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Mar 31, 2024
Peakstone Q1 2024 Earnings Report
Reported financial results for the quarter ended March 31, 2024, completed lease renewals, strengthened balance sheet, and enhanced portfolio composition.
Key Takeaways
Peakstone Realty Trust reported first quarter 2024 results with revenue of approximately $59.2 million and net income of approximately $5.5 million. The company sold four properties for approximately $80 million and closed the quarter with $436 million in cash on hand.
Revenue of approximately $59.2 million.
Net income of approximately $5.5 million; net income attributable to common shareholders of approximately $5.0 million, or $0.14 per basic and diluted share.
Same Store Cash Net Operating Income (“Same Store Cash NOI”) of approximately $44.8 million, a 0.7% increase compared to the same quarter last year.
Closed the quarter with $436 million in cash on hand and $160 million of available undrawn capacity under the revolving credit facility, for total liquidity of nearly $600 million.
Revenue by Segment
Forward Guidance
The Board of Trustees approved a dividend for the quarter ended June 30, 2024 in the amount of $0.225 per common share that is payable on July 18, 2024 to holders of record of the Company’s common shares on June 28, 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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