Profile
Sector:
Real EstateIndustry:
OfficeCountry:
United StatesIPO:
14 April 2023Website:
http://www.griffincapital.comNext earnings report:
08 August 2024Last dividends:
28 June 2024Next dividends:
N/APrice
after hours | Tue, 16 Jul 2024 22:45:11 GMTAnalysts recommendations
Institutional Ownership
PKST Latest News
Peakstone Realty Trust (PKST) witnessed a jump in share price last session on above-average trading volume. The latest trend in FFO estimate revisions for the stock doesn't suggest further strength down the road.
Peakstone Realty Trust is a newly IPO'd REIT with a short track record, going public in 2023. Despite a decline in performance and share price, PKST is focusing on optimizing their portfolio towards industrial properties and strengthening their balance sheet. As a result of their near 50% share price decline, the 8.25% dividend yield may be an attractive opportunity for riskier investors.
Peakstone Realty Trust, a real estate investment trust specializing in single-tenant industrial and office properties, will be releasing its first quarter 2024 financial results on Tuesday, May 7, 2024 after the market closes. A webcast to present the results will be hosted at 5:00 p.m. Eastern Time on the same day. Access to the webcast will be available.
Peakstone Realty Trust (PKST) Q4 2023 Earnings Call Transcript
Navigating The Tides: Peakstone Realty Trust's Strategic Moves In A Challenging Market
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Peakstone Realty Trust (NYSE: PKST) (“Peakstone” or the “Company”), a real estate investment trust (REIT) focused on owning and operating a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties, announced it will release its fourth quarter and full year 2023 financial results after the market closes on Thursday, February 22, 2024. Peakstone will host a webcast to present the results on Thursday, February 22, 20.
Peakstone Realty Trust is paying out a 5.7% dividend yield that's 347% covered by AFFO from its most recent quarter. The REIT only went public last year and is up markedly from its listing price. Disposals of its single tenant office buildings are being closed at significant losses with the portfolio in a state of heavy flux.
Peakstone Realty Trust's heavy exposure to single-tenant office properties makes it a risky investment due to the potential costs of converting these spaces for multi-tenant use. PKST stock appears overvalued, with potential downside ranging from 27% to 67% depending on the assumed net asset value. The uncertain future demand for office space in a hybrid work environment and lack of positive catalysts for PKST make it an unattractive investment option.
What type of business is Peakstone Realty Trust?
Griffin Capital Essential Asset REIT, Inc. America's Blue-Chip Landlord is a self-managed, publicly registered, non-traded REIT with a portfolio consisting primarily of single-tenant, business essential office and industrial properties throughout the United States, diversified by corporate credit, physical geography, product type, and lease duration. GCEAR's portfolio as of September 30, 2020, consisted of 99 office and industrial properties (122 buildings), totaling 27.1 million rentable square feet, located in 25 states, representing a total enterprise value of approximately $4.5 billion.
What sector is Peakstone Realty Trust in?
Peakstone Realty Trust is in the Real Estate sector
What industry is Peakstone Realty Trust in?
Peakstone Realty Trust is in the Office industry
What country is Peakstone Realty Trust from?
Peakstone Realty Trust is headquartered in United States
When did Peakstone Realty Trust go public?
Peakstone Realty Trust initial public offering (IPO) was on 14 April 2023
What is Peakstone Realty Trust website?
https://www.griffincapital.com
Is Peakstone Realty Trust in the S&P 500?
No, Peakstone Realty Trust is not included in the S&P 500 index
Is Peakstone Realty Trust in the NASDAQ 100?
No, Peakstone Realty Trust is not included in the NASDAQ 100 index
Is Peakstone Realty Trust in the Dow Jones?
No, Peakstone Realty Trust is not included in the Dow Jones index
When was Peakstone Realty Trust the previous earnings report?
No data
When does Peakstone Realty Trust earnings report?
The next expected earnings date for Peakstone Realty Trust is 08 August 2024