Peakstone Realty Trust (PKST)
NYSE:PKST
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Peakstone Realty Trust
(NYSE:PKST)
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Rating:61Neutral
Price Target:
$22.00
▲(5.36% Upside)
Action:ReiteratedDate: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.
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.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
Peakstone Realty Trust (PKST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$775.58M
Dividend Yield5.44%
Average Volume (3M)896.96K
Price to Earnings (P/E)38.1
Beta (1Y)0.46
Revenue Growth-16.50%
EPS Growth-640.43%
CountryUS
Employees38
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)-0.35
Shares Outstanding37,180,294
10 Day Avg. Volume362,309
30 Day Avg. Volume896,957
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.71
Price to Sales (P/S)4.98
P/FCF Ratio7.68
Enterprise Value/Market Cap1.53
Enterprise Value/Revenue7.27
Enterprise Value/Gross Profit10.64
Enterprise Value/Ebitda-6.84
Forecast
1Y Price Target
$21.00Price Target Upside0.57% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.24
Revenue Forecast (FY)$159.11M
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 strat...
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...
Peakstone Realty Trust Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong growth in the industrial portfolio, successful office dispositions, and improved financial metrics, which were met with ongoing challenges in fully exiting the office sector and managing capital expenditures for IOS improvements. The company demonstrated effective debt reduction and strategic transformation towards an industrial focus.Positive Updates
Industrial Portfolio Growth
Industrial assets now generate 60% of the company's ABR. The strategic transformation into an industrial-only REIT focused on growth in the industrial outdoor storage (IOS) sector continues to advance.
Negative Updates
Office Portfolio Challenges
The company still holds 12 remaining office properties and expects to complete sales by end of the year or early 2026. This indicates ongoing challenges in fully exiting the office sector.
Read all updates
Q3-2025 Updates
Positive
Negative
Industrial Portfolio Growth
Industrial assets now generate 60% of the company's ABR. The strategic transformation into an industrial-only REIT focused on growth in the industrial outdoor storage (IOS) sector continues to advance.
Read all positive updates
Company Guidance
During Peakstone Realty Trust's third quarter 2025 earnings call, the company reported significant progress in its strategic transition to an industrial-only REIT with a strong focus on the industrial outdoor storage (IOS) sector. As of October 31, 2025, the industrial portfolio accounted for over 60% of Peakstone's annualized base rent (ABR). The company executed new leases and renewals in its IOS portfolio, achieving weighted average re-leasing spreads of 116% on a cash basis and 120% on a GAAP basis. The IOS operating portfolio was fully leased, and recent transactions in Philadelphia, Houston, and Norcross, Georgia, contributed to these positive results. Peakstone also made three IOS acquisitions totaling approximately $58 million, expanding its footprint in Atlanta, Port Charlotte, and Fort Pierce. The company continued office property dispositions, having sold 12 office properties for approximately $363 million as of October 31, with expectations to complete the sale of the remaining 12 office properties by early 2026. Financially, Peakstone reported total revenue of $25.8 million from continuing operations, with funds from operations (FFO) of $18.3 million and a core FFO of $19.1 million for the quarter. Additionally, the company reduced its debt by approximately $450 million, improving its leverage ratio to 5.4x on a pro forma basis, and maintained liquidity of $438 million.Peakstone Realty Trust Financial Statement Overview
Summary
Income Statement
23
Negative
Balance Sheet
41
Neutral
Cash Flow
30
Negative
| 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
Positive
20.88
Price Trends
19.30
Positive
16.66
Positive
14.93
Positive
Market Momentum
0.35
Positive
82.41
Negative
61.67
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 20.88 is above the 20-day moving average (MA) of 20.84, above the 50-day MA of 19.30, and above the 200-day MA of 14.93, indicating a bullish trend. The MACD of 0.35 indicates Positive momentum. The RSI at 82.41 is Negative, neither overbought nor oversold. The STOCH value of 61.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PKST.
Peakstone Realty Trust Risk Analysis
Peakstone Realty Trust disclosed 68 risk factors in its most recent earnings report. Peakstone Realty Trust reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Peakstone Realty Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $428.78M | -76.15 | -1.04% | 5.74% | ― | ― | |
69 Neutral | $589.33M | 58.86 | 1.78% | 8.56% | 23.84% | -312.04% | |
66 Neutral | $467.67M | 16.62 | 8.41% | 9.03% | 7.71% | -5.37% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | $775.58M | 38.05 | -37.92% | 5.44% | -16.50% | -640.43% | |
55 Neutral | $145.71M | 86.21 | 0.17% | 8.15% | -0.59% | -160.22% | |
54 Neutral | $536.07M | 26.11 | 8.70% | 11.56% | 4.95% | -6.49% |
* Real Estate Sector Average
PKST
Peakstone Realty Trust
20.86
8.91
74.56%
CTO
CTO Realty Growth
18.10
0.36
2.02%
GOOD
Gladstone Commercial
10.99
-2.54
-18.75%
OLP
One Liberty Properties
21.44
-2.67
-11.07%
MDV
Modiv
14.12
-0.45
-3.08%
FVR
FrontView REIT, Inc.
15.27
3.01
24.55%
Peakstone Realty Trust Corporate Events
Business Operations and StrategyDelistings and Listing ChangesDividendsM&A Transactions
Peakstone Realty Trust to Be Acquired by Brookfield
Positive
Feb 2, 2026
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—rep...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.