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Side-by-side financial comparison of Piedmont Realty Trust, Inc. (PDM) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
Piedmont Realty Trust, Inc. is the larger business by last-quarter revenue ($143.3M vs $93.6M, roughly 1.5× PennyMac Mortgage Investment Trust). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs -31.4%, a 87.4% gap on every dollar of revenue. On growth, Piedmont Realty Trust, Inc. posted the faster year-over-year revenue change (0.4% vs -13.3%). Over the past eight quarters, PennyMac Mortgage Investment Trust's revenue compounded faster (12.3% CAGR vs 0.0%).
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
PDM vs PMT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.3M | $93.6M |
| Net Profit | $-45.0M | $52.4M |
| Gross Margin | — | — |
| Operating Margin | — | 38.6% |
| Net Margin | -31.4% | 56.0% |
| Revenue YoY | 0.4% | -13.3% |
| Net Profit YoY | -27.9% | 12.5% |
| EPS (diluted) | $-0.10 | $0.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $143.3M | — | ||
| Q4 25 | $142.9M | $93.6M | ||
| Q3 25 | $139.2M | $99.2M | ||
| Q2 25 | $140.3M | $70.2M | ||
| Q1 25 | $142.7M | $44.5M | ||
| Q4 24 | $143.2M | $107.9M | ||
| Q3 24 | $139.3M | $80.9M | ||
| Q2 24 | $143.3M | $71.2M |
| Q1 26 | $-45.0M | — | ||
| Q4 25 | $-43.2M | $52.4M | ||
| Q3 25 | $-13.5M | $58.3M | ||
| Q2 25 | $-16.8M | $7.5M | ||
| Q1 25 | $-10.1M | $9.7M | ||
| Q4 24 | $-30.0M | $46.5M | ||
| Q3 24 | $-11.5M | $41.4M | ||
| Q2 24 | $-9.8M | $25.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 47.4% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | — | 51.1% | ||
| Q3 24 | — | 32.8% | ||
| Q2 24 | — | 40.2% |
| Q1 26 | -31.4% | — | ||
| Q4 25 | -30.3% | 56.0% | ||
| Q3 25 | -9.7% | 58.7% | ||
| Q2 25 | -12.0% | 10.7% | ||
| Q1 25 | -7.1% | 21.8% | ||
| Q4 24 | -20.9% | 43.1% | ||
| Q3 24 | -8.3% | 51.2% | ||
| Q2 24 | -6.8% | 35.7% |
| Q1 26 | $-0.10 | — | ||
| Q4 25 | $-0.34 | $0.49 | ||
| Q3 25 | $-0.11 | $0.55 | ||
| Q2 25 | $-0.14 | $-0.04 | ||
| Q1 25 | $-0.08 | $-0.01 | ||
| Q4 24 | $-0.25 | $0.45 | ||
| Q3 24 | $-0.09 | $0.36 | ||
| Q2 24 | $-0.08 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3M | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $1.5B | $1.9B |
| Total Assets | $4.0B | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3M | — | ||
| Q4 25 | $731.0K | $190.5M | ||
| Q3 25 | $3.0M | $181.0M | ||
| Q2 25 | $3.3M | $108.6M | ||
| Q1 25 | $2.9M | $204.2M | ||
| Q4 24 | $109.6M | $103.2M | ||
| Q3 24 | $133.6M | $102.8M | ||
| Q2 24 | $138.5M | $336.3M |
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $1.1B | ||
| Q3 25 | $2.2B | $299.0M | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.2B | $968.4M | ||
| Q4 24 | $2.2B | $1.0B | ||
| Q3 24 | $2.2B | $5.2B | ||
| Q2 24 | $2.2B | $5.4B |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $1.9B | ||
| Q3 25 | $1.5B | $1.9B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $1.6B | $1.9B | ||
| Q3 24 | $1.6B | $1.9B | ||
| Q2 24 | $1.7B | $1.9B |
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $21.3B | ||
| Q3 25 | $4.0B | $18.5B | ||
| Q2 25 | $4.0B | $16.8B | ||
| Q1 25 | $4.0B | $14.9B | ||
| Q4 24 | $4.1B | $14.4B | ||
| Q3 24 | $4.1B | $13.1B | ||
| Q2 24 | $4.2B | $12.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | 0.58× | ||
| Q3 25 | 1.43× | 0.16× | ||
| Q2 25 | 1.41× | 0.65× | ||
| Q1 25 | 1.40× | 0.51× | ||
| Q4 24 | 1.40× | 0.52× | ||
| Q3 24 | 1.36× | 2.70× | ||
| Q2 24 | 1.34× | 2.76× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-7.2B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 110.3% | — |
| Cash ConversionOCF / Net Profit | — | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $140.6M | $-7.2B | ||
| Q3 25 | $35.8M | $-1.3B | ||
| Q2 25 | $50.1M | $-2.0B | ||
| Q1 25 | $3.7M | $-594.3M | ||
| Q4 24 | $198.1M | $-2.7B | ||
| Q3 24 | $42.9M | $-983.8M | ||
| Q2 24 | $66.8M | $243.8M |
| Q1 26 | 110.3% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | -137.76× | ||
| Q3 25 | — | -22.26× | ||
| Q2 25 | — | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | — | -23.76× | ||
| Q2 24 | — | 9.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PDM
Segment breakdown not available.
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
