Piedmont Realty Trust leased 2.5 million square feet in 2025, improving portfolio occupancy and attracting new tenants.
Quiver AI Summary
Piedmont Realty Trust, Inc. announced a successful leasing year in 2025, securing 2.5 million square feet, or 16% of its portfolio, including 679,000 square feet in the fourth quarter alone. Two-thirds of the leases involved new tenants, with nearly half concerning previously vacant spaces. As of year-end 2025, Piedmont's in-service portfolio was 89.6% leased, while its out-of-service portfolio was at 62.4%. CEO Brent Smith highlighted the strong demand across their markets, driven by the company’s enhanced properties and focus on customer experience, resulting in record rental rates. Over the past five years, Piedmont has leased about 75% of its portfolio, totaling 11.6 million square feet, a testament to its successful placemaking strategy.
Potential Positives
- Piedmont Realty Trust leased 2.5 million square feet in 2025, representing approximately 16% of its portfolio, indicating robust leasing activity.
- Two-thirds of the leases were signed with new tenants, showcasing the company's ability to attract new business.
- The in-service portfolio's leased percentage increased by 1.2% over the year, reflecting growing demand for its properties.
- Piedmont's strategy of transforming its portfolio to meet modern workspace needs has successfully led to a leasing of approximately 75% of its portfolio over the last five years.
Potential Negatives
- Despite leasing 2.5 million square feet, only 89.6% of the in-service portfolio is leased, indicating a significant portion remains vacant.
- The out-of-service portfolio is even less leased at 62.4%, suggesting challenges in fully utilizing all assets.
- While the press release emphasizes leasing successes, it does not address potential challenges or losses within the overall market or competitive landscape.
FAQ
What leasing success did Piedmont Realty achieve in 2025?
Piedmont Realty leased 2.5 million square feet, about 16% of its portfolio, in 2025, with significant fourth-quarter activity.
How much of Piedmont's leasing in 2025 was new tenants?
Approximately two-thirds of the leasing in 2025 was related to new tenants, highlighting increased demand.
What was the leased percentage of Piedmont's in-service portfolio at the end of 2025?
As of December 31, 2025, Piedmont's in-service portfolio was 89.6% leased.
What is the strategy behind Piedmont's success in leasing?
Piedmont's success stems from a commitment to modernizing properties and a customer-centric placemaking approach.
How much of Piedmont's portfolio has been leased over the last five years?
Over the last five years, Piedmont has leased approximately 75% of its portfolio, equivalent to 11.6 million square feet.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PDM Revenue
$PDM had revenues of $139.2M in Q3 2025. This is a decrease of -0.09% from the same period in the prior year.
You can track PDM financials on Quiver Quantitative's PDM stock page.
$PDM Hedge Fund Activity
We have seen 103 institutional investors add shares of $PDM stock to their portfolio, and 132 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- COHEN & STEERS, INC. added 1,569,808 shares (+36.4%) to their portfolio in Q3 2025, for an estimated $14,128,272
- CENTERSQUARE INVESTMENT MANAGEMENT LLC added 1,348,706 shares (+inf%) to their portfolio in Q3 2025, for an estimated $12,138,354
- UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 1,165,006 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $10,485,054
- CLEARBRIDGE INVESTMENTS, LLC added 872,846 shares (+inf%) to their portfolio in Q3 2025, for an estimated $7,855,614
- NORDEA INVESTMENT MANAGEMENT AB removed 744,743 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $6,702,687
- MILLENNIUM MANAGEMENT LLC removed 450,502 shares (-40.3%) from their portfolio in Q3 2025, for an estimated $4,054,518
- LIGHTHOUSE INVESTMENT PARTNERS, LLC added 425,000 shares (+inf%) to their portfolio in Q3 2025, for an estimated $3,825,000
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$PDM Analyst Ratings
Wall Street analysts have issued reports on $PDM in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Truist Securities issued a "Buy" rating on 11/24/2025
To track analyst ratings and price targets for $PDM, check out Quiver Quantitative's $PDM forecast page.
Full Release
Atlanta, GA, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Piedmont Realty Trust, Inc. ("Piedmont” or “the Company") (NYSE:PDM), an owner of Class A office properties located primarily in the Sunbelt, announced today, that the Company leased 2.5 million square feet, or approximately 16% of its portfolio, during 2025, including 679,000 square feet of leases signed during the fourth quarter. Approximately two-thirds of the Company’s 2025 leasing related to new tenants, and almost half related to previously vacant space. As of December 31, 2025, the Company’s in-service portfolio was 89.6% leased and its out-of-service portfolio, comprised of two projects in Minneapolis and one in Orlando, was 62.4% leased.
Commenting on the Company’s leasing success, Brent Smith, Piedmont's President and Chief Executive Officer, said, "2025 was a phenomenal year for Piedmont from a leasing perspective. As the year progressed, we experienced accelerating demand across all our markets as our renovated buildings and customer-centric placemaking mindset resonated with clients. This demand increased the leased percentage of our in-service portfolio by 1.2% during the year and pushed rental rates across our Sunbelt markets to record highs. Clients know Piedmont PLACEs provide best-in-class work environments and elevated service at an exceptional value compared to new construction and it’s this formula that is driving our unique success. In 2025 Piedmont leased more than 10% of the portfolio to new clients, equating to 1.5 million square feet of new tenancy that will take occupancy by the end of 2026.
Continuing, Smith added, “The success we achieved in 2025 is the culmination of the team’s hard work to transform the portfolio to meet customer’s need for modernized, well-located, amenity rich, collaborative workspaces. Over the last five years, Piedmont has leased approximately 75% of our portfolio, or 11.6 million square feet– an incredible accomplishment by the team and a testament to the Piedmont placemaking strategy that we apply to all our buildings.”
About Piedmont Realty Trust
Piedmont Realty Trust™ (NYSE: PDM), is a fully integrated, self-managed real estate investment company focused on delivering an exceptional office environment. As an owner, manager, developer and operator of approximately 16 MM SF of Class A properties across major U.S. Sunbelt markets, Piedmont Realty Trust is known for its hospitality-driven approach and commitment to transforming buildings into premier “Piedmont PLACEs” that enhance each client’s workplace experience.
Contact: Sarah Heimlich
Company: Piedmont Realty Trust
Phone: 770 418 8800
Email: [email protected]
