Piedmont Office Realty Trust (PDM) Tops Q1 EPS by 2c

Piedmont Office Realty Trust (NYSE: PDM) reported Q1 EPS of $0.08, $0.02 better than the analyst estimate of $0.06.

Commenting on first quarter results, Brent Smith, President and Chief Executive Officer, said, "We are pleased with both our overall financial and operational results and, in particular, our leasing activity for the first quarter. While the successful long-term lease extension of one of our largest tenants, Raytheon, was certainly the standout in terms of leases executed during the first quarter, we are encouraged by the breadth of activity that we are experiencing across the portfolio. We were able to execute almost as many new leases during the first quarter of 2021 as we did during the last three quarters of 2020 combined. Further, we continue to have good activity in our leasing pipeline and anticipate continued momentum into the second quarter. I'm also very pleased with our continued industry-leading progress towards our environmental and diversity and inclusion goals, including earning the Energy Star Partner of the Year designation for the first time and establishing the Piedmont Scholars Program at Morehouse and Howard Universities."

For earnings history and earnings-related data on Piedmont Office Realty Trust (PDM) click here.

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