Peakstone Realty Trust (NYSE:PKST) Stock Price Up 5.6%

Peakstone Realty Trust (NYSE:PKST)’s stock price rose 5.6% during trading on Wednesday . The company traded as high as $14.65 and last traded at $14.64. Approximately 76,481 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 159,090 shares. The stock had previously closed at $13.86.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of Peakstone Realty Trust from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 16th.

Peakstone Realty Trust Stock Performance

The stock has a market cap of $535.21 million and a price-to-earnings ratio of -0.95. The stock’s 50 day moving average is $14.64 and its two-hundred day moving average is $15.69. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 1.19.

Peakstone Realty Trust (NYSE:PKST) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($1.20). The business had revenue of $63.06 million for the quarter, compared to analyst estimates of $62.07 million. Peakstone Realty Trust had a negative return on equity of 38.73% and a negative net margin of 216.52%. Analysts anticipate that Peakstone Realty Trust will post 3.03 earnings per share for the current fiscal year.

Peakstone Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 6.11%. The ex-dividend date of this dividend was Wednesday, March 27th. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -5.80%.

Institutional Trading of Peakstone Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PKST. Sunbelt Securities Inc. grew its holdings in shares of Peakstone Realty Trust by 34.6% during the third quarter. Sunbelt Securities Inc. now owns 2,733 shares of the company’s stock worth $45,000 after buying an additional 703 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Peakstone Realty Trust by 4.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,620 shares of the company’s stock worth $451,000 after buying an additional 1,000 shares in the last quarter. Tsfg LLC grew its holdings in shares of Peakstone Realty Trust by 128.1% during the first quarter. Tsfg LLC now owns 2,051 shares of the company’s stock worth $33,000 after buying an additional 1,152 shares in the last quarter. SageView Advisory Group LLC grew its holdings in shares of Peakstone Realty Trust by 12.1% during the third quarter. SageView Advisory Group LLC now owns 11,612 shares of the company’s stock worth $193,000 after buying an additional 1,254 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Peakstone Realty Trust by 8.6% during the fourth quarter. Truist Financial Corp now owns 18,513 shares of the company’s stock worth $369,000 after buying an additional 1,472 shares in the last quarter. Institutional investors and hedge funds own 38.98% of the company’s stock.

About Peakstone Realty Trust

Peakstone Realty Trust (NYSE: PKST) is an internally managed, real estate investment trust (REIT) that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties. These assets are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations.