NYSE$PKST
Peakstone Realty Trust · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended September 30, 2023.
Peakstone Realty Trust reported a revenue of $61.7 million for Q3 2023. The company experienced a net loss of $(139.9) million, primarily due to a non-cash impairment of the office joint venture interest. Despite the net loss, the company is focused on deleveraging its balance sheet and has increased liquidity to over half a billion dollars.
- Revenue was approximately $61.7 million.
- Net loss was approximately $(139.9) million, impacted by a non-cash impairment of the office joint venture interest.
- Adjusted Funds from Operation (AFFO) was $0.78 per basic and diluted share/unit.
- Same Store Cash Net Operating Income increased to approximately $48.1 million.
Headline financials
Revenue & EPS history
Peakstone · Revenue · Quarterly
$61.7M
Revenue by segment
Peakstone · $8.3M total across 1 segment · Q3 2023
- Other NOI$8.3M—100.0%
Forward guidance
Peakstone Realty Trust is focused on executing its business plan and reducing leverage to achieve an investment-grade balance sheet despite the challenging macroeconomic environment.
Tailwinds
- Resilient cash flows.
- Disposition of non-core assets to reduce leverage.
- Improved 'Other' segment through property disposition and lease renewals.
- Well-positioned to continue business plan execution.
- Increased liquidity to over half a billion dollars.
Headwinds
- Challenging macroeconomic environment.
- Net loss due to non-cash impairment.
- Decrease in revenue resulting from property dispositions.
- Net loss from the interest in the office joint venture in the quarter
- There is no guarantee that the company will achieve an investment grade balance sheet
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 Q3 2023
-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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