Peakstone Realty Trust (PKST) AI Stock Analysis

• Market Cap: $774.84M
• Dividend Yield: 5.44%
• Average Volume (3M): 896.96K
• Price to Earnings (P/E): 38.1
• Beta (1Y): 0.50
• Revenue Growth: -16.50%
• EPS Growth: -640.43%
• Country: US
• Employees: 38
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): -0.35
• Shares Outstanding: 37,180,294
• 10 Day Avg. Volume: 362,309
• 30 Day Avg. Volume: 896,957
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 4.98
• P/FCF Ratio: 7.68
• Enterprise Value/Market Cap: 1.53
• Enterprise Value/Revenue: 7.27
• Enterprise Value/Gross Profit: 10.63
• Enterprise Value/Ebitda: -6.84
• 1Y Price Target: $21.00
• Price Target Upside: 0.72% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.24
• Revenue Forecast (FY): $159.11M

• Rating: 61 Neutral
• Price Target: $22.00 ▲(5.52% Upside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is held back primarily by weak financial performance (sharp 2025 revenue decline, severe loss, and uneven cash flows). Offsetting this, the announced all-cash acquisition at $21.00 per share is a strong positive near-term catalyst, and technicals are bullish but overbought. Valuation is a modest drag due to the elevated P/E despite a moderate dividend yield.

Positive Factors

Business model: net-leased industrial portfolio

Peakstone’s core model centers on single-tenant net leases where tenants often bear property-level expenses, creating relatively predictable contractual rent streams. That structural cash-flow profile supports stable property-level income and makes cash flows more durable through lease terms and escalations.

Low financial leverage in 2025

Reporting zero total debt materially lowers balance-sheet risk and preserves financial flexibility. Lower leverage reduces refinancing and interest-rate exposure, improving ability to withstand operating volatility and making the company a cleaner acquisition target or more resilient operator over the medium term.

Definitive all-cash acquisition by Brookfield

The Brookfield all-cash deal is a structural outcome that crystallizes shareholder value and supplies committed equity and debt financing. Taking the REIT private ends public-market execution risk and provides capital certainty to complete portfolio repositioning and integration under a larger industrial platform.

Negative Factors

Sharp revenue decline and large 2025 loss

A near 50% revenue drop and a very large net loss signal meaningful operating deterioration and earnings volatility. Sustained revenue compression undermines rent coverage, reduces internal funding for capital needs, and raises execution risk on lease-up, re-leasing or acquisition strategies over coming quarters.

Weak and uneven cash generation

Operating and free cash flow at zero in 2025, combined with prior years of deficits, indicate inconsistent cash generation. For a REIT, unreliable cash flows constrain dividend capacity, limit reinvestment and acquisition funding, and heighten dependence on external capital over the medium term.

Persistently negative returns on equity

Repeated negative ROE reflects that shareholder capital has not produced positive returns, signaling weak asset returns or poor capital allocation. Persistent negative ROE impairs investor confidence and makes attracting future equity costly absent clear operational turnarounds or strategic change.

Peakstone Realty Trust Business Overview & Revenue Model

Company Description

Peakstone Realty Trust is an internally managed real estate investment trust that owns and operates a high-quality portfolio of predominantly single-tenant industrial and office properties across the United States. The company is executing a strategic transition to become an industrial-only REIT, with a particular focus on industrial outdoor storage assets in high-growth coastal and Sunbelt markets. Peakstone’s properties are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations, providing stable and predictable cash flows. The trust is headquartered in El Segundo, California, and positions itself as a specialist owner-operator of newer-vintage, well-located industrial real estate in strategic markets.

How the Company Makes Money

Peakstone Realty Trust primarily makes money by owning income-producing real estate and collecting contractual rent from tenants. Its core revenue stream is rental revenue generated under long-term net lease agreements, where tenants generally pay base rent and, depending on lease terms, may also be responsible for many property-level operating expenses such as property taxes, insurance, and maintenance—helping the REIT generate relatively predictable property-level cash flows. The company may also generate revenue (or affect earnings) through lease escalations (contractual rent increases over time), renewals and re-leasing activity when leases expire, and property acquisitions that add incremental rental income. In addition, PKST can realize gains (or losses) from the sale of properties as part of portfolio management. Like many REITs, its ability to grow earnings and cash flow can be influenced by access to capital (debt and/or equity financing) used to acquire properties, refinance existing debt, or fund other corporate purposes; however, specific significant partnerships or counterparties driving earnings are not available here and are therefore null.

Peakstone Realty Trust Financial Statement Overview

Summary

Fundamentals weakened materially: 2025 revenue fell ~46% and profitability swung to a very large net loss, with uneven cash-flow trends and a weak 2025 cash-flow reading. The balance sheet shows lower leverage (debt reported at zero), but returns on equity remain persistently negative.

Income Statement

Operating performance has deteriorated meaningfully. Revenue fell sharply in 2025 (down ~46% year over year), and profitability swung deeply negative with a very large net loss in 2025 (net margin roughly -290%). While 2024 showed solid gross and EBITDA margins, the company has been inconsistent over time with multiple years of sizable losses (notably 2022–2023), signaling earnings volatility and weaker stability.

Balance Sheet

Leverage improved materially in 2025 with total debt reported at zero and a lower asset base, which reduces balance-sheet risk versus prior years when debt-to-equity ran around ~0.85–1.49. However, equity also stepped down versus earlier periods and returns on equity have been persistently negative (very weak in 2025), indicating that despite lower leverage, shareholder capital has not been generating positive returns.

Cash Flow

Cash generation quality is mixed. In 2023–2024, operating cash flow was positive and covered reported net income well (operating cash flow running roughly ~1.9–2.2x net income), and free cash flow was positive. However, 2022 saw a very large free-cash-flow deficit, and 2025 shows operating cash flow and free cash flow reported at zero alongside a sharp decline in free cash flow growth, raising concerns about near-term cash generation and sustainability.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	105.98M	228.07M	254.28M	416.49M	459.87M
Gross Profit	-12.68M	184.35M	201.86M	323.22M	353.30M
EBITDA	40.10M	146.76M	-427.27M	-165.82M	306.30M
Net Income	-287.28M	-10.43M	-550.55M	-401.67M	11.50M
Balance Sheet
Total Assets	1.35B	2.68B	2.79B	3.63B	5.27B
Cash, Cash Equivalents and Short-Term Investments	138.67M	146.51M	391.80M	233.18M	168.62M
Total Debt	546.91M	1.44B	1.50B	1.53B	2.61B
Total Liabilities	574.12M	1.52B	1.59B	1.65B	2.77B
Stockholders Equity	745.42M	1.09B	1.11B	1.81B	2.28B
Cash Flow
Free Cash Flow	68.72M	94.66M	89.15M	-999.13M	181.49M
Operating Cash Flow	68.72M	94.66M	89.15M	152.68M	204.98M
Investing Cash Flow	834.10M	-215.84M	308.56M	1.10B	-62.81M
Financing Cash Flow	-910.59M	-125.62M	-234.64M	-1.20B	-159.34M

Peakstone Realty Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20.85
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PKST, the sentiment is Positive. The current price of 20.85 is above the 20-day moving average (MA) of 20.84, above the 50-day MA of 18.45, and above the 200-day MA of 14.68, indicating a bullish trend. The MACD of 0.52 indicates Positive momentum. The RSI at 82.30 is Negative, neither overbought nor oversold. The STOCH value of 68.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PKST.

Peakstone Realty Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FVR	71 Outperform	$455.17M	-76.15	-1.04%	5.74%	―	―
CTO	69 Neutral	$610.82M	58.86	1.78%	8.56%	23.84%	-312.04%
OLP	66 Neutral	$492.32M	16.62	8.41%	9.03%	7.71%	-5.37%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
MDV	63 Neutral	$149.19M	35.61	0.82%	8.15%	-0.59%	-160.22%
PKST	61 Neutral	$774.84M	38.05	-37.92%	5.44%	-16.50%	-640.43%
GOOD	55 Neutral	$586.00M	26.11	8.70%	11.56%	4.95%	-6.49%

Peakstone Realty Trust Corporate Events

Peakstone Realty Trust to Be Acquired by Brookfield

On February 2, 2026, Peakstone Realty Trust agreed to be acquired by a Brookfield Asset Management private real estate fund in an all-cash transaction valuing Peakstone at about $1.2 billion, with shareholders to receive $21.00 per share—representing premiums of 34%, 46% and 51% to the company’s closing price and 30- and 90-day VWAPs, respectively, as of January 30, 2026. The deal, unanimously approved by Peakstone’s board and expected to close by the end of the second quarter of 2026 subject to shareholder and customary approvals, includes a 30-day go-shop period running to March 4, 2026, a tiered termination-fee structure, committed equity and debt financing from Brookfield affiliates, suspension of Peakstone’s regular quarterly dividend during the merger process, and will result in Peakstone being taken private and delisted from the NYSE, underscoring Brookfield’s push to scale its industrial real estate platform and crystallizing the value of Peakstone’s recently streamlined industrial-only portfolio for existing investors.

The most recent analyst rating on (PKST) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Peakstone Realty Trust stock, see the PKST Stock Forecast page.