Leasing PerformancePKST's office portfolio is 99% leased with a weighted average lease term of 6.2 years, which is inconsistent with the distressed valuation the market is applying.
Portfolio RepositioningPKST has sold more challenging office assets, significantly reducing risk, and is accelerating the sale of remaining suburban office assets.
Stock UpgradeThe analyst is upgrading PKST to Buy from Hold due to significant mispricing in the shares, especially concerning the suburban office portfolio.