Peakstone Realty Trust (NYSE:PKST) Issues Earnings Results

Peakstone Realty Trust (NYSE:PKST) issued its quarterly earnings results on Tuesday. The company reported ($0.47) earnings per share (EPS) for the quarter, FiscalAI reports. Peakstone Realty Trust had a negative return on equity of 39.44% and a negative net margin of 189.03%.The business had revenue of $25.66 million during the quarter.

Peakstone Realty Trust Trading Down 0.0%

Shares of Peakstone Realty Trust stock traded down $0.01 during trading hours on Wednesday, reaching $20.99. The stock had a trading volume of 878,138 shares, compared to its average volume of 339,889. The firm has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $17.15. The firm has a market capitalization of $780.22 million, a price-to-earnings ratio of -2.50 and a beta of 1.11. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.61. Peakstone Realty Trust has a 1 year low of $10.80 and a 1 year high of $21.00.

Hedge Funds Weigh In On Peakstone Realty Trust

Large investors have recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of Peakstone Realty Trust by 2,542.3% in the 3rd quarter. Assetmark Inc. now owns 1,876 shares of the company’s stock worth $25,000 after purchasing an additional 1,805 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of 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 purchasing an additional 1,007 shares during the period. Financial Life Planners purchased a new position in shares of Peakstone Realty Trust in the 3rd quarter worth about $44,000. Versant Capital Management Inc raised its holdings in shares of Peakstone Realty Trust by 1,588.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,546 shares of the company’s stock worth $47,000 after purchasing an additional 3,336 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Peakstone Realty Trust by 209.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,767 shares of the company’s stock valued at $50,000 after buying an additional 2,551 shares during the period. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PKST shares. Truist Financial lowered Peakstone Realty Trust from a “buy” rating to a “hold” rating and raised their price target for the stock from $19.00 to $21.00 in a research note 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 lowered Peakstone Realty Trust from a “buy” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $21.00 in a research note on Monday, February 2nd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Peakstone Realty Trust has an average rating of “Reduce” and a consensus target price of $21.00.

Peakstone Realty Trust Company Profile

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.