Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Piedmont Realty Trust, Inc. (PDM)
NYSEReal EstateReit - OfficeSnapshot 2026-11-04
$9.86-2.09%
Close 2026-11-05 · 1-day change
NYSEReal EstateReit - OfficeSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
Matching fiscal periods, usable estimates and at least one analyst are required.
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
The calculation requires same-period, same-provider snapshots, positive EPS, at least one analyst and a baseline within three days of the requested lookback.
The EPS and P/E reference is not available for PDM yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Maintain Core FFO guidance of $1.47 to $1.53 per diluted share in 2026 | The company maintains Core FFO guidance between $1.47 and $1.53 per share. | Intact | Core FFO falls below $1.47 per share in FY26 | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Next earnings date unavailable
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
This is a real estate recovery and execution thesis, not a proven earnings compounder, because the company is still loss-making. The long-term thesis is intact, with recent financial performance in the stronger half of its industry, though near-term results remain uncertain.
The valuation evidence points to PDM being cheap versus peers, while the model labels the current pricing justified and finds low fragility. The expectations gap is small, so the available evidence suggests the market is not building in a large expectations mismatch.
Near term, operating results show progress: third-quarter cash-basis Same Store NOI, a measure of operating income from comparable properties, increased 7.5%, and management raised its 2026 outlook to a 5% to 8% range. Leasing spreads were strong and debt costs declined, but leased occupancy fell to 87.7%, and the company has a high recent miss rate. Over the multi-year view, continued delivery on operating growth and refinancing matters, while a guidance reversal would damage management credibility.
The favorable case depends in part on continued operating delivery and lower interest rates, which could support rate-sensitive real estate. The unfavorable case includes a guidance cut after the recent increase, or signs of weakness among real estate peers that remove the sector tailwind. Occupancy and the next earnings report are important near-term checks.
Over the next one to three years, PDM’s thesis rests on sustaining operating growth and improving leasing while managing financing costs; its loss-making status and near-term reporting risk remain important constraints. The evidence is mixed but the thesis is intact. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| Piedmont Realty Trust aims to grow Same Store NOI by 4% to 7% in 2026. |
| Intact |
| Same Store NOI growth falls below 4% in FY26 |
Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 3 of 3 supplied quarters. Management reported: “Same Store NOI on a cash basis grew approximately 8% during the quarter as free rent related to recently executed leases continues to burn off.” “Furthermore, the continued burn off of free rent helped to generate same store cash NOI growth of 9%, and operational outperformance from leasing set to commence in the second half of the year is contributing to an increase in our 2026 annual earnings outlook."” Delivery assessment Nov 4, 2026 |
Extend Term Loan Agreement to $400 million | The Term Loan extension to $400 million improves financial flexibility. | Intact | Term Loan agreement not extended or principal reduced below $400 million | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$0.12 → $0.25 · observed estimates
$0.59B → $0.59B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $0.12 | $592,702,520 | 1 / 2 |
| 2026-07-25 | $0.12 | $592,702,520 | 1 / 2 |
| 2026-07-26 | $0.12 | $592,702,520 | 1 / 2 |
| 2026-07-27 | $0.12 | $592,702,520 | 1 / 2 |
| 2026-07-28 | $-0.09 | $559,982,333 | 1 / 1 |
| 2026-07-29 | $-0.30 | $597,801,680 | 1 / 3 |
| 2026-07-30 | $-0.30 | $597,801,680 | 1 / 3 |
| 2026-07-31 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-01 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-02 | $0.12 | $597,135,020 | 1 / 3 |
| 2026-08-03 | $0.12 | $597,135,020 | 1 / 3 |
| 2026-08-04 | $0.12 | $597,135,020 | 1 / 3 |
| 2026-08-05 | $0.12 | $597,135,020 | 1 / 3 |
| 2026-08-06 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-07 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-08 | $0.12 | $597,135,020 | 1 / 3 |
| 2026-08-09 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-10 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-12 | $0.12 | $597,135,020 | 1 / 3 |
| 2026-08-13 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-14 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-15 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-16 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-17 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-18 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-19 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-20 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-21 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-22 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-23 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-24 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-25 | $-0.09 | $597,209,723 | 1 / 2 |
| 2026-08-26 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-08-27 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-08-28 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-08-29 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-08-30 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-08-31 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-01 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-02 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-03 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-04 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-05 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-06 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-07 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-08 | $-0.09 | $602,186,667 | 1 / 2 |
| 2026-09-09 | $-0.07 | $602,186,667 | 1 / 1 |
| 2026-09-10 | $-0.07 | $602,186,667 | 1 / 1 |
| 2026-09-11 | $-0.07 | $602,186,667 | 1 / 1 |
| 2026-09-12 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-13 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-14 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-15 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-16 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-17 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-18 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-19 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-20 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-21 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-22 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-23 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-24 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-25 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-26 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-27 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-28 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-29 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-09-30 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-01 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-02 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-03 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-04 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-05 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-06 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-07 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-08 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-09 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-10 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-11 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-12 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-13 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-14 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-15 | $-0.07 | $602,186,667 | 1 / 2 |
| 2026-10-16 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-17 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-18 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-19 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-20 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-21 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-22 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-23 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-24 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-25 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-26 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-27 | $-0.03 | $597,619,993 | 1 / 2 |
| 2026-10-28 | $-0.03 | $593,620,016 | 1 / 2 |
| 2026-10-29 | $-0.03 | $593,620,016 | 1 / 2 |
| 2026-10-30 | $-0.03 | $593,620,016 | 1 / 2 |
| 2026-10-31 | $-0.03 | $593,620,016 | 1 / 2 |
| 2026-11-01 | $0.25 | $593,620,016 | 1 / 2 |
| 2026-11-02 | $0.25 | $593,620,016 | 1 / 2 |
| 2026-11-03 | $0.25 | $593,620,016 | 1 / 2 |
| 2026-11-04 | $0.25 | $593,620,016 | 1 / 2 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 2 Buy / Strong Buy · 2 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 1 recorded
Individual price-target observations are unavailable.
0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.