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Jun 30, 2023
Peakstone Q2 2023 Earnings Report
Peakstone Realty Trust reported second quarter results, selling five properties for $130.8 million and increasing year-to-date sales to over $300 million, while continuing deleveraging of balance sheet.
Key Takeaways
Peakstone Realty Trust reported a revenue of $62.5 million for the second quarter of 2023. The company experienced a net loss of $(452.4) million, primarily due to non-cash impairments, property dispositions, and non-recurring expenses. Despite the net loss, the company's portfolio occupancy increased to 96%, and it continued to execute its disposition and deleveraging strategy.
Revenue was approximately $62.5 million.
Net loss was approximately $(452.4) million, or $(11.59) per basic and diluted share, impacted by non-cash impairments, property dispositions, and non-recurring expenses.
Adjusted Funds from Operation (AFFO) was $0.73 per basic and diluted share/unit.
Portfolio occupancy increased to 96% based on rentable square feet.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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