JPMorgan Chase & Co. Boosts Holdings in Peakstone Realty Trust (NYSE:PKST)

JPMorgan Chase & Co. increased its holdings in shares of Peakstone Realty Trust (NYSE:PKST) by 64.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,463 shares of the company’s stock after buying an additional 80,980 shares during the period. JPMorgan Chase & Co. owned about 0.57% of Peakstone Realty Trust worth $2,297,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Peakstone Realty Trust by 13.9% during the 4th quarter. SG Americas Securities LLC now owns 15,742 shares of the company’s stock worth $174,000 after acquiring an additional 1,919 shares in the last quarter. PFG Investments LLC lifted its position in shares of Peakstone Realty Trust by 23.4% during the 4th quarter. PFG Investments LLC now owns 13,130 shares of the company’s stock worth $145,000 after purchasing an additional 2,488 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Peakstone Realty Trust during the fourth quarter worth $30,000. Spire Wealth Management purchased a new position in Peakstone Realty Trust in the fourth quarter valued at $30,000. Finally, Golden State Wealth Management LLC acquired a new stake in Peakstone Realty Trust in the fourth quarter valued at $31,000. 38.98% of the stock is currently owned by institutional investors and hedge funds.

Peakstone Realty Trust Price Performance

Shares of NYSE:PKST opened at $12.35 on Thursday. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.26. The firm has a market capitalization of $453.89 million, a P/E ratio of -44.10 and a beta of 1.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.24 and a quick ratio of 5.24. The company’s fifty day moving average price is $11.87 and its 200 day moving average price is $12.11.

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

Peakstone Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date was Monday, March 31st. Peakstone Realty Trust’s dividend payout ratio is currently -321.43%.

Analysts Set New Price Targets

PKST has been the subject of several analyst reports. Truist Financial upped their price objective 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. UBS Group began coverage on Peakstone Realty Trust in a report on Thursday, January 16th. They issued a “buy” rating and a $15.00 price target for the company.

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.