Peakstone Realty Trust reports Q3 FFO 48c, consensus 55c

Reports Q3 revenue $51.0M, one estimate $51.6M. “During and subsequent to the quarter, we continued to execute on our strategy to transform Peakstone into an industrial-only REIT focused on growth in the industrial outdoor storage sector,” said Michael Escalante, Peakstone’s Chief Executive Officer. “We delivered strong IOS leasing results and redeployed sales proceeds toward both IOS investments and debt reduction. We ended the quarter at 5.4x net debt to Adjusted EBITDAre, with ample liquidity and a strong pipeline of IOS opportunities. We are confident in our strategy and our ability to continue executing and creating value for shareholders.”