Griffin Realty Trust Q3 net loss $111.2M; revenue down 15.9% to $101.3M

Peakstone Realty Trust

2022-Q3 EPS reported -$0.56 revenue$340,592,000

Q3 revenue $101.3M vs $120.6M YoY; net loss $(111.2)M vs income $2.5M.
AFFO per share $0.12, down from $0.15; driven by Office Portfolio Sale.
Completed sale of 41-property office portfolio for ~$1.1B; invested $159.9M for 49% JV interest.
Paid down $1.0B debt; extended $750M credit facility to June 2024 with three 3-month extensions.
Net asset value per share fell to $7.42 from $9.10, driven by lower office property values.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Peakstone Realty Trust reported the quarter ended September 30, 2022 results: revenue approximately $101.3 million, net income $(111.2) million, EPS $(0.34) per basic and diluted share.

Period: the quarter ended September 30, 2022
Revenue: approximately $101.3 million
Net income: $(111.2) million
EPS: $(0.34) per basic and diluted share
Result: reported results

Exact text from the filing

Revenue Total revenue decreased 15.9% to approximately $101.3 million for the quarter ended September 30, 2022, a decrease of $19.3 million compared to the same quarter last year, primarily driven by a $14.3 million decrease in rental income due to the Office Portfolio Sale. Net Income (Loss) Net income (loss) attributable to common stockholders was approximately $(111.2) million, or $(0.34) per basic and diluted share, for the quarter ended September 30, 2022, compared to net income (loss) attributable to common stockholders of approximately $2.5 million, or $0.01 per basic and diluted share, for the quarter ended September 30, 2021.

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Peakstone Realty Trust filing history →

Source: SEC EDGAR

accession 0001600626-22-000118

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