Piedmont Office Realty Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 04:22 pm EDT
Share
Piedmont Office Realty Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 141.53 million compared to USD 139.57 million a year ago. Revenue was USD 146.99 million compared to USD 144.1 million a year ago. Net loss was USD 17 million compared to net income of USD 3.33 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.03 a year ago.
For the nine months, sales was USD 415.87 million compared to USD 403.64 million a year ago. Revenue was USD 432.43 million compared to USD 416.56 million a year ago. Net loss was USD 20.36 million compared to net income of USD 71.26 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to basic earnings per share from continuing operations of USD 0.58 a year ago. Diluted loss per share from continuing operations was USD 0.16 compared to diluted earnings per share from continuing operations of USD 0.58 a year ago.
Piedmont Office Realty Trust, Inc. is a fully integrated, self-managed real estate investment trust (REIT). The Company is an owner, manager, developer, redeveloper, and operator of Class A office properties located primarily in major United States Sunbelt markets. The Company conducts business through its wholly owned subsidiary, Piedmont Operating Partnership, L.P. (Piedmont OP). It owns and operates about 51 in-service office properties comprised of approximately 17 million square feet of primarily Class A office space which are 87.1% leased. It has one redevelopment asset comprising about 127,000 square feet in Orlando, Florida. The Companyâs portfolio of properties is primarily located in various metropolitan areas, including Atlanta, Dallas, Northern Virginia/Washington, D.C., Boston, Orlando, Minneapolis, and New York, and others.
PIEDMONT OFFICE REALTY TRUST, INC. 
