A Business at a Glance
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Peakstone Realty Trust
PKST
$772M
Mkt Cap
Peakstone Realty Trust (PKST) has a 5-year average return on invested capital (ROIC) of -9.2%. This is below average and may indicate limited pricing power.
Peakstone Realty Trust (PKST) has a market capitalization of $767M. It is classified as a small-cap stock.
Yes, Peakstone Realty Trust (PKST) pays a dividend with a trailing twelve-month yield of 3.77%.
Peakstone Realty Trust (PKST) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
Peakstone Realty Trust (PKST) generated $68 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Peakstone Realty Trust (PKST) has a debt-to-equity ratio of 0.64. This indicates moderate leverage.
Peakstone Realty Trust (PKST) reported earnings per share (EPS) of $-8.37 in its most recent fiscal year.
The use herein of the words “PKST,” “the Company,” “Peakstone,” “we,” “us,” and “our” refer to Peakstone Realty Trust, a Maryland real estate investment trust, and its subsidiaries, including PKST OP L.P., our operating partnership (our “Operating Partnership”), except where the context otherwise requires. Peakstone Realty Trust (NYSE: PKST) is an industrial real estate investment trust (“REIT”), with a strategic focus on growth in the industrial outdoor storage (“IOS”) sector. PKST OP, L.P., our operating partnership (the “Operating Partnership”), owns, directly and indirectly all of the Company’s assets. As of December 31, 2025, the Company owned, directly and indirectly through a wholly-owned subsidiary, approximately 93.2% of the outstanding common units of limited partnership interest in the Operating Partnership (“OP Units”). As of December 31, 2025, our portfolio consisted of 76 industrial properties within one reportable segment (the “Industrial” segment).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | 116M | - | 416M | 460M |
| Net Income | -308M | -308M | -10M | -558M | -412M | 1.6M |
| EPS | $-8.37 | $-8.37 | $-0.30 | $-15.50 | $-11.41 | $0.04 |
| Free Cash Flow | 68M | 68M | 94M | 89M | 153M | 205M |
| ROIC | -18.4% | -25.2% | -0.4% | -21.9% | -1.0% | 2.5% |
| Gross Margin | - | - | - | - | 97.4% | 97.1% |
| Debt/Equity | 0.64 | 0.64 | 1.24 | 1.29 | 0.88 | 1.18 |
| Dividends/Share | $0.79 | $0.79 | $0.95 | $1.09 | $3.15 | $2.04 |
| Operating Income | -251M | -251M | -46M | -278M | -35M | 98M |
| Operating Margin | 0.0% | - | -39.2% | - | -8.5% | 21.3% |
| ROE | -41.3% | -33.6% | -1.0% | -39.9% | -21.5% | 0.1% |
| Shares Outstanding | 37M | 37M | 35M | 36M | 36M | 41M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 0 | 25M | 63M | 346M | 336M | 387M | 397M | 460M | 416M | N/A | 116M | N/A | 0 |
| Gross Margin | N/A | -87.7% | N/A | 87.3% | 86.6% | 93.5% | 96.2% | 97.1% | 97.4% | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 439K | 1.9M | 2.8M | 7.3M | 7.0M | 26M | 39M | 39M | 39M | 43M | 37M | 35M | 35M |
| EBIT | -439K | -12M | 4.3M | 82M | 78M | 78M | 73M | 98M | -35M | -278M | -46M | -251M | -251M |
| Op. Margin | N/A | -46.3% | 6.8% | 23.8% | 23.2% | 20.2% | 18.4% | 21.3% | -8.5% | N/A | -39.2% | N/A | 0.0% |
| Net Income | N/A | -17M | -6.1M | 141M | 18M | 25M | -13M | 1.6M | -412M | -558M | -10M | -308M | -308M |
| Net Margin | N/A | -68.6% | -9.7% | 40.6% | 5.2% | 6.4% | -3.3% | 0.4% | -98.9% | N/A | -9.0% | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 116M | 1.2M | 61M | 4.1M | -326K | -4.0M | 45M | 49M | 6.4M | 6.4M |
| Returns on Capital | |||||||||||||
| ROIC | N/A | -3.5% | 0.4% | 6.2% | 4.1% | 2.7% | 2.2% | 2.5% | -1.0% | -21.9% | -0.4% | -25.2% | -18.4% |
| ROE | N/A | -14.7% | -1.6% | 25.2% | 2.1% | 1.9% | -0.9% | 0.1% | -21.5% | -39.9% | -1.0% | -33.6% | -41.3% |
| ROA | N/A | -6.3% | -0.7% | 11.9% | 0.8% | 0.7% | -0.3% | 0.0% | -9.2% | -17.4% | -0.4% | -15.3% | -22.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 54K | -2.9M | 16M | 142M | 121M | 161M | 165M | 205M | 153M | 89M | 95M | 69M | 69M |
| Free Cash Flow | 54K | -2.9M | 16M | 141M | 121M | 161M | 148M | 205M | 153M | 89M | 94M | 68M | 68M |
| Owner Earnings | -9.9M | -15M | -11M | 25M | 1.7M | 4.8M | -625K | -12M | -48M | 16M | 51M | 26M | 26M |
| CapEx | 0 | 0 | 40K | 760K | 0 | 0 | 17M | 0 | 0 | 0 | 654K | 280K | 280K |
| Maint. CapEx | 0 | 12M | 28M | 117M | 119M | 153M | 161M | 210M | 191M | 61M | 36M | 36M | 36M |
| Growth CapEx | N/A | N/A | 0 | 0 | N/A | N/A | 0 | N/A | N/A | N/A | 0 | 0 | 0 |
| D&A | 0 | 12M | 28M | 117M | 119M | 153M | 161M | 210M | 191M | 61M | 36M | 36M | 36M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.7% | 0.4% | 0.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 7K | 2.6M | 12M | 71M | 72M | 90M | 72M | 83M | 114M | 41M | 33M | 29M | 29M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.2% | 7.7% | 6.4% | 3.8% |
| Share Buybacks | 0 | 0 | 1.6M | 99M | 84M | 200M | 108M | 26M | 5.6M | 4.4M | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.7% | N/A | N/A | 0.0% |
| Stock-Based Comp | 10M | 0 | 0 | 173K | 38K | 2.6M | 4.1M | 7.5M | 9.6M | 12M | 7.9M | 6.4M | 6.4M |
| Debt Repayment | 0 | 0 | 0 | 324K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.4M | 3.4M |
| Balance Sheet | |||||||||||||
| Net Debt | -6.2M | 380M | 737M | 804M | 1.3B | 1.9B | 2.0B | 2.4B | 1.3B | 1.0B | 1.1B | 197M | 335M |
| Cash & Equiv. | 6.2M | 18M | 49M | 33M | 48M | 55M | 169M | 169M | 233M | 392M | 147M | 139M | 139M |
| Long-Term Debt | 0 | 262M | 456M | 482M | 1.4B | 2.0B | 2.1B | 2.5B | 1.5B | 1.4B | 1.3B | 474M | 474M |
| Debt/Equity | 0.00 | 1.77 | 1.42 | 1.49 | 1.22 | 1.33 | 1.55 | 1.18 | 0.88 | 1.29 | 1.24 | 0.64 | 0.64 |
| Interest Coverage | -7.9 | -2.4 | 0.4 | 1.6 | 1.4 | 1.1 | 0.9 | 1.1 | -0.4 | -4.2 | -0.8 | -4.4 | -4.4 |
| Equity | 9.3M | 225M | 554M | 562M | 1.1B | 1.5B | 1.4B | 2.2B | 1.7B | 1.1B | 1.1B | 745M | 745M |
| Total Assets | 11M | 537M | 1.2B | 1.2B | 3.0B | 4.2B | 4.2B | 5.3B | 3.6B | 2.8B | 2.7B | 1.4B | 1.4B |
| Total Liabilities | 1.1M | 307M | 613M | 585M | 1.5B | 2.3B | 2.4B | 2.8B | 1.6B | 1.6B | 1.5B | 574M | 574M |
| Intangibles | 0 | 0 | N/A | 8.5M | 230M | 230M | 230M | 256M | 129M | 108M | 71M | 70M | 70M |
| Retained Earnings | -437K | -18M | -24M | -13M | 129M | 153M | 140M | 142M | -270M | -828M | -838M | -1.1B | -1.1B |
| Working Capital | N/A | N/A | -9.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -55M | -50M | -50M |
| Current Assets | N/A | N/A | 12M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.7M | 7.8M | 7.8M |
| Current Liabilities | 176K | 7.0M | 22M | 20M | 81M | 96M | 114M | 109M | 81M | 79M | 62M | 58M | 58M |
| Per Share Data | |||||||||||||
| EPS | -0.86 | -1.19 | -0.12 | 0.80 | 0.10 | 0.11 | -0.52 | 0.04 | -11.41 | -15.50 | -0.30 | -8.37 | -8.37 |
| Owner EPS | N/A | -1.03 | -0.23 | 0.33 | 0.01 | 0.02 | -0.00 | -0.30 | -1.32 | 0.44 | 1.47 | 0.71 | 0.71 |
| Book Value | N/A | 15.51 | 10.90 | 7.29 | 6.31 | 6.55 | 6.00 | 52.87 | 46.61 | 30.90 | 31.23 | 20.28 | 20.28 |
| Cash Flow/Share | N/A | -0.20 | 0.32 | 1.84 | 0.69 | 0.71 | 0.71 | 5.03 | 4.23 | 2.48 | 2.72 | 1.87 | -7.38 |
| Dividends/Share | N/A | 0.18 | 0.23 | 0.92 | 0.41 | 0.40 | 0.31 | 2.04 | 3.15 | 1.09 | 0.95 | 0.79 | 0.79 |
| Shares Out. | N/A | 14.5M | 50.9M | 77.2M | 176.2M | 225.3M | 230.3M | 40.7M | 36.1M | 36.0M | 34.8M | 36.8M | 36.8M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -2.5 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.5 | 3.8 | 7.7 | 11.2 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.6 | 0.3 | 0.7 | 1.0 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.7 | N/A | N/A |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 13.3% | 26.2% | 13.0% | 8.9% |
| Market Cap | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 668M | 358M | 528M | 767M |
| Avg. Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 18.15 | 12.41 | 12.37 | 20.85 |
| Year-End Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 18.57 | 10.32 | 14.36 | 20.85 |
Peakstone Realty Trust passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 11.3x vs a median of 7.5x. The company's 5-year average gross margin is 97.2%. Total shareholder yield (dividends) is 3.8%. At current prices, the estimated annualized return to fair value is +4.6%.
Peakstone Realty Trust (PKST) has a return on equity (ROE) of -33.6%. A negative ROE may indicate losses or negative equity.
Peakstone Realty Trust (PKST) has a 5-year average gross margin of 97.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for Peakstone Realty Trust (PKST), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Peakstone Realty Trust (PKST) has a book value per share of $20.28, based on its most recent annual SEC filing.