Raymond James & Associates Makes New $502,000 Investment in Peakstone Realty Trust (NYSE:PKST)

Raymond James & Associates acquired a new stake in shares of Peakstone Realty Trust (NYSE:PKST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,211 shares of the company’s stock, valued at approximately $502,000. Raymond James & Associates owned about 0.07% of Peakstone Realty Trust at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PKST. Vanguard Group Inc. boosted its position in Peakstone Realty Trust by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,823,509 shares of the company’s stock valued at $30,343,000 after buying an additional 81,169 shares during the period. Swiss National Bank purchased a new stake in shares of Peakstone Realty Trust during the third quarter worth about $1,316,000. Sigma Planning Corp bought a new stake in shares of Peakstone Realty Trust in the third quarter worth about $1,303,000. LPL Financial LLC increased its holdings in Peakstone Realty Trust by 33.5% during the 3rd quarter. LPL Financial LLC now owns 266,588 shares of the company’s stock valued at $4,436,000 after purchasing an additional 66,940 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Peakstone Realty Trust by 55,855.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 55,955 shares of the company’s stock valued at $931,000 after purchasing an additional 55,855 shares during the last quarter. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Peakstone Realty Trust Trading Down 3.5 %

Shares of PKST opened at $13.85 on Friday. Peakstone Realty Trust has a 1-year low of $12.10 and a 1-year high of $39.91. The firm has a market capitalization of $502.89 million and a price-to-earnings ratio of -0.89. The firm’s 50-day moving average price is $14.62 and its 200-day moving average price is $15.66. 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 posted its 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). Peakstone Realty Trust had a negative return on equity of 38.73% and a negative net margin of 216.52%. The firm had revenue of $63.06 million for the quarter, compared to analysts’ expectations of $62.07 million. Sell-side analysts anticipate that Peakstone Realty Trust will post 3.03 EPS for the current year.

Peakstone Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 29th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date of this dividend was Wednesday, March 27th. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -5.80%.

Analyst Upgrades and Downgrades

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

Peakstone Realty Trust 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.