Piedmont Realty Trust releases Q3 2026 earnings and supplemental data

Piedmont Realty Trust has published its third-quarter 2026 earnings release and supplemental package as an exhibit to its Form 8-K filing. The document, identified as EX-99.1, provides a comprehensive overview of the company's financial condition and operational results for the period ending in September 2026.

The supplemental materials include a detailed index of financial statements, such as consolidated balance sheets, statements of income, and funds from operations. Piedmont Realty Trust reports on non-GAAP financial measures, including FFO, Core FFO, AFFO, Same Store NOI, Property NOI, EBITDAre, and Core EBITDA. The company notes that these measures are not prepared in accordance with U.S. generally accepted accounting principles (GAAP) and should not be considered in isolation or as a substitute for GAAP-calculated results. Because calculation methods may vary among real estate investment trusts (REITs), the presentation of these non-GAAP measures may not be comparable to similarly titled disclosures by other companies.

The release includes forward-looking statements regarding the company's estimated range of net income, depreciation, amortization, and per-share metrics for the year ending December 31, 2026. Management bases these estimates on beliefs and assumptions available at the time of the statement. The company warns that actual results may differ materially due to various risks, including economic changes, regulatory shifts, and technological impacts on commercial office space usage. Specific risks cited include competition in lease renewals, potential lease terminations or defaults by large tenants, and impairment charges on long-lived assets.

Piedmont Realty Trust also highlights risks associated with real estate illiquidity, development delays, and supply chain disruptions that could increase construction costs. The company identifies cybersecurity incidents, both direct and those affecting vendors or tenants, as a potential threat to operations and stock value. Additional risks include compliance costs with environmental standards and the specific challenges of managing properties occupied by government tenants, such as funding reductions or political environment changes.

The supplemental package details tenant diversification, credit ratings, and lease distribution across various industries and geographies. It provides portfolio statistics, including leased percentages, rental rate roll-ups and roll-downs, and future contractual income from leases yet to commence. The document also outlines debt summaries, covenant ratios, and lease expiration schedules for quarterly and annual periods. Readers are directed to page 3 for a discussion of important risks related to the business and investment in Piedmont Realty Trust securities.

Certain prior period amounts in the report have been reclassified to conform to current period financial statement presentation. Schedules in the report contain rounding to the nearest thousands or millions, which may result in totals that do not sum precisely due to this convention. The company states it may change the calculation of non-GAAP measures from time to time based on its then-existing operations.