Professional
Added to YB: 2024-09-09
Pitch date: 2024-09-06
PKST [bullish]
Peakstone Realty Trust
+64.67%
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 Trustis a real estate investment trust executing a strategic transition to become an industrial-only REIT, targeting growth in the industrial outdoor storage sector.
Market Cap
$774.0M
Pitch Price
$12.61
Price Target
25.00 (+20%)
Dividend
1.92%
EV/EBITDA
10.35
P/E
-208.27
EV/Sales
6.90
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)