Peakstone Realty Trust (NYSE:PKST) Short Interest Down 26.2% in March

Peakstone Realty Trust (NYSE:PKST) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 798,672 shares, a drop of 26.2% from the February 26th total of 1,081,825 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 648,594 shares, the short-interest ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial lowered Peakstone Realty Trust from a “buy” rating to a “hold” rating and increased their price objective for the company from $19.00 to $21.00 in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Thursday, January 22nd. Finally, UBS Group cut shares of Peakstone Realty Trust from a “buy” rating to a “neutral” rating and upped their target price for the company from $17.00 to $21.00 in a research report on Monday, February 2nd. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $21.00.

Peakstone Realty Trust Trading Down 0.1%

PKST traded down $0.02 during midday trading on Friday, reaching $20.87. 273,717 shares of the company were exchanged, compared to its average volume of 540,759. The stock has a market capitalization of $775.76 million, a P/E ratio of -2.49 and a beta of 1.46. Peakstone Realty Trust has a one year low of $10.70 and a one year high of $20.97. The stock’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $15.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.83 and a current ratio of 2.83.

Peakstone Realty Trust (NYSE:PKST) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.66). Peakstone Realty Trust had a negative net margin of 189.03% and a negative return on equity of 39.44%. The company had revenue of $25.99 million during the quarter, compared to the consensus estimate of $28.57 million. As a group, analysts forecast that Peakstone Realty Trust will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Peakstone Realty Trust

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. boosted its position in shares of Peakstone Realty Trust by 2,542.3% during the third quarter. Assetmark Inc. now owns 1,876 shares of the company’s stock worth $25,000 after purchasing an additional 1,805 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Peakstone Realty Trust by 101.4% during 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 during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Peakstone Realty Trust during the 2nd quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new position in Peakstone Realty Trust during the second quarter worth about $35,000. Finally, Financial Life Planners bought a new position in Peakstone Realty Trust during the third quarter worth about $44,000. 38.98% of the stock is currently owned by institutional investors and hedge funds.

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.