Piedmont Realty Trust: Deeply Discounted, Significant Upside Potential

Piedmont Realty Trust trades at just 4.5x its forward funds from operations. I view this as a significant discount to broader sector averages. Over 80% of its current total portfolio has been leased between Q2 2020 and the present. The REIT has logged double-digit market rental rate rollups over the last two years, and I expect the positive momentum to continue.