v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real estate assets, at cost:    
Land $ 542,474 $ 542,474
Buildings and improvements, less accumulated depreciation of $1,345,832 and $1,278,600 as of June 30, 2026 and December 31, 2025, respectively 2,779,052 2,787,669
Intangible lease assets, less accumulated amortization of $65,398 and $73,824 as of June 30, 2026 and December 31, 2025, respectively 37,239 44,371
Construction in progress 47,131 44,358
Real estate assets held for sale, net 2,837 2,837
Total real estate assets 3,408,733 3,421,709
Cash and cash equivalents 16,785 731
Tenant receivables 11,440 6,155
Straight-line rent receivables 219,636 214,285
Restricted cash and escrows 4,961 3,060
Prepaid expenses and other assets 24,120 20,857
Goodwill 53,491 53,491
Interest rate swaps 530 0
Deferred lease costs, less accumulated amortization of $219,933 and $209,155 as of June 30, 2026 and December 31, 2025, respectively 308,286 311,066
Total assets 4,047,982 4,031,354
Liabilities:    
Unsecured debt, net of unamortized discount and debt issuance costs of $23,287 and $23,368 as of June 30, 2026 and December 31, 2025, respectively 2,063,971 2,035,890
Secured debt 186,966 188,822
Accounts payable, accrued expenses and accrued capital expenditures 185,339 172,880
Deferred income 115,496 112,124
Intangible lease liabilities, less accumulated amortization of $29,934 and $35,036 as of June 30, 2026 and December 31, 2025, respectively 21,216 24,824
Interest rate swaps 0 111
Total liabilities 2,572,988 2,534,651
Commitments and Contingencies (Note 7) 0 0
Stockholders’ Equity:    
Shares-in-trust, 150,000,000 shares authorized; none outstanding as of June 30, 2026 or December 31, 2025 0 0
Preferred stock, no par value, 100,000,000 shares authorized; none outstanding as of June 30, 2026 or December 31, 2025 0 0
Common stock, $0.01 par value, 750,000,000 shares authorized; 125,132,825 and 124,519,278 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 1,251 1,245
Additional paid-in capital 3,730,985 3,730,273
Cumulative distributions in excess of earnings (2,251,371) (2,227,350)
Accumulated other comprehensive loss (7,368) (8,967)
Piedmont stockholders’ equity 1,473,497 1,495,201
Noncontrolling interest 1,497 1,502
Total stockholders’ equity 1,474,994 1,496,703
Total liabilities and stockholders’ equity $ 4,047,982 $ 4,031,354