Investor Presentation Second Quarter 2024 Disclaimers / Forward-Looking Disclosure This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward looking statements ...

Peakstone Realty Trust (NYSE:PKST) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Mikayla Lynch - SVP, Corporate Finance & Strategy Michael Escalante - President & CEO Javier Bitar - CFO Conference Call Participants Farrell Granath - Bank of America Anthony Hau - Truist Securities Operator Greetings and welcome to Peakstone Realty Trust Second Quarter 2024 Earnings and Webcast Conference Call. At this time, all participants are in listen-only mode. A brief question-and-answe ...

Peakstone Realty Trust (PKST) came out with quarterly funds from operations (FFO) of $0.70 per share, missing the Zacks Consensus Estimate of $0.71 per share. This compares to FFO of $0.73 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of -1.41%. A quarter ago, it was expected that this company would post FFO of $0.79 per share when it actually produced FFO of $0.70, delivering a surprise of -11.39%. Over the last four quarters, the ...

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Peakstone Realty Trust (PKST) shares ended the last trading session 5.8% higher at $14.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.7% gain over the past four weeks. The increased investor optimism in the stock can be attributed to the favorable operating environment. Wh ...

Introduction As an investor with a significant portion of their portfolio invested in REITs, I'm always on the lookout for potential new ones in the sector. During my research, I stumbled across Peakstone Realty Trust, an internally-managed REIT that operates in 3 segments: Industrial, Office, and Other. The REIT has a short track record, having IPO'd in April of last year. They are also relatively small with only 67 properties across 22 states. Seeking Alpha I won't go too much in depth, as I mentioned pre ...

Peakstone Realty Trust (PKST) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the ...

Financial Data and Key Metrics Changes - Total revenue for the quarter was $59.2 million, with NOI at $47.6 million and net income attributable to common shareholders approximately $5 million or $0.14 per share, which included two non-cash impairments totaling $6 million [16][31][32] - FFO was approximately $21.2 million or $0.54 per share on a fully diluted basis, while AFFO was approximately $27.8 million or $0.70 per share [31] - Net debt was approximately $985 million, a reduction of $65 million compared to year-end 2023, improving net debt to gross real estate from 40.2% to 38.2% [32] Business Line Data and Key Metrics Changes - The Other segment now accounts for only 13% of the company's ABR, down from previous levels due to effective dispositions [26] - The Industrial and Office segments have a combined WALT of 7.3 years, with minimal near-term rollover of less than 5% over the next three years [12][20] - Lease extensions secured during the quarter totaled approximately 241,000 square feet with strong GAAP and cash re-leasing spreads of 27% and 13%, respectively [13] Market Data and Key Metrics Changes - The company reported a positive outlook on the industrial market, expecting to capture past and future rent growth, which translates to strong re-leasing spreads [45] - The weighted average cap rate for stabilized assets is now 7.8%, slightly up from 7.6% [38] Company Strategy and Development Direction - The company is focused on bolstering its balance sheet and optimizing its portfolio to align with long-term growth objectives [11] - There is an ongoing strategy to eliminate the Other segment through effective disposition and leasing strategies [26] - The company believes that not all office portfolios are created equal, emphasizing the stability provided by their limited near-term rollover and the relatively young age of their assets [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the evolving market and maximizing shareholder value [46] - The company highlighted the importance of its experienced team in driving successful dispositions and leasing activities [4][8] Other Important Information - As of March 31, 2024, the company had $436 million in cash, with total liquidity nearing $600 million [17] - The company paid a dividend of $0.225 per common share on April 18, with future dividend decisions to be made by the Board of Trustees [19] Q&A Session Summary Question: Can you provide more details on the rent abatement in the Industrial portfolio? - Management clarified that the rent abatement occurred in the 11th year of a lease for one of their industrial properties [48] Question: What are the cap rates on dispositions that closed last quarter? - The weighted average cap rate for stabilized assets is now 7.8%, up from 7.6% [38] Question: How does the company view the split between investment-grade and sub-investment-grade assets? - The company noted that their Industrial and Office segments are just under 70% combined investment-grade, while the Other segment is only 42% investment-grade [50]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ____________________________________________________ Peakstone Realty Trust (Exact name of Registrant as specified in its charter) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Maryland 46-4654479 (State or other jurisdiction of incorporation or organization) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...

EXHIBIT 99.1 Peakstone Realty Trust Reports First Quarter 2024 Results - Completed 241,400 Square Feet of Lease Renewals at Favorable Releasing Spreads - Strengthened Balance Sheet and Enhanced the Composition of the Portfolio El Segundo, Calif. (May 7, 2024) - Peakstone Realty Trust ("PKST" or the "Company") (NYSE: PKST), a real estate investment trust that owns and operates a high-quality, newer-vintage portfolio of predominantly single- tenant industrial and office properties, today announced its financi ...

Financial Data and Key Metrics Changes - The company reported total revenue of $63.1 million and NOI of $50.3 million for the quarter, which included approximately $1 million from lease termination fees [3] - The net loss attributable to common shareholders was approximately $19.9 million or $0.55 per share, which included two non-cash impairments [3] - Same-store cash NOI increased by approximately 4.5% year-over-year to $48.2 million [23] - For the full year 2023, AFFO was approximately $118.1 million or $2.99 per share on a fully diluted basis, with a same-store cash NOI increase of 3.6% compared to the prior year [49] Business Line Data and Key Metrics Changes - The company executed four leases totaling over 1 million square feet during the quarter, achieving weighted average GAAP and cash re-leasing spreads of 26% and 9%, respectively [19] - The industrial segment saw a significant lease extension with TransDigm, resulting in a 91% GAAP and 50% cash re-leasing spread [30] - The office segment completed a new 7.7-year lease with Spectrum, which includes a 2.4% annual rent escalation [30] Market Data and Key Metrics Changes - The company ended the year with a portfolio that is 96.4% leased and a weighted average lease term (WALT) of 6.5 years [19] - The company has approximately $392 million in cash and $159 million of available undrawn capacity on its revolver, totaling approximately $551 million in liquidity [33] Company Strategy and Development Direction - The company is focused on evolving its portfolio towards the industrial segment, which is believed to have favorable growth prospects, while moving away from the office segment [41] - The management emphasized the importance of high-quality assets and expertise in positioning the portfolio for growth and maximizing shareholder value [5] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook on the industrial market, indicating that the portfolio is well-positioned to capture past and future rent growth [5] - The company is actively monitoring the market for acquisition opportunities while maintaining a strong cash position for flexibility [54][55] Other Important Information - The company sold 11 properties for gross proceeds of $336 million during the year, with an average cash cap rate of 7.6% for stabilized assets [47] - The company has no significant debt maturities until the end of 2025, with approximately 86% of total outstanding debt at fixed rates [4][24] Q&A Session Summary Question: What are the thoughts on the 2024 lease maturities in the other segment? - Management is actively engaged with properties in the other segment and has an agreement with AIG to facilitate the sale of properties associated with AIG loans [26][37] Question: What is the appetite for office assets currently? - Management noted that the market is becoming more dependent on the ability to obtain credit, and they are opportunistically selling properties that do not align with the go-forward plan [38] Question: Is there a target leverage metric before considering acquisitions? - The company is focused on strengthening its balance sheet and will weigh options over time, with a strategy to evolve towards the industrial segment [41][55] Question: Can you provide details on the upcoming expiration of the Tech Data Corp lease in San Antonio? - Management expressed satisfaction with tenant relationships and highlighted the proactive approach taken to meet tenant needs [43] Question: What was the termination income associated with the sale in Tyler, Texas? - The property was sold for a combined total of $21.4 million, which included lease termination fees [45]