Overview

* Peakstone Realty TrustQ2 revenue of $54 mln beats analyst expectations

* Net loss of $286.8 mln due to $286.1 mln office property impairment

* Same Store Cash NOI rises 6.3% yr/yr, driven by industrial segment growth

Outlook

* Company plans to accelerate office property sales

* Peakstone Realty Trust ( PKST ) focuses on IOS growth through acquisitions

Result Drivers

* IOS EXPANSION - Co expanded IOS footprint with two acquisitions totaling $52.4 mln, per CEO Michael Escalante

* OFFICE SALES - Sold $182 mln in office properties, contributing to leverage reduction to 6.6x

* SAME STORE NOI - Industrial segment Same Store Cash NOI increased by 9.3% yr/yr

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $54 mln $53.90

Revenue mln (3

Analysts

)

Q2 EPS -$7.22

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "hold"

* Wall Street's median 12-month price target for Peakstone Realty Trust ( PKST ) is $15.00, about 6.9% above its August 6 closing price of $13.97

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)