Peakstone Realty Trust (NYSE:PKST) Q3 2024 Results Conference Call October 30, 2024 5:00 PM ET Company Participants Mikayla Lynch - SVP, Corporate Finance & Strategy Mike Escalante - President & CEO Javier Bitar - CFO Conference Call Participants Farrell Granath - Bank of America Operator Good afternoon, and welcome to Peakstone Realty Trust's Third Quarter 2024 Earnings Webcast. All participant lines are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operat ...

Peakstone Realty Trust (PKST) came out with quarterly funds from operations (FFO) of $0.65 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to FFO of $0.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of -10.96%. A quarter ago, it was expected that this company would post FFO of $0.71 per share when it actually produced FFO of $0.70, delivering a surprise of -1.41%. Over the last four quarters, the ...

Table of Contents ________________________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common shares, $0.001 par value per share PKST New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterl ...

EXHIBIT 99.1 Peakstone Realty Trust Reports Third Quarter 2024 Results - Completed 147,400 square feet of Leasing at Significant Spreads - Multiple Sales Meaningfully reduced Other Segment (now approximately 10% of ABR) - Strong Foundation for Growth El Segundo, Calif. (October 30, 2024) - Peakstone Realty Trust (the "Company") (NYSE: PKST), a real estate investment trust that owns and operates a high-quality, newer-vintage portfolio of predominantly singletenant industrial and office properties, today anno ...

Investor Presentation Second Quarter 2024 Disclaimers / Forward-Looking Disclosure This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward looking statements ...

Peakstone Realty Trust (NYSE:PKST) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Mikayla Lynch - SVP, Corporate Finance & Strategy Michael Escalante - President & CEO Javier Bitar - CFO Conference Call Participants Farrell Granath - Bank of America Anthony Hau - Truist Securities Operator Greetings and welcome to Peakstone Realty Trust Second Quarter 2024 Earnings and Webcast Conference Call. At this time, all participants are in listen-only mode. A brief question-and-answe ...

Peakstone Realty Trust (PKST) came out with quarterly funds from operations (FFO) of $0.70 per share, missing the Zacks Consensus Estimate of $0.71 per share. This compares to FFO of $0.73 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of -1.41%. A quarter ago, it was expected that this company would post FFO of $0.79 per share when it actually produced FFO of $0.70, delivering a surprise of -11.39%. Over the last four quarters, the ...

Financial Performance - Rental income for Q2 2024 was $55,952,000, a decrease of 10.1% from $62,540,000 in Q2 2023[14] - Net loss attributable to common shareholders for Q2 2024 was $(3,768,000), compared to a net loss of $(416,477,000) in Q2 2023[14] - The company reported a net loss of $4,101 thousand for the three months ended June 30, 2024, compared to a net loss of $452,403 thousand for the same period in 2023[16] - Total comprehensive loss for the three months ended June 30, 2024, was $8,402 thousand, significantly higher than the comprehensive loss of $445,336 thousand in the prior year[16] - The accumulated deficit as of June 30, 2024, stood at $826,597 thousand, reflecting ongoing financial challenges[18] - The company reported a net gain from the sale of operating properties of $(9,120,000) for the six months ended June 30, 2024[21] - For the six months ended June 30, 2024, the company recorded net income of $1.4 million, a turnaround from a net loss of $(443.4) million for the same period in 2023, representing a 100% improvement[155] Assets and Liabilities - Total assets as of June 30, 2024, were $2,730,715,000, down from $2,789,625,000 as of December 31, 2023[12] - Total liabilities decreased to $1,544,124,000 as of June 30, 2024, from $1,585,912,000 at the end of 2023[12] - The company has a total shareholders' equity of $1,097,120,000 as of June 30, 2024, down from $1,112,084,000 at the end of 2023[12] - Cash and cash equivalents increased to $446,800,000 as of June 30, 2024, compared to $391,802,000 at the end of 2023[12] - The company had total interest rate swap assets valued at $22.71 million, down from $26.94 million as of December 31, 2023[70] Cash Flow and Investments - Net cash provided by operating activities increased to $40,728,000 for the six months ended June 30, 2024, from $24,765,000 in the prior year[21] - Net cash provided by investing activities was $67,870,000 for the six months ended June 30, 2024, compared to $289,155,000 in the same period of 2023[21] - Cash distributions to common shareholders amounted to $8,336 thousand for the three months ended June 30, 2024[18] - Cash, cash equivalents, and restricted cash at the end of the period totaled $461,296,000, up from $363,668,000 at the end of June 30, 2023[21] Real Estate and Portfolio - The company reported a total of 66 properties in its portfolio as of June 30, 2024, located across 22 states[26] - The Company’s wholly-owned portfolio had a total of 66 properties, with an overall percentage leased of 96.3% as of June 30, 2024[128] - The total gross investment in real estate was $2,563.7 million, a decrease from $2,610.1 million as of December 31, 2023, representing a decline of approximately 1.8%[41] - The Company recognized an impairment provision of $7,881,000 for real estate and $4,594,000 for goodwill during the six months ended June 30, 2024[21] Debt and Financing - The Company's total consolidated debt as of June 30, 2024, was $1.414 billion, a decrease from $1.442 billion as of December 31, 2023[60] - The Company has a $750.0 million senior unsecured revolving credit facility, of which $400.0 million has been drawn, maturing on January 31, 2026[64] - The effective interest rate for the Company's unsecured debt was 7.11% as of June 30, 2024[61] - The 2025 Term Loan was reduced from $400.0 million to $210.0 million, with a maturity extension to July 25, 2028[182] Shareholder Information - The weighted-average number of common shares outstanding for Q2 2024 was 36,349,950, compared to 35,922,706 in Q2 2023[14] - The company declared a cash dividend of $0.225 per common share and per OP Unit for the three months ended June 30, 2024[190] - Noncontrolling interests represented approximately 8.2% of total shares outstanding as of June 30, 2024, with limited partners owning about 3.2 million OP Units[93] Operational Metrics - Total net operating income (NOI) for the three months ended June 30, 2024, was $45.422 million, a decrease from $49.646 million for the same period in 2023, representing a decline of approximately 4.5%[115] - The Industrial segment reported NOI of $12.854 million for the three months ended June 30, 2024, compared to $12.320 million for the same period in 2023, an increase of approximately 4.3%[115] - The Office segment's total revenues decreased to $32.991 million for the three months ended June 30, 2024, from $34.999 million in the same period of 2023, a decline of approximately 5.7%[115] Market Conditions and Risks - The company continues to face risks related to market volatility, interest rates, and potential economic recession, which may impact future performance[5] - The real estate market is experiencing steady demand, with low vacancy rates and a shift towards modern office spaces that attract tenants[138]

EXHIBIT 99.1 1 Peakstone Realty Trust Reports Second Quarter 2024 Results - Successfully Extended Credit Facility - Completed 546,000 Square Feet of Leasing During the First Half of 2024 El Segundo, Calif. (August 8, 2024) - Peakstone Realty Trust (the "Company") (NYSE: PKST), a real estate investment trust that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties, today announced its financial results for the quarter ended June 30, 2024. ...

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Peakstone Realty Trust (PKST) shares ended the last trading session 5.8% higher at $14.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.7% gain over the past four weeks. The increased investor optimism in the stock can be attributed to the favorable operating environment. Wh ...