Peakstone Realty Trust (NYSE:PKST) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Peakstone Realty Trust (NYSE:PKST) issued its earnings results on Wednesday. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.22), FiscalAI reports. Peakstone Realty Trust had a negative net margin of 153.27% and a negative return on equity of 32.69%.

Peakstone Realty Trust Stock Performance

PKST traded up $0.02 on Wednesday, reaching $20.77. 396,751 shares of the stock were exchanged, compared to its average volume of 808,855. Peakstone Realty Trust has a fifty-two week low of $10.35 and a fifty-two week high of $20.97. The firm has a market capitalization of $763.97 million, a PE ratio of -2.55 and a beta of 1.70. 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’s 50-day moving average price is $15.85 and its 200 day moving average price is $14.24.

Institutional Trading of Peakstone Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of PKST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Peakstone Realty Trust by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,715 shares of the company’s stock worth $274,000 after purchasing an additional 936 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Peakstone Realty Trust by 1,051.7% during the first quarter. Jones Financial Companies Lllp now owns 4,791 shares of the company’s stock worth $60,000 after buying an additional 4,375 shares during the period. Strs Ohio acquired a new stake in shares of Peakstone Realty Trust during the first quarter valued at about $89,000. Quantbot Technologies LP acquired a new stake in shares of Peakstone Realty Trust during the second quarter valued at about $97,000. Finally, StoneX Group Inc. raised its stake in shares of Peakstone Realty Trust by 36.3% in the 2nd quarter. StoneX Group Inc. now owns 15,118 shares of the company’s stock valued at $202,000 after acquiring an additional 4,028 shares during the period. 38.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PKST. Weiss Ratings reissued a “sell (d-)” rating on shares of Peakstone Realty Trust in a research report on Thursday, January 22nd. Truist Financial cut Peakstone Realty Trust from a “buy” rating to a “hold” rating and increased their target price for the company from $19.00 to $21.00 in a research report on Tuesday, February 3rd. Wall Street Zen downgraded shares of Peakstone Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. UBS Group cut shares of Peakstone Realty Trust from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $21.00 in a research report on Monday, February 2nd. Finally, Zacks Research upgraded shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. 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, the company currently has an average rating of “Reduce” and a consensus price target 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.