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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…
The business is unprofitable at the operating level (-13.38% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 8.9% YoY. The question is whether this is cyclical or a structural shift.
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
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 (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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