Added to YB: 2024-06-04
Pitch date: 2024-05-24
PKST [bullish]
Peakstone Realty Trust
+26.04%
current return
Author Info
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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
$11.47
Price Target
23.42 (+62%)
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: Distressed office REIT at $13, believe worth mid-$20s. Office in turmoil but new supply halted & old converted to resi/industrial. PKST has 7.6yr WALT (5% expiring thru 2026), quality assets, 50%+ Sunbelt. Industrial 30%+ of EBITDA at 20x multiple. Upside as office stabilizes.
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