Welcome to our dedicated page for Peakstone Realty news (Ticker: PKST), a resource for investors and traders seeking the latest updates and insights on Peakstone Realty 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.
Peakstone Realty Trust (NYSE: PKST) reported its financial results for Q4 and the full year 2024. The company continued its strategic shift towards industrial assets, with industrial ABR now nearly 40% of total ABR. Key highlights include the acquisition of a $490 million industrial outdoor storage (IOS) portfolio and the divestment of $317 million in non-core assets.
For Q4 2024, Peakstone reported revenue of $57.9 million, net income attributable to common shareholders of $12.7 million ($0.35 per share), and AFFO of $0.65 per share. Same Store Cash NOI was $39.0 million. The company completed 144,100 square feet of leasing at favorable releasing spreads.
For the full year 2024, revenue was $228.1 million, with a net loss attributable to common shareholders of $10.4 million ($0.30 per share), and AFFO of $2.69 per share. Same Store Cash NOI was $154.9 million. Peakstone sold 19 properties for $317.4 million and increased its industrial segment to 39.1% of portfolio ABR.
Moving forward, Peakstone plans to continue divesting non-core assets while focusing on IOS properties. Despite increased debt from the IOS acquisition, the company aims to reduce leverage strategically.
Peakstone Realty Trust (NYSE: PKST), an industrial assets-focused REIT, has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 20, 2025, after market close. The company will host a webcast presentation of the results at 5:00 p.m. Eastern Time on the same day.
Investors can access the listen-only webcast through the company's investor relations website at https://investors.pkst.com/investors/events-and-presentations. Participants are advised to register and install necessary software at least ten minutes before the start time. A replay will be available on the company's website after the broadcast. For phone access, domestic callers can dial 1-877-407-9716, while international callers should use 1-201-493-6779.
Peakstone Realty Trust (NYSE: PKST), an industrial assets-focused REIT, has disclosed the tax treatment of its 2024 distributions for common shares. The company will distribute a total of $0.900 per share throughout 2024, paid in four quarterly installments of $0.225 each.
The distributions are scheduled for January 17, April 18, July 18, and October 17, 2024. According to the Form 1099-DIV breakdown, all distributions are classified as nondividend distributions (Box 3), with no amounts allocated to ordinary income or capital gains.
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.
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.
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.
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.
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.
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.
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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