Piedmont Realty Trust (PDM) Q2 FY26 earnings call

Piedmont Realty Trust delivered a strong quarter, driven by robust leasing activity and significant rental rate growth across its high-quality office portfolio. The company raised its full-year FFO and same-store NOI guidance, reflecting improved operating metrics and a tightening market for premium office space. Management is focused on converting the substantial leasing pipeline into cash flow, optimizing the portfolio, and deleveraging the balance sheet, with a long-term target to reduce net debt-to-EBITDA to 6x.