Peakstone Realty Trust Advances Industrial Focus

Peakstone Realty Trust ( (PKST) ) has released its Q4 earnings. Here is a breakdown of the information Peakstone Realty Trust presented to its investors.

Peakstone Realty Trust is an internally managed real estate investment trust focusing on industrial properties, particularly in the industrial outdoor storage subsector, with a portfolio including industrial and office properties.

In its latest earnings report for the fourth quarter and full-year 2024, Peakstone Realty Trust highlighted its ongoing strategic shift towards industrial assets. The company has acquired a significant portfolio of industrial outdoor storage properties while divesting non-core assets, aligning with its strategic focus on this sector.

For the fourth quarter of 2024, Peakstone reported revenue of approximately $57.9 million and net income attributable to common shareholders of $12.7 million. The company achieved adjusted funds from operations (AFFO) of $0.65 per share and completed leasing activities with favorable releasing spreads. In total, 51 industrial outdoor storage properties were acquired for $490 million, and 19 properties were sold for around $317.4 million throughout the year.

Throughout 2024, Peakstone’s revenue reached approximately $228.1 million, although it reported a net loss attributable to common shareholders of $10.4 million. The industrial segment now comprises nearly 40% of the company’s portfolio, reflecting its strategic shift. The company’s leasing success continued, with over 837,400 square feet of leases completed at favorable terms, contributing significantly to its operational strength.

Looking ahead, Peakstone Realty Trust remains committed to refining its portfolio by continuing to divest non-core assets and focusing on industrial outdoor storage investments. The management is confident that these strategic decisions will foster long-term growth and create value for shareholders.