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Prepared By R.R. Donnelley Financial -- Form 8-K
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  06/25/2009
 
Piedmont Office Realty Trust, Inc.
(Exact name of registrant as specified in its charter)
 
Commission File Number:  000-25739
 
MD
  
58-2328421
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
11695 Johns Creek Parkway
Suite 350
Johns Creek, GA 30097-1523
(Address of principal executive offices, including zip code)
 
770-418-8800
(Registrant’s telephone number, including area code)
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
Item 7.01.    Regulation FD Disclosure
 
On June 22, 2009, Piedmont Office Realty Trust, Inc. (the "Registrant") drafted the letter attached as Exhibit 99.1 to this Current Report on Form 8-K. Such letter will be included in all stockholders' second quarter statements. Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein are deemed to have been furnished and shall not be deemed to be "filed" under the Securities Exchange Act of 1934.
The exhibit to this Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including discussions regarding any liquidity event of the Registrant and other factors that may affect future earnings or financial results. Such forward-looking statements can generally be identified by the Registrant's use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate ," "estimate," "believe" or other similar words. Information given in this correspondence relating to leasing, the Registrant's debt-to-equity ratio and other facts and figures are given as of the date of this filing. Factors that may cause actual results to differ materially include changes in general economic conditions, changes in real estate conditions, construction delays, increases in interest rates, lease-up risks, lack of availability of financing, expected borrowings to fund repurchases under the share redemption program and lack of availability of capital proceeds. Piedmont Office Realty Trust is closed to new investors. SEC filings: www.sec.gov.
 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
      
 
Piedmont Office Realty Trust, Inc.
 
 
Date: June 25, 2009
     
By:
 
/s/    Robert E. Bowers
               
Robert E. Bowers
               
Chief Financial Officer and Executive Vice President
 
 

 

Exhibit Index
 
Exhibit No.
  
Description
EX-99.1
  
Letter To Stockholders, Dated June 22, 2009
June 22, 2009

June 22, 2009

Dear Fellow Stockholder:

As we near the halfway mark for 2009, we continue to be thankful for the strengths that have kept Piedmont resilient. Our heritage of low-leverage and high-quality tenants and properties has served us well. With limited funding available in the equity and debt markets, we have endeavored to maintain the wise use of our valued capital resources. At the same time, finding a liquidity alternative at a fair price to our stockholders remains a top priority.

You'll notice that the accompanying account statement is redesigned and contains your dividend confirmation for the second quarter of 2009. The dividend amount remains stable and unchanged from the first quarter of 2009 at $0.105 per share.

Reflections on stockholder tour

Thanks very much to all of you who recently took the time to attend one of our regional stockholder meetings. Traveling across the country and meeting so many fellow stockholders face-to-face was encouraging and motivating. For those of you who were unable to come to one of these meetings, please take a moment to visit the newly updated Investor Relations section on our Web site at www.piedmontreit.com where we've posted a recent version of the stockholder tour presentation. We will continue to periodically revise this information with updated data. You also can sign up on this Web site to receive e-mail notifications of our future SEC filings and press releases. Along with the savings from the new statement redesign, e-mail alerts are another economical way for us to provide clear and timely stockholder communications.

Current economic conditions

While uncertainties in the commercial real estate market persist, some economic indicators are starting to show slight improvement. However, the unemployment rate continues to climb, and this is the economic indicator with perhaps the greatest impact on our business. Also, because employers frequently will delay hiring decisions until the overall economic outlook becomes generally positive, growth in office sector employment may lag. In our view, the only sectors of the economy producing new jobs and absorbing office space right now are government and healthcare. Therefore, we anticipate facing a challenging leasing environment over the next two to three years. Even with these market conditions in mind, we believe that we have the ability to weather these challenges and that Piedmont remains in a strong position relative to many of our peers.

Individual stockholder liquidity remains a high priority for Piedmont. Unlike most firms in our industry, we reopened our Share Redemption Program in April and repurchased $70 million of Piedmont stock related to ordinary redemptions and $11 million of stock related to death and required minimum distributions (RMDs). Those redemption checks were mailed by the end of May. We still have approximately $20 million allocated for the remainder of 2009 for additional redemptions related specifically to death and RMDs. If you have questions about the status of your particular redemption request, please refer to the Investor Frequently Asked Questions - Share Redemption Program section of our Web site or contact an Investor Relations Specialist at 1-800-557-4830.

Once again, we very much appreciate your continued support of Piedmont.

Donald A. Miller, CFA

Chief Executive Officer

Piedmont Office Realty Trust, Inc.