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Peakstone Realty Trust (PKST)
NYSE:PKST
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Peakstone Realty Trust
(NYSE:PKST)
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Rating:56Neutral
Price Target:
$13.50
▲(5.97% Upside)
Peakstone Realty Trust's overall stock score is driven by significant financial challenges, including declining revenues and high leverage. However, the strategic shift towards an industrial-only REIT and successful debt reduction are positive developments. Technical indicators are neutral, and valuation concerns persist due to negative earnings, despite a high dividend yield. The earnings call provided a positive outlook on strategic transformation and financial improvements.
Peakstone Realty Trust (PKST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$526.48M
Dividend Yield5.44%
Average Volume (3M)195.53K
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue Growth-16.50%
EPS Growth-640.43%
CountryUS
Employees38
SectorN/A
Sector StrengthN/A
IndustryREIT - Diversified
Share Statistics
EPS (TTM)-0.18
Shares Outstanding36,790,867
10 Day Avg. Volume204,142
30 Day Avg. Volume195,529
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)0.37
Price to Sales (P/S)1.77
P/FCF Ratio4.25
Enterprise Value/Market Cap2.40
Enterprise Value/Revenue6.48
Enterprise Value/Gross Profit7.72
Enterprise Value/Ebitda-8.54
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Peakstone Realty Trust Business Overview & Revenue Model
Company DescriptionPeakstone Realty Trust (PKST) is a real estate investment trust (REIT) focused on acquiring, owning, and managing a diversified portfolio of commercial properties. The company primarily invests in income-generating real estate assets, including retail, office, and industrial properties, targeting markets with strong fundamentals and growth potential. Peakstone Realty Trust aims to deliver attractive risk-adjusted returns to its shareholders through strategic property acquisitions and effective asset management.
How the Company Makes MoneyPeakstone Realty Trust generates revenue primarily through rental income from its portfolio of commercial properties. The company leases space to tenants, collecting rent that serves as the core revenue stream. Additionally, PKST may earn income from property management fees, leasing commissions, and other ancillary services provided to its tenants. The company's revenue model is supplemented by capital appreciation of its real estate assets, which can be realized through property sales or refinancing. Strategic partnerships with local real estate firms and developers may also enhance its market presence and lead to acquisition opportunities, further contributing to its earnings.
Peakstone Realty Trust Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 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.Q3-2025 Updates
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.
Successful Office Dispositions
As of October 31, 12 office properties were sold for approximately $363 million, reducing the portfolio to 12 remaining office properties. The company expects to complete the sale of a majority of these properties by the end of the year.
Strong Leasing Performance
The IOS operating portfolio reached 100% occupancy with weighted average re-leasing spreads of 116% on a cash basis and 120% on a GAAP basis. Notable transactions included an 8-year lease in Philadelphia and a 5.1-year lease in Houston.
Improved Financial Metrics
Total revenue from continuing operations was $25.8 million, net income attributable to common shareholders was $3.5 million or $0.09 per share, and same-store cash NOI increased by 3.7% compared to the same quarter last year.
Debt Reduction
Debt was reduced by approximately $450 million, improving total leverage to 5.4x on a pro forma basis. Subsequent to quarter end, an additional $240 million was paid down on the unsecured credit facility.
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.
Capital Expenditure for Improvements
Some IOS leases required landlord improvements, such as an 8-year lease in Philadelphia that will commence following the completion of landlord improvements.
Reporting Nuances
The 16 remaining office properties were classified as held for sale and reported as discontinued operations, which may complicate financial reporting and analysis.
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
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
55
Neutral
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Peakstone Realty Trust Technical Analysis
Positive
12.74
Price Trends
13.79
Positive
13.42
Positive
12.89
Positive
Market Momentum
0.16
Negative
54.61
Neutral
53.22
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 12.74 is below the 20-day moving average (MA) of 14.02, below the 50-day MA of 13.79, and below the 200-day MA of 12.89, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 54.61 is Neutral, neither overbought nor oversold. The STOCH value of 53.22 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
UnderperformOutperform
Sector (―)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | ― | ― | ― | ― | ― | ― | |
71 Outperform | $450.44M | 13.49 | 10.91% | 8.93% | 7.71% | -5.37% | |
69 Neutral | $584.97M | -13.75 | -5.80% | 8.58% | 23.84% | -312.04% | |
61 Neutral | $429.23M | -16.66 | -4.39% | 5.70% | ― | ― | |
60 Neutral | $527.30M | 58.59 | 5.96% | 11.20% | 4.95% | -6.49% | |
56 Neutral | $526.48M | -1.62 | -31.72% | 5.44% | -16.50% | -640.43% | |
54 Neutral | $151.86M | -53.40 | 0.37% | 8.10% | -0.59% | -160.22% |
* Sector Average
PKST
Peakstone Realty Trust
14.25
3.61
33.93%
CTO
CTO Realty Growth
17.72
-0.03
-0.17%
GOOD
Gladstone Commercial
10.64
-3.92
-26.92%
OLP
One Liberty Properties
20.15
-4.63
-18.68%
MDV
Modiv
14.43
0.35
2.49%
FVR
FrontView REIT, Inc.
15.10
-2.34
-13.42%
Peakstone Realty Trust Corporate Events
Peakstone Realty Trust’s Strategic Shift to Industrial Focus
Nov 6, 2025
Peakstone Realty Trust is a real estate investment trust focused on owning and operating industrial assets, with a strategic emphasis on industrial outdoor storage.
Business Operations and StrategyM&A Transactions
Peakstone Realty Trust Completes Property Sales for $177M
Positive
Sep 3, 2025
On September 3, 2025, Peakstone Realty Trust announced the completion of the sale of two office properties in Birmingham, AL and Greenwood Village, CO, along with one industrial property in Sparks Glencoe, MD, for approximately $177 million. This move is part of the company’s strategic shift towards becoming an industrial REIT, with industrial annualized base rent now representing over 50% of their total. The transactions have improved the company’s leverage, aligning it with their target level, and are seen as a step towards delivering growth and value for shareholders.
The most recent analyst rating on (PKST) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Peakstone Realty Trust stock, see the PKST Stock Forecast page.
Peakstone Realty Trust’s Earnings Call: Mixed Outlook Amid Strategic Shift
Aug 13, 2025
Peakstone Realty Trust’s recent earnings call painted a picture of strategic ambition tempered by financial challenges. The company is aggressively expanding its Industrial Outdoor Storage (IOS) platform, a move that underscores its growth potential. However, this optimism is counterbalanced by a substantial net loss attributed to office impairments and increased leverage, resulting in a mixed outlook for the future.
Peakstone Realty Trust’s Q2 2025: Industrial Focus
Aug 8, 2025
Peakstone Realty Trust is a real estate investment trust specializing in industrial assets, with a strategic focus on industrial outdoor storage. In its second quarter of 2025, Peakstone Realty Trust reported significant progress in its transition to an industrial REIT, emphasizing growth in the industrial outdoor storage sector and divesting office properties. The company achieved a revenue of $54 million, but faced a net loss of $286.8 million due to a substantial non-cash impairment related to office properties. Despite the loss, Peakstone reported a 6.3% increase in Same Store Cash Net Operating Income and made strategic acquisitions in the industrial segment. The company’s portfolio now consists of 94 properties, with industrial assets making up 65% of its net book value. Looking forward, Peakstone Realty Trust remains focused on scaling its industrial outdoor storage platform and generating long-term value for shareholders.
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.