Peakstone Realty Trust

PKST

Peakstone Realty Trust

PKST/Real Estate Investment Trusts/MD

The use herein of the words PKST, the Company, Peakstone, we, us, and our refer to Peakstone Realty Trust, a Maryland real estate investment trust, and its subsidiaries, including PKST OP L.P., our operating partnership (our Operating Partnership ), except where the context otherwise requires. Overview Peakstone Realty Trust (NYSE: PKST) is an industrial real estate investment trust ( REIT ), w…

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ProfitabilityUnprofitable GrowthDeclining Cash FlowStrong conversion ValuationN/A

What stands out

The business is unprofitable at the operating level (-13.38% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.

What's changing

Revenue declined 8.9% YoY. The question is whether this is cyclical or a structural shift.

What deserves caution

Free cash flow declined 27% versus the prior year, cash generation momentum has weakened. Net debt of $337M represents 4.9x FCF, leverage limits flexibility.

Profitability & Returns

TTM as of 2026-03 · YoY vs prior year · ROIC = NOPAT / invested capital

Revenue (TTM)

$103M

▼ -8.9% YoY

Net Income (TTM)

-$272M

▼ -2851.6% YoY

Op. Margin

-2.12%

▲ +25.8pp YoY

ROIC

-0.11%

▲ +0.8pp YoY

Cash Flow & Balance Sheet

FCF = operating cash flow + capex · Net debt = total debt − cash · Balance sheet from latest filing

FCF (TTM)

$39M

▼ -27.4% YoY

Op. Cash Flow (TTM)

$39M

▼ -27.4% YoY

Net Debt

$371M

Cash & Equiv.

$110M

5Y CAGR: -23.2%

5Y CAGR: -16.0%

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Quality Scorecard

Is this a high-quality business?

Dividends

Payout safety and growth

DCF Valuation

What is it worth?

Financials

Full income, cash flow, balance sheet

SourceComputed from the 10-Q filed 1 May 2026, covering the period ending 31 Mar 2026, as reported to the SEC. Data last refreshed 3 Oct 2026. How this is calculated.

Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.

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Spot a number that looks wrong? Check it in PKST's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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