Peakstone Realty Trust reports Q1 AFFO 70c, consensus 79c

Reports Q1 revenue $59.23M, consensus $62.45M. “As we mark our first-year anniversary as a listed company, we are proud to reaffirm our commitment to execute on our strategic plan aimed at bolstering our balance sheet and optimizing our portfolio to further align with our long-term growth objectives,” said Michael Escalante, CEO. “To this end, during the first quarter, we progressed the elimination of our Other segment by closing on the sale of three assets in this segment and securing several lease extensions with strong releasing spreads which sets the stage for successful sales of these assets. In the evolving market, this disposition and leasing activity demonstrates the strength of our team and its ability to enhance the value of our portfolio. We remain committed to positioning the Company for sustained success and value creation in the years ahead.”