On its third-quarter 2026 earnings call, held on Oct. 27, 2026, Piedmont Realty Trust (NYSE:PDM) announced a third consecutive increase to its full-year earnings outlook as landlord pricing power expands. Commercial tenants face shrinking options for premium workspace, which lets property owners push net effective rent, defined as rent earned after accounting for concessions and capital expenditures, to record levels. Three things management said stand out. Tight commercial office inventory allows Piedmont Realty Trust to achieve record rental pricing across major Sunbelt markets, defined as warm-weather southern U.S. regions. Existing tenants are requesting early renewals to lock in space before availability vanishes entirely.
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