Peakstone Realty Trust Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 24, 2023 at 04:59 pm
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Peakstone Realty Trust reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 75.89 million compared to USD 119.13 million a year ago. Net loss was USD 228.632 million compared to net income of USD 1.012 million a year ago. Basic loss per share from continuing operations was USD 6.34 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 6.34 compared to basic earnings per share from continuing operations of USD 0.03 a year ago.
For the full year, the company reported sales was USD 416.49 million compared to USD 459.87 million a year ago. Net loss was USD 401.85 million compared to net income of USD 11.33 million a year ago. Basic loss per share from continuing operations was USD 11.41 compared to basic earnings per share from continuing operations of USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 11.41 compared to diluted earnings per share from continuing operations of USD 0.04 a year ago.
Peakstone Realty Trust is an internally managed real estate investment trust (REIT). The Company owns and operates a portfolio of predominantly single-tenant industrial and office properties. These assets are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations. The Company operates through three segments: Industrial, Office and Other. Industrial: Industrial segment comprised 19 industrial properties. Office segment comprised 35 office properties. Other segment comprised 17 properties. The Companyâs long-term objective is to maximize shareholder value through the ownership and operation of industrial and select office assets located in strategic growth markets. It seeks to generate internal and external growth by increasing the cash flow from its properties and expanding its portfolio by making industrial-focused investments. The Company has 71 properties located in 24 states.
PEAKSTONE REALTY TRUST 
