Piedmont Office Realty Trust, Inc. (NYSE: PDM), a self-administered and self-managed real estate investment trust (REIT), is one of the nation’s largest publicly-traded owners of Class A office properties. Piedmont is focused on creating value for its shareholders through the acquisition, development, ownership and progressive management of premier properties primarily located in the Sunbelt.
We operate in select markets primarily located in the Sunbelt which offer a diverse industry base, high population/job growth, a favorable business environment and attractive long-term fundamentals. We are concentrated in distinct submarkets which allow Piedmont to accumulate scale and leverage our leading positions to drive growth.
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Our assets are well-positioned to meet the evolving needs of today's office users and offer a strong amenity base, high walkability, convenient access to major highways, proximity to executive housing.
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Piedmont is dedicated to enhancing the communities in which we operate. We believe we can have a positive impact and effect change through charitable contributions, time and an unwavering commitment to conserving the environment.
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We maintain a flexible capital structure and conservative leverage metrics. We are currently rated Baa2 by Moody's and BBB by S&P. We are committed to providing market-leading financial transparency.
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We adopt shareholder-focused governance practices. Seven out of eight Board members are independent, including our Chairman.
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We have an experienced corporate leadership team along with highly-skilled professionals in each of our core markets. Our market leaders are engrained within their respective communities and foster local relationships with tenants, brokers, and other stakeholders.
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Since 2018, Piedmont has significantly repositioned its portfolio, disposing of almost $2 billion of fully-stabilized or slow growth assets and reinvesting in dynamic growth markets. Over 60% of our Annualized Lease Revenue is generated from the Sunbelt region. Piedmont creates significant value through its redevelopment initiatives, reinvesting and reinventing assets to deliver unique and vibrant environments.