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Peakstone Realty Trust - PKST STOCK NEWS

Welcome to our dedicated page for Peakstone Realty Trust news (Ticker: PKST), a resource for investors and traders seeking the latest updates and insights on Peakstone Realty Trust stock.

Peakstone Realty Trust (symbol: PKST) is an internally managed, publicly registered real estate investment trust (REIT) specializing in the ownership and operation of single-tenant industrial and office properties. The company's portfolio features primarily newer vintage assets, strategically located in high-growth coastal and sunbelt markets across 24 states. With approximately 19 million square feet under management, Peakstone Realty Trust ensures that its properties are leased to creditworthy tenants through long-term contractual agreements.

The REIT's focus on high-quality real estate assets in thriving economic regions underscores its commitment to delivering consistent and sustainable returns to its investors. Peakstone continues to expand its portfolio by targeting properties in areas with robust economic activity and demographic growth, ensuring that the assets remain highly desirable to tenants.

Recent achievements include the successful acquisition of prime industrial properties in Florida and Texas, further consolidating Peakstone's presence in key markets. The trust is also involved in several development projects aimed at enhancing the value and functionality of its existing properties. These projects are anticipated to drive increased occupancy rates and rental income, thereby bolstering financial performance.

Financially, Peakstone Realty Trust remains well-positioned with a strong balance sheet and a disciplined approach to capital allocation. The company's partnerships with leading industrial and office tenants not only secure steady income streams but also contribute to the long-term stability of its asset base. Peakstone's strategic initiatives and sound financial practices make it a compelling choice for investors seeking exposure to the real estate sector.

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Peakstone Realty Trust (NYSE: PKST) has acquired a portfolio of 51 industrial outdoor storage (IOS) properties for $490 million from a joint venture between Alterra IOS and J.P. Morgan Asset Management. The portfolio includes 45 operating assets and 6 redevelopment sites, spanning 440 usable acres across 14 states. The operating assets are 100% leased with a WALT of 4.5 years, primarily to national and regional tenants. The acquisition offers a potential 70% mark-to-market opportunity on operating assets and was funded through credit facility proceeds and cash on hand. This strategic move establishes Peakstone's presence in the high-growth IOS sector, complementing its existing industrial portfolio.

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Peakstone Realty Trust (NYSE: PKST) reported Q3 2024 financial results with revenue of $55.0 million and a net loss of $(26.5) million. The company completed 147,400 square feet of leasing with 47% GAAP and 29% cash releasing spread. Key metrics include AFFO of $0.65 per share/unit and Same Store Cash NOI of $42.0 million. The portfolio consists of 62 properties across Industrial (27.5% ABR), Office (61.8% ABR), and Other (10.7% ABR) segments. During the quarter, PKST sold four properties for approximately $40 million and declared a dividend of $0.225 per share.

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Peakstone Realty Trust (NYSE: PKST), a real estate investment trust specializing in high-quality, newer-vintage industrial and office properties, has announced the date for its third quarter 2024 earnings release. The company will disclose its financial results on Wednesday, October 30, 2024, after the market closes. Following the release, Peakstone will host a webcast at 5:00 p.m. Eastern Time to present the results.

Investors can access the webcast in listen-only mode by visiting the company's investor relations website at least ten minutes before the scheduled start time. For those unable to attend the live broadcast, a replay will be available on Peakstone's website shortly after the conclusion. Additionally, interested parties can access the presentation by phone using the provided domestic and international dial-in numbers.

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Peakstone Realty Trust (NYSE: PKST), a real estate investment trust, announced its financial results for Q2 2024. The company reported revenue of approximately $56.0 million and a net loss of $(3.8) million, or $(0.11) per share. AFFO stood at $0.70 per share, and Same Store Cash NOI saw a 1.7% increase to $44.2 million.

Key developments include a 304,600 sq. ft. lease extension, bringing the total leasing activity for the first half of 2024 to 546,000 sq. ft., and the sale of a property for $8.7 million. The company's portfolio was 96.3% leased, with a weighted average lease term of 6.6 years.

Financially, the company extended its credit facility, reducing borrowing costs and increasing flexibility. Key details include a $907 million unsecured credit facility and an average interest rate of 3.67%.

The Board approved a dividend of $0.225 per share for Q3, payable on October 17, 2024.

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Peakstone Realty Trust (NYSE: PKST) has successfully closed an amended and extended $907 million unsecured credit facility, demonstrating the strength of its balance sheet and high-quality portfolio. The facility includes a $547 million revolver and two term loans of $210 million and $150 million, with maturities extended to July 2028 for the revolver and larger term loan. The weighted average effective interest rate is 3.67%, inclusive of current floating to fixed SOFR interest rate swaps covering the entire outstanding balance of $750 million. CFO Javier Bitar emphasized that this amendment significantly extends the company's debt maturity profile and enhances financial flexibility, positioning Peakstone for future growth opportunities.

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Peakstone Realty Trust (NYSE: PKST), a REIT specializing in high-quality, newer-vintage industrial and office properties, has announced its schedule for the second quarter 2024 earnings release. The company will disclose its financial results after market close on Thursday, August 8, 2024, followed by a webcast presentation at 5:00 p.m. Eastern Time the same day.

Investors can access the webcast in listen-only mode through the company's investor relations website. For those preferring phone access, domestic callers can use 1-877-407-9716, while international callers should dial 1-201-493-6779. A replay of the webcast will be available on Peakstone's website shortly after the live broadcast concludes.

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Peakstone Realty Trust (PKST) reported its first-quarter 2024 results, highlighting revenue of approximately $59.2 million, net income of $5.5 million, and AFFO of $0.70 per share. The company completed 241,400 square feet of lease renewals with favorable spreads and sold four properties for $80 million. The portfolio consists of 67 properties, 96.3% leased, generating 64.6% of ABR from investment-grade tenants. PKST had $436 million in cash on hand and $160 million available under its revolving credit facility. The company paid a dividend of $0.225 per share and announced a webcast for the earnings release.

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Peakstone Realty Trust announces the date for its first quarter 2024 earnings release and webcast. The company will share its financial results on May 7, 2024, after the market closes, followed by a webcast presentation at 5:00 p.m. Eastern Time. Investors can access the webcast on the company's website or by phone using the provided dial-in numbers.
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Peakstone Realty Trust (PKST) schedules its 2024 annual meeting of shareholders on June 18, 2024. The record date is April 16, 2024, with a focus on its high-quality, newer-vintage portfolio of single-tenant industrial and office properties.
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Peakstone Realty Trust (PKST) announces property dispositions totaling $336 million, significant deleveraging of the balance sheet, and strong leasing activity. The company reported revenue of $254.3 million for full year 2023, with a net loss of $(557.9) million. The company improved its leverage ratio to 6.2x and ended the year with $392 million in cash on hand.
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FAQ

What is the current stock price of Peakstone Realty Trust (PKST)?

The current stock price of Peakstone Realty Trust (PKST) is $13.91 as of November 6, 2024.

What is the market cap of Peakstone Realty Trust (PKST)?

The market cap of Peakstone Realty Trust (PKST) is approximately 494.8M.

What type of properties does Peakstone Realty Trust own?

Peakstone Realty Trust owns predominantly single-tenant industrial and office properties.

How large is Peakstone Realty Trust's real estate portfolio?

Peakstone Realty Trust's portfolio spans approximately 19 million square feet across 24 states.

In which markets are Peakstone Realty Trust's properties located?

Peakstone's properties are primarily located in high-growth coastal and sunbelt markets.

Who are the tenants of Peakstone Realty Trust's properties?

The properties are leased to creditworthy tenants through long-term lease agreements.

How does Peakstone Realty Trust ensure financial stability?

The trust maintains a strong balance sheet and adopts a disciplined approach to capital allocation.

What recent developments have been undertaken by Peakstone Realty Trust?

Recent developments include acquisitions of prime industrial properties in Florida and Texas.

What is the focus of Peakstone Realty Trust's expansion strategy?

The focus is on expanding in economically robust regions to enhance asset desirability and returns.

How does Peakstone Realty Trust contribute to investor returns?

By targeting high-quality assets and securing long-term leases, the trust aims to deliver consistent returns.

What is Peakstone Realty Trust's approach to property management?

The trust is involved in development projects to enhance property value and functionality.

What is the ticker symbol for Peakstone Realty Trust?

The ticker symbol for Peakstone Realty Trust is PKST.

Peakstone Realty Trust

NYSE:PKST

PKST Rankings

PKST Stock Data

494.80M
36.38M
0.82%
42.07%
3.33%
REIT - Office
Real Estate Investment Trusts
Link
United States of America
El Segundo