such as workspace design and consulting, which not only enhance client relationships but also create additional revenue opportunities.

Piedmont Office Financial Statement Overview

Summary

Piedmont Office faces significant financial challenges with declining revenues and profitability issues. The income statement shows a negative revenue growth rate and net profit margin, while the balance sheet indicates low leverage but negative returns on equity. Cash flow metrics reveal struggles in generating free cash flow, posing risks to financial stability.

Income Statement

Piedmont Office's income statement shows declining revenue with a negative revenue growth rate of -52.2% in the TTM period. The company has struggled with profitability, evidenced by a negative net profit margin of -12.1% and a declining gross profit margin. The EBIT and EBITDA margins have also decreased, indicating operational challenges.

Balance Sheet

The balance sheet reflects a relatively low debt-to-equity ratio of 0.12 in the TTM period, indicating low leverage compared to previous years. However, the return on equity is negative, suggesting inefficiencies in generating returns from equity. The equity ratio remains stable, showing a solid equity base.

Cash Flow

Cash flow analysis reveals a significant decline in free cash flow growth, with a rate of -125.7% in the TTM period. The operating cash flow to net income ratio is positive, but the free cash flow to net income ratio is low, indicating challenges in converting income into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	565.37M	570.32M	577.76M	563.77M	528.71M	535.02M
Gross Profit	281.92M	336.20M	342.67M	337.71M	317.78M	320.09M
EBITDA	289.59M	252.13M	289.10M	437.04M	256.73M	292.63M
Net Income	-70.35M	-79.07M	-48.39M	146.83M	-1.15M	232.69M
Balance Sheet
Total Assets	4.00B	4.11B	4.06B	4.09B	3.93B	3.74B
Cash, Cash Equivalents and Short-Term Investments	2.99M	109.64M	4.21M	16.54M	7.42M	7.33M
Total Debt	2.22B	2.51B	2.10B	1.98B	1.88B	1.63B
Total Liabilities	2.47B	2.53B	2.33B	2.24B	2.14B	1.84B
Stockholders Equity	1.54B	1.59B	1.72B	1.85B	1.79B	1.90B
Cash Flow
Free Cash Flow	-33.27M	-14.00M	51.94M	93.86M	119.58M	80.70M
Operating Cash Flow	154.67M	198.11M	210.13M	215.22M	242.20M	193.28M
Investing Cash Flow	-206.24M	-186.62M	-196.02M	-1.25M	-368.93M	-197.88M
Financing Cash Flow	-77.26M	98.18M	-29.50M	-203.23M	126.38M	-1.58M

Piedmont Office Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 8.53
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PDM, the sentiment is Positive. The current price of 8.53 is above the 20-day moving average (MA) of 8.21, above the 50-day MA of 8.41, and above the 200-day MA of 7.62, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 65.04 is Neutral, neither overbought nor oversold. The STOCH value of 80.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PDM.

Piedmont Office Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DEA	58 Neutral	$1.01B	72.12	1.00%	9.20%	11.02%	-30.91%
PDM	55 Neutral	$1.03B	―	-4.45%	5.70%	-1.23%	9.10%
BDN	54 Neutral	$574.91M	-3.07	-19.17%	15.50%	-5.52%	40.27%
PGRE	53 Neutral	$1.57B	―	-3.14%	―	-5.29%	54.66%
JBGS	46 Neutral	$1.34B	―	-10.10%	3.80%	-11.04%	-58.49%
HPP	45 Neutral	$753.50M	―	-14.02%	―	-7.89%	-15.88%

Piedmont Office Corporate Events

Piedmont Office Announces Cash Tender Offer for Notes

On November 13, 2025, Piedmont Realty Trust announced that its operating partnership has initiated a cash tender offer to purchase all outstanding 9.250% senior notes due 2028. This move is part of a strategic financial maneuver aimed at managing its debt obligations, potentially impacting its financial structure and market positioning. The tender offer is set to expire on November 19, 2025, with settlement expected shortly thereafter, contingent upon certain conditions including a concurrent senior notes offering.

The most recent analyst rating on (PDM) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Piedmont Office stock, see the PDM Stock Forecast page.

Piedmont Office Realty Trust Reports Q3 2025 Earnings

Piedmont Office Realty Trust is a real estate investment trust (REIT) that specializes in the ownership, management, development, and operation of Class A office properties, primarily located in major U.S. Sunbelt markets.

Piedmont Office Realty Trust’s Positive Earnings Call Highlights

Piedmont Office Realty Trust’s recent earnings call exuded a strong positive sentiment, underscored by significant leasing activity and increased rental rates. The company celebrated strategic achievements in sustainability, although it acknowledged challenges in certain markets and delays in key lease renewals.

Piedmont Office Amends Loan Agreements for Financial Flexibility

On September 16, 2025, Piedmont Operating Partnership, a subsidiary of Piedmont Realty Trust, amended its Revolving Credit and Term Loan Agreements to eliminate the credit spread adjustment from SOFR-based interest rates. This strategic financial adjustment could potentially impact Piedmont’s borrowing costs and financial flexibility, influencing its operations and positioning in the real estate market.

The most recent analyst rating on (PDM) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Piedmont Office stock, see the PDM Stock Forecast page.