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Piedmont Unveils Q1 Leasing and Capital Market Activities
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Piedmont Office Realty Trust, Inc. (PDM - Free Report) recently announced that it has leased around 400,000 square feet in first-quarter 2017. However, the company did not close any investment transaction during the quarter.
A couple of notable first-quarter lease deals included a 52,720-square-foot, 10 year new lease through 2028 with Social Security Administration (SSA) Commissioner, the General Services Administration (GSA) at 250 E Street, SW, in Washington, D.C.; and a 38,318-square-foot, 5+ year lease extension through 2024 with Futurewei Technologies, Inc. at 400 Bridgewater Crossing in Bridgewater, NJ.
Moreover, the company signed deals with reputable companies for properties at a number of locations including Boston, MA; Dallas, TX; Atlanta, GA and Chicago.
Regarding capital market activities, the company did not close any investment transaction during first-quarter 2017.
Piedmont is engaged in acquisition, ownership, management and development of high-quality Class A office properties located across major U.S. markets. The continued transactional activity indicates its success in selling non-strategic assets and redeploying the proceeds into targeted submarkets.
Piedmont currently carries a Zacks Rank #2 (Buy). In the 30 days, the company’s first-quarter and full-year 2017 funds from operations (FFO) per share estimates remained unchanged.
Shares of Piedmont outperformed the Zacks categorized REIT and Equity Trust – Other industry in the last three months. While the company’s shares rose 8.5%, the industry recorded a gain of 2.4%.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 1.8% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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Piedmont Unveils Q1 Leasing and Capital Market Activities
Piedmont Office Realty Trust, Inc. (PDM - Free Report) recently announced that it has leased around 400,000 square feet in first-quarter 2017. However, the company did not close any investment transaction during the quarter.
A couple of notable first-quarter lease deals included a 52,720-square-foot, 10 year new lease through 2028 with Social Security Administration (SSA) Commissioner, the General Services Administration (GSA) at 250 E Street, SW, in Washington, D.C.; and a 38,318-square-foot, 5+ year lease extension through 2024 with Futurewei Technologies, Inc. at 400 Bridgewater Crossing in Bridgewater, NJ.
Moreover, the company signed deals with reputable companies for properties at a number of locations including Boston, MA; Dallas, TX; Atlanta, GA and Chicago.
Regarding capital market activities, the company did not close any investment transaction during first-quarter 2017.
Piedmont is engaged in acquisition, ownership, management and development of high-quality Class A office properties located across major U.S. markets. The continued transactional activity indicates its success in selling non-strategic assets and redeploying the proceeds into targeted submarkets.
Piedmont currently carries a Zacks Rank #2 (Buy). In the 30 days, the company’s first-quarter and full-year 2017 funds from operations (FFO) per share estimates remained unchanged.
Shares of Piedmont outperformed the Zacks categorized REIT and Equity Trust – Other industry in the last three months. While the company’s shares rose 8.5%, the industry recorded a gain of 2.4%.
Investors interested in the REIT space, may consider stocks like Global Net Lease, Inc. (GNL - Free Report) , CoreSite Realty Corporation (COR - Free Report) and CorEnergy Infrastructure Trust, Inc. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 1.8% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>