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Peakstone Realty Trust (PKST)
NYSE:PKST
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Earnings Data
Report Date
Mar 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.16Last Year’s EPS
-0.55Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 13, 2020
|% Change Since: -16.81%
|Next Earnings Date:May 22, 2019
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with significant achievements such as the successful amendment of the credit facility and strong leasing activity, particularly in the industrial segment. However, these positives were tempered by a reported net loss and challenges in asset sales timing. The sentiment reflects both progress in strategic initiatives and ongoing financial challenges.Company Guidance
During Peakstone Realty Trust's Q3 2024 earnings call, the company provided significant guidance on its strategic direction and financial metrics. Michael Escalante, the CEO, highlighted the successful amendment of the unsecured credit facility, which extended debt maturities and reduced borrowing costs, thus establishing a sustainable capital structure. The industrial segment showed robust performance with a Weighted Average Lease Term (WALT) of 6.3 years, 100% economic occupancy, and a 24% potential mark-to-market opportunity. The office segment, with a WALT of 7.2 years, maintained 99% economic occupancy and minimal near-term rollover, with only 4% of Annual Base Rent (ABR) expiring through 2026. The company completed the sale of four properties, realizing $40 million, and continued strong leasing activities, including a notable 10-year lease extension with a 41% GAAP and 20% cash re-leasing spread. Financially, the company reported total revenue of approximately $55 million, NOI of $44 million, and a net loss of $24.4 million, impacted by a $43 million noncash impairment. With $399 million in total liquidity and a net debt to normalized EBITDAre ratio of 6.2x, Peakstone is poised for future growth, particularly in the industrial real estate market.Successful Credit Facility Amendment
Successfully amended and extended the credit facility, lowering borrowing costs and extending debt maturities, resulting in a sustainable capital structure for future growth.
Strong Leasing Activity
Executed a 10-year lease extension in the Industrial segment with a 41% GAAP and 20% cash re-leasing spread and increased rent escalations from 1.75% to 3% annually.
Reduced Debt and Increased Liquidity
Reduced total debt by $231 million quarter-over-quarter, with a cash balance of $242 million and total liquidity of $399 million.
Positive Industrial Leasing Outlook
Optimistic about the industrial sector with longer-term favorable tailwinds anticipated, despite minor short-term headwinds.
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PKST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PKST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $12.97 | $12.85 | -0.93% |
| Aug 08, 2024 | $11.76 | $11.56 | -1.70% |
| May 07, 2024 | $12.96 | $12.68 | -2.16% |
| Feb 22, 2024 | $12.80 | $13.16 | +2.81% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Peakstone Realty Trust (PKST) report earnings?
Peakstone Realty Trust (PKST) is schdueled to report earning on Mar 20, 2025, TBA Not Confirmed.
What is Peakstone Realty Trust (PKST) earnings time?
Peakstone Realty Trust (PKST) earnings time is at Mar 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PKST EPS forecast?
PKST EPS forecast for the fiscal quarter 2024 (Q4) is -0.16.
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