Piedmont Office Realty Trust (PDM) Stock Analysis & Winston Score

Piedmont Office Realty Trust is a real estate investment trust (REIT) that owns and manages large office buildings. Its tenants are mostly mid-to-large companies and government agencies that lease office space for their employees. Piedmont focuses on Sun Belt cities like Atlanta, Dallas, and Orlando, as well as a few other major U.S. markets.

Piedmont makes money by collecting rent from tenants who sign multi-year leases, which provides relatively steady income. The company owns roughly 17 million square feet of office space and operates entirely within the United States. Its main competitive challenge is the ongoing weakness in office demand — remote and hybrid work has left many buildings with empty floors, and Piedmont carries a significant debt load, which makes it harder to weather high vacancy rates. The key risk going forward is whether office attendance recovers enough to keep tenants renewing leases at healthy rates.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+0.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-23.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

1.3%ownership

Relatively low insider ownership

Cash Runway

~1 months

$2M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Piedmont Office Realty Trust has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

-22.7%

Thin — -22.7% gross margin

Operating Margin

13.1%

Healthy — 13.1% operating margin

ROCE

0.5%

Weak — 0.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-0.5%

Shrinking sales (-0.5% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

1.6%

Thin free cash flow (1.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

1.52

Elevated debt (1.52)

Interest Cover

0.61x

Dangerous — barely covers interest (0.6x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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