Geode Capital Management LLC Buys 7,139 Shares of Peakstone Realty Trust (NYSE:PKST)

Geode Capital Management LLC raised its stake in Peakstone Realty Trust (NYSE:PKST) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 929,777 shares of the company’s stock after acquiring an additional 7,139 shares during the quarter. Geode Capital Management LLC owned about 2.56% of Peakstone Realty Trust worth $10,295,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PKST. JPMorgan Chase & Co. increased its stake in shares of Peakstone Realty Trust by 64.0% during the fourth quarter. JPMorgan Chase & Co. now owns 207,463 shares of the company’s stock worth $2,297,000 after purchasing an additional 80,980 shares during the period. Meixler Investment Management Ltd. acquired a new position in Peakstone Realty Trust in the 4th quarter valued at $603,000. HighPoint Advisor Group LLC increased its position in Peakstone Realty Trust by 204.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 74,263 shares of the company’s stock worth $798,000 after buying an additional 49,898 shares during the period. Barclays PLC lifted its holdings in shares of Peakstone Realty Trust by 318.6% during the third quarter. Barclays PLC now owns 56,078 shares of the company’s stock worth $764,000 after buying an additional 42,681 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Peakstone Realty Trust by 83.6% during the third quarter. Jane Street Group LLC now owns 90,718 shares of the company’s stock worth $1,236,000 after buying an additional 41,313 shares in the last quarter. 38.98% of the stock is currently owned by institutional investors and hedge funds.

Peakstone Realty Trust Stock Up 1.0 %

Shares of NYSE PKST opened at $12.11 on Wednesday. The stock has a market capitalization of $444.96 million, a P/E ratio of -43.23 and a beta of 1.70. The stock’s fifty day moving average is $11.84 and its 200 day moving average is $12.11. Peakstone Realty Trust has a 52 week low of $9.89 and a 52 week high of $16.26. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24.

Peakstone Realty Trust (NYSE:PKST) last released its earnings results on Thursday, February 20th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.85. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. The firm had revenue of $57.93 million for the quarter, compared to analyst estimates of $54.68 million. Sell-side analysts forecast that Peakstone Realty Trust will post 2.13 earnings per share for the current fiscal year.

Peakstone Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 31st were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 7.43%. The ex-dividend date of this dividend was Monday, March 31st. Peakstone Realty Trust’s payout ratio is presently -321.43%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group began coverage on shares of Peakstone Realty Trust in a research report on Thursday, January 16th. They set a “buy” rating and a $15.00 price target on the stock. Truist Financial increased their price target on Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, March 24th.

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.