皮埃蒙特房地产信托公司2025年季度报告

ORTRANSITION REPORT PURSUANT TO SECTION13 or 15(d) OF THE SECURITIES EXCHANGE ACT of 1934 For the Transition Period FromtoCommission file number001-34626Piedmont Realty Trust, Inc.(Exact name of registrant as specified in its charter)____________________________________________________Maryland(State or other jurisdiction of incorporation or organization) 5565 Glenridge Connector Ste. 450Atlanta,Georgia30342(Address of principal executive offices) (Zip Code) (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act:Trading Symbol(s)Name of exchange on which registeredCommon Stock, $0.01 par valuePDMNew York Stock Exchange reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.oIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No x TABLE OF CONTENTS Financial Information Item1.Consolidated Financial StatementsConsolidated Balance Sheets—June 30, 2025 (Unaudited) and December31, 2024 Consolidated Statements of Operations (Unaudited) for the Threeand Six MonthsEndedJune30, 2025 and 2024Consolidated Statements of Comprehensive Loss (Unaudited) for the Threeand Six Months Management’s Discussion and Analysis of Financial Condition and Results of Operations Quantitative and Qualitative Disclosures About Market RiskControls and Procedures Item1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of Proceeds These statements are based on beliefs and assumptions of our management, which in turn are based on information available at the time the statements are made. Important assumptions relating to the forward-looking statements include, among others, assumptions regarding the demand for office space in the markets in which we operate, competitive conditions, and general economic conditions.These assumptions could prove inaccurate. The forward-looking statements also involve certain known and unknown risks anduncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many ofthese factors are beyond our ability to control or predict. Such factors include, but are not limited to, the following:•Economic, regulatory, socio-economic (including work from home and "hybrid" work policies), technological (e.g. artificialintelligence and machine learning, virtual meeting platforms, etc.), and other changes that impact the real estate market •Thesuccess of our real estate strategies and investment objectives,including our ability to implement successfulredevelopment and development strategies or identify and consummate suitable acquisitions and divestitures;•The illiquidity of real estate investments, including economic changes, such as rising interest rates, costs of construction,improvements and redevelopments, and available financing, which could impact the number of buyers/sellers of our targetproperties, and regulatory restrictions to which real estate investment trusts ("REITs") are subject and the resulting •Future acts of terrorism, civil unrest, or armed hostilities in any of the major metropolitan areas in which we own properties;•Risks related to the occurrence of cybersecurity incidents, including cybersecurity incidents against us or any of our impacting our operations and the public's reaction to reported cybersecurity incidents, including the reputational impact onour business and value of our common stock;•Costs of complying with governmental laws and regulations, including environmental standards imposed on office building owners;•Uninsured losses or losses in excess of our insurance coverage, and our inability to obtain adequate insurance coverage at areasonable cost; •Additional risks and costs associated with directly managing properties occupied by government tenants, such as potentialchanges in the political environment, a reduction in federal or state funding of our governmental tenants, government layoffs or an increased risk of default by government tenants during periods in which state or federal governments are shut down oron furlough;•Significant price and volume fluctuations in the public markets, including on the exchange which we listed our common lenders and rising interest rates for new debt financings; 3 •The effect of future offerings of debt or equity securities on the value of our common stock; the rate of inflation, including the impact of a possible recession, uncertainty and volatility in financial markets, an