Piedmont Realty Trust, Inc.

piedmontreit.com

What Do They Do?

Owns, manages, develops and operates Class A office properties in major U.S. Sunbelt markets, leasing space to corporate tenants and governmental agencies.

How Do They Make Money?

Tenants pay to rent office space; prepaid rent is counted as rental income in the period it is earned.

revenue

Segment	Share	Revenue
Property management fee revenue	1.3% FY2022: 9.3%
Other property related income	99% FY2022: 91%

Who Are Their Customers?

Leases office space to corporate tenants across multiple industries and to governmental agencies.

Do Revenues Turn Into Profits?

No. It lost $83.6M in FY2025.

Net income, FY2025

−15% of revenue

▲ +6% (Loss) vs FY2024 (−$79.1M, −14%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▲ +9%; vs $139.2M in Q3 FY2025
Net income: ▲ +56% (Loss); vs −$13.5M in Q3 FY2025

Other property related income share of revenue from contract with customer, excluding assessed tax vs 98.1% in Q3 FY2025

Sep 14, 2026 Bought an office building and agreed to sell office properties The proposed sale is for approximately $80 million; Piedmont also sold Royal Lane Land.

Flat. Revenue was $565M in FY2025, about the same as the $528.7M of FY2021.

Revenue over time

Property management fee revenue Other property related income

$50M$25M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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