Peakstone Realty Trust (NYSE:PKST) Shares Up 7.2% – Still a Buy?

Peakstone Realty Trust (NYSE:PKST)’s stock price was up 7.2% on Tuesday . The company traded as high as $13.92 and last traded at $13.92. Approximately 28,702 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 155,801 shares. The stock had previously closed at $12.99.

Analysts Set New Price Targets

Separately, Truist Financial decreased their target price on shares of Peakstone Realty Trust from $16.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st.

Peakstone Realty Trust Stock Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 8.03 and a current ratio of 8.03. The business’s 50 day moving average price is $13.59 and its 200 day moving average price is $13.09.

Peakstone Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a $0.225 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.90 dividend on an annualized basis and a yield of 6.45%. Peakstone Realty Trust’s payout ratio is -22.17%.

Institutional Investors Weigh In On Peakstone Realty Trust

Several hedge funds have recently modified their holdings of PKST. Commonwealth Equity Services LLC raised its holdings in Peakstone Realty Trust by 0.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 114,417 shares of the company’s stock worth $1,846,000 after purchasing an additional 768 shares during the period. Tsfg LLC lifted its position in shares of Peakstone Realty Trust by 43.0% during the 2nd quarter. Tsfg LLC now owns 2,933 shares of the company’s stock valued at $31,000 after buying an additional 882 shares in the last quarter. Fortis Group Advisors LLC grew its stake in Peakstone Realty Trust by 18.3% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,279 shares of the company’s stock valued at $86,000 after acquiring an additional 970 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Peakstone Realty Trust by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,084 shares of the company’s stock worth $149,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Accel Wealth Management raised its position in Peakstone Realty Trust by 13.0% during the second quarter. Accel Wealth Management now owns 11,914 shares of the company’s stock worth $126,000 after acquiring an additional 1,373 shares during the period. 38.98% of the stock is owned by hedge funds and other institutional investors.

Peakstone Realty Trust Company Profile

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.