Peakstone Realty Trust (NYSE:PKST) Sets New 1-Year High – Should You Buy?

Peakstone Realty Trust (NYSE:PKST) shares hit a new 52-week high on Thursday . The stock traded as high as $20.97 and last traded at $20.86, with a volume of 15614 shares. The stock had previously closed at $20.86.

Analyst Upgrades and Downgrades

PKST has been the subject of several research analyst reports. Zacks Research upgraded Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. UBS Group lowered Peakstone Realty Trust from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $21.00 in a research note on Monday, February 2nd. Truist Financial downgraded shares of Peakstone Realty Trust from a “buy” rating to a “hold” rating and increased their target price for the stock from $19.00 to $21.00 in a research report on Tuesday, February 3rd. Wall Street Zen lowered shares of Peakstone Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peakstone Realty Trust in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $21.00.

Peakstone Realty Trust Price Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 5.97 and a quick ratio of 5.97. The company has a market cap of $765.05 million, a PE ratio of -2.56 and a beta of 1.70. The company has a 50-day moving average price of $15.59 and a two-hundred day moving average price of $14.14.

Institutional Trading of Peakstone Realty Trust

A number of hedge funds have recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Peakstone Realty Trust by 2,542.3% in the third quarter. Assetmark Inc. now owns 1,876 shares of the company’s stock valued at $25,000 after purchasing an additional 1,805 shares during the period. Farther Finance Advisors LLC lifted its holdings in Peakstone Realty Trust by 101.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,000 shares of the company’s stock worth $26,000 after buying an additional 1,007 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Peakstone Realty Trust in the 2nd quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in Peakstone Realty Trust in the 2nd quarter valued at about $35,000. Finally, Financial Life Planners acquired a new stake in shares of Peakstone Realty Trust during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 38.98% of the company’s stock.

About Peakstone Realty Trust

Peakstone Realty Trust, Inc (NYSE: PKST) is a publicly traded real estate investment trust focused on the acquisition, ownership and operation of necessity-based retail and distribution properties. The company specializes in grocery-anchored shopping centers, community and neighborhood retail assets, and a growing portfolio of cold storage and distribution facilities. Peakstone generates rental income under long-term leases with a mix of national grocers, drugstore chains and logistics tenants.

Peakstone’s retail portfolio is anchored by investment-grade tenants in densely populated trade areas, providing tenants with essential goods and services and supporting resilient occupancy and cash flow.