PDM at a glance
Piedmont Realty Trust, Inc. (PDM, SEC CIK 1042776) filed its latest 10-K annual report on February 17, 2026, a 10-Q quarterly report on July 28, 2026, an 8-K current report on September 17, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Piedmont Realty Trust, Inc. (PDM) reported revenue of $565.0 million (down 0.9% from FY2024) and a net loss of $83.6 million. Diluted EPS was -$0.67.
- As of June 30, 2026, 29 institutional investment managers tracked by SignalX reported holding Piedmont Realty Trust, Inc. (PDM) shares worth $548.5 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by REXROAD SHERRY L on October 1, 2026 of 4,446 shares at $8.81 per share.
- In the last 90 days, PDM insiders reported 0 open-market purchases ($0) and 1 open-market sale ($39K) on Form 4, a net sale of $39K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $565.0M
- −0.9% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$39K
- 13F holders
- 29 funds
- $548.5M · +0 vs prior quarter
- Latest 8-K
- Sep 17, 2026
- Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Ownership, management, development of Class A office properties primarily in U.S. Sunbelt markets totaling ~16 million sq ft
- New emphasis: Redevelopment projects (3 ongoing) with 62% leased, enhancing tenant amenities to boost occupancy and rents
- Strategic focus: Hospitality-driven management approach with 99% portfolio BOMA 360 certification, ranking in top 10 REITs nationwide
- Notable metric: Tenant retention rate approximately 65% over 5 years, with 89.6% leasing occupancy on 14.9 million sq ft in-service properties
- Sustainability leadership: ENERGY STAR Partner of the Year 5th consecutive year; 83% portfolio ENERGY STAR rated, 74% LEED certified, 63% LEED gold certified
Risk Factors
- Regulatory risk: REIT status maintenance requirement impacting dividend payout and cash flow allocation
- Macroeconomic risk: $312.7M senior notes repurchase with $37.3M loss on early extinguishment due to refinancing market conditions
- Operational risk: Capital expenditures $157.2M in 2025, reflecting volatile tenant improvement and leasing cost commitments $6.58/SF
- Market disruption risk: Tenant demand variability evidenced by decrease in rental revenue $6.1M due to property dispositions and lease renewals
- Financial risk: $553M available borrowing capacity under $600M unsecured credit line with no maturities until 2028
Management Discussion & Analysis
- Revenue $47.4M for 2025, net loss $(155.2M) compared to prior period (net loss not specified for 2024)
- Same Store NOI up 0.2% cash basis to $297.2M, 1.8% accrual basis to $333.8M from 2024
- Best performing segment Atlanta NOI $116.0M (+$5.3M YoY); worst Northern Virginia/Washington, D.C. NOI $28.6M (down $5.5M YoY)
- EBITDAre $269.5M vs $304.7M in 2024; Core EBITDA $307.3M vs $310.0M; AFFO $84.9M vs $96.9M in 2024
- Leased percentage increased to 89.6% from 88.4%, completed 2.5M sq ft leasing in 2025; management notes inflation risk and lease roll issues impacting cash flow
AI summary of the PDM 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Quarterly revenue $144.1M vs $140.4M YoY, up $3.7M
- Net loss $11.1M vs $16.8M; net margin (8%) vs (12%) YoY
- Best segment Orlando NOI $11.7M vs $8.3M; worst Minneapolis $5.8M vs $6.1M
- Cash $16.8M, full $600M credit capacity, no required maturities until 2028
- Six-month capital expenditures $71.8M vs $81.6M; leasing costs $5.54 vs $6.72 per square foot annually
Risk Factors
- No known material changes from 2025 Form 10-K risk factors
- Most significant risks remain those previously disclosed in the 2025 Form 10-K
- No new regulatory, legal, or compliance risk identified for second quarter 2026
- No new operational, competitive, or market risk identified for second quarter 2026
- No new liquidity, debt maturity, currency, or concentration risk identified for second quarter 2026
AI summary of the PDM 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 1.01: Entry into a Material Definitive Agreement
- No material agreement terms disclosed in the provided Item 1.01 excerpt
- Investor impact cannot be assessed without the referenced agreement or additional filing details
Item 8.01: Other Events
- Forward-looking statement disclaimer limits reliance on projections and highlights material execution risks
- Office-sector exposure remains vulnerable to lease losses, tenant defaults, re-leasing pressure, and changing workplace patterns
Item EX-99.1: Item EX-99.1
- $200 million 2.875% exchangeable senior notes due 2031, with potential upsizing to $230 million
- Proceeds target redemption of 9.250% senior notes due 2028, indicating refinancing toward materially lower-cost debt
Item EX-99.1: Item EX-99.1
- Proposed $200 million exchangeable senior notes due February 1, 2031, with a $30 million overallotment option
- Proceeds primarily refinance 9.250% senior notes due 2028, potentially lowering refinancing risk but final interest rate remains undetermined
Item 8.01: Other Events
- Forward-looking disclosure tied to Notes and potential common-stock exchange issuance
- Investor focus: dilution risk if Notes convert into common stock
AI summaries of PDM 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for PDM
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| REXROAD SHERRY L | M | Oct 1, 2026 | 15,152 | - |
| REXROAD SHERRY L | Sell | Oct 1, 2026 | 4,446 | $8.81 |
| REXROAD SHERRY L | M | Oct 1, 2026 | 15,152 | - |
| Lewis Stephen E | A | May 12, 2026 | 12,883 | - |
| Donnelly Jeffrey | M | May 12, 2026 | 15,217 | - |
| Donnelly Jeffrey | A | May 12, 2026 | 12,883 | - |
| Donnelly Jeffrey | F | May 12, 2026 | 3,348 | $8.15 |
| Taysom Dale H. | M | May 12, 2026 | 15,217 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Profitability | ||||
| Revenue | $577.8M | $570.3M | $565.0M | |
| Net Income | -$48.4M | -$79.1M | -$83.6M | |
| Net Margin | -8.4% | -13.9% | -14.8% | |
| Balance Sheet | ||||
| Total Assets | $4.1B | $4.1B | $4.0B | |
| Equity | $1.7B | $1.6B | $1.5B | |
| ROE | -2.8% | -5.0% | -5.6% | |
| Per Share | ||||
| EPS | $-0.39 | $-0.64 | $-0.67 | |
| Cash Flow | ||||
| Operating CF | $210.1M | $198.1M | $140.6M | |
Source: XBRL data in Piedmont Realty Trust, Inc. (PDM)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate PDM share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 29 | $548.5M |
| Q1 2026 | 29 | $412.8M |
| Q4 2025 | 29 | $520.3M |
| Q3 2025 | 29 | $570.3M |
| Q2 2025 | 30 | $452.1M |
| Q1 2025 | 25 | $295.0M |
| Q4 2024 | 21 | $320.8M |
| Q3 2024 | 18 | $153.2M |
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- Prudential Financial−3.24M (-92%)
- Ameriprise Financial−565.5K (-25%)
- Dimensional Fund Advisors−256.2K (-16%)
- Goldman Sachs Group−227.2K (-17%)
- JPMorgan Chase & Co−113.8K (-8%)
- Citadel Advisors LLC+125.1K
- D.E. Shaw & Co−152.0K
Source: 13F-HR filings on SEC EDGAR (aggregated from 210 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
PDM filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 8-K | Sep 17, 2026 | - | Analysis | - |
| 8-K | Sep 15, 2026 | - | Analysis | - |
| 8-K | Sep 14, 2026 | - | Analysis | - |
| 8-K | Jul 28, 2026 | - | Analysis | - |
| 10-Q | Jul 28, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | May 28, 2026 | - | Analysis | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 4 | May 13, 2026 | - | - | |
| 8-K | May 12, 2026 | - | Analysis | |
| 8-K | Apr 30, 2026 | - | Analysis | - |
| 10-Q | Apr 30, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 30, 2026 | - | - | |
| 4 | Feb 25, 2026 | - | - | - |
| 4 | Feb 25, 2026 | - | - | - |
| 4 | Feb 25, 2026 | - | - | - |
| 4 | Feb 25, 2026 | - | - | - |
| 4 | Feb 25, 2026 | - | - | - |
| 4 | Feb 18, 2026 | - | - | |
| 4 | Feb 18, 2026 | - | - | |
| 4 | Feb 18, 2026 | - | - | |
| 10-K | Feb 17, 2026 | Dec 31, 2025 | Analysis |
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PDM SEC filings: frequently asked questions
Are PDM insiders buying or selling?
In the last 90 days, Piedmont Realty Trust, Inc. (PDM) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $39,169 by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold PDM stock?
As of June 30, 2026, the largest Piedmont Realty Trust, Inc. (PDM) holders among the 13F filers tracked by SignalX were BlackRock ($140.0 million), Vanguard Portfolio Management LLC ($116.0 million), COHEN & STEERS, INC. ($74.0 million), Vanguard Capital Management LLC ($50.9 million), State Street Corp ($48.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was PDM's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Piedmont Realty Trust, Inc. (PDM) reported revenue of $565.0 million (down 0.9% from FY2024) and a net loss of $83.6 million. Diluted EPS was -$0.67. The figures come from the XBRL data in the 10-K.
What are the main risks in PDM's latest 10-K?
In the 10-K filed February 17, 2026, Piedmont Realty Trust, Inc. (PDM) flagged: Regulatory risk: REIT status maintenance requirement impacting dividend payout and cash flow allocation. Macroeconomic risk: $312.7M senior notes repurchase with $37.3M loss on early extinguishment due to refinancing market conditions. (AI summary of the Risk Factors section.)
What did PDM report in its latest 8-K?
Piedmont Realty Trust, Inc. (PDM) filed an 8-K on September 17, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement). No material agreement terms disclosed in the provided Item 1.01 excerpt.
What are the latest PDM SEC filings?
Piedmont Realty Trust, Inc. (PDM) filed its latest 10-K annual report on February 17, 2026, a 10-Q quarterly report on July 28, 2026, an 8-K current report on September 17, 2026 and a Form 4 insider filing on October 2, 2026.
What is PDM's SEC CIK number?
Piedmont Realty Trust, Inc. (PDM)'s SEC Central Index Key (CIK) is 1042776. EDGAR lists every PDM filing under that number.
Ask anything about PDM
The research agent reads PDM's filings, financials, insider trades and 13F holders, then answers with sources.