Professional
Added to YB: 2024-09-09
Pitch date: 2024-09-06
PKST [bullish]
Peakstone Realty Trust
+13.9%
current return
Author Info
Alluvial Capital is an investment manager with a focus on overlooked and obscure securities around the world. Sign up for the newsletter.
Company Info
Peakstone Realty Trust (“PKST” or the “Company”) is a real estate investment trust executing a strategic transition to become an industrial-only REIT, targeting growth in the industrial outdoor storage (“IOS”) sector.
Market Cap
$505.5M
Pitch Price
$12.70
Price Target
25.00 (+73%)
Dividend
2.91%
EV/EBITDA
8.53
P/E
-137.45
EV/Sales
5.69
Sector
Office REITs
Category
value
Peakstone Realty Trust - $PKST
PKST: 96.3% occupied REIT, 13.1% cap rate. $25 PT vs $12.50. Industrial assets underpriced, office portfolio resilient. 22% FCF yield. Selling non-core assets, shifting to industrial. Risks: high office exposure, high overhead. Catalysts: office recovery, asset sales, institutional interest.
Read full article (8 min)