NYSE$PKST
Peakstone Realty Trust · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Announced financial results for the quarter ended June 30, 2024, successfully extended credit facility, and completed 546,000 square feet of leasing during the first half of 2024.
Peakstone Realty Trust reported revenue of approximately $56.0 million and a net loss of approximately $(4.1) million for the second quarter of 2024. The company successfully amended its credit facility, extending debt maturities and lowering borrowing costs, providing a solid foundation for growth. Same Store Cash NOI increased by 1.7% compared to the same quarter last year.
- Revenue of approximately $56.0 million.
- Net loss of approximately $(4.1) million; net loss attributable to common shareholders of approximately $(3.8) million, or $(0.11) per basic and diluted share.
- Same Store Cash Net Operating Income (“Same Store Cash NOI”) of approximately $44.2 million, a 1.7% increase compared to the same quarter last year.
- Successfully amended credit facility subsequent to quarter-end, extending debt maturities and lowering borrowing costs.
Headline financials
Revenue & EPS history
Peakstone · Revenue · Quarterly
$56M
Revenue by segment
Peakstone · $8.3M total across 1 segment · Q3 2023
- Other NOI$8.3M—100.0%
Forward guidance
The Company improved its financial flexibility and solidified its long-term debt profile by amending and extending its credit facility.
Tailwinds
- Extended maturity of revolving credit facility to January 31, 2026.
- Extended maturity of $547 million revolver to July 2028 as part of credit facility amendment.
- Extended maturity of $210 million term loan to July 2028 as part of credit facility amendment.
- Weighted average effective interest rate of 3.67% inclusive of current $750 million floating to fixed SOFR interest rate swaps maturing on July 1, 2025.
- Fixed Rate Debt (%) 100%
Headwinds
- There are no negatives in the provided text.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
-0.0%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+1.3%
Avg return
30 days after
29%
6 / 21 earnings
Positive
+9.9%
Q1 2023
Best reaction
-12.5%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q3 2025 | -1.3% | -6.1% | -1.0% | |
| Q2 2025 | -12.5% | -10.6% | -1.7% | |
| Q1 2025 | +4.1% | +8.7% | +15.1% | |
| Q4 2024 | -2.3% | +2.4% | +23.5% | |
| Q3 2024 | +0.8% | +0.5% | +5.5% | |
| Q2 2024 | +2.7% | +1.1% | +17.3% | |
| Q1 2024 | -6.0% | +3.9% | -15.0% | |
| Q4 2023 | +2.9% | +4.1% | +17.9% | |
| Q3 2023 | +3.4% | +9.8% | +28.8% | |
| Q2 2023 | -2.5% | -3.9% | -14.3% | |
| Q1 2023 | +9.9% | +10.9% | +55.0% | |
| Q2 2022 | +0.0% | +0.0% | -53.7% | |
| Q4 2022 | +0.0% | +0.0% | -53.7% | |
| Q3 2022 | +0.0% | +0.0% | +0.0% | |
| Q1 2022 | +0.0% | +0.0% | -1.7% | |
| Q2 2021 | +0.0% | +0.0% | +0.0% | |
| Q4 2021 | +0.0% | +0.0% | +15.2% | |
| Q3 2021 | +0.0% | +0.0% | -9.0% | |
| Q1 2021 | +0.0% | +0.0% | -1.1% | |
| Q4 2020 | +0.0% | +0.0% | +0.0% | |
| Q2 2020 | +0.0% | +0.0% | +0.0% | |
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