Sumitomo Mitsui Trust Group Inc. Acquires 8,000 Shares of Peakstone Realty Trust (NYSE:PKST)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Peakstone Realty Trust (NYSE:PKST) by 21.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,996 shares of the company’s stock after purchasing an additional 8,000 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.12% of Peakstone Realty Trust worth $567,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Peakstone Realty Trust by 4,623.2% during the first quarter. GAMMA Investing LLC now owns 74,957 shares of the company’s stock worth $944,000 after buying an additional 73,370 shares during the last quarter. Aurora Private Wealth Inc. purchased a new position in Peakstone Realty Trust in the first quarter valued at approximately $242,000. D. E. Shaw & Co. Inc. grew its holdings in Peakstone Realty Trust by 200.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 45,336 shares of the company’s stock valued at $502,000 after purchasing an additional 30,235 shares during the period. Northern Trust Corp increased its position in Peakstone Realty Trust by 16.4% in the fourth quarter. Northern Trust Corp now owns 370,451 shares of the company’s stock worth $4,101,000 after buying an additional 52,119 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in Peakstone Realty Trust by 100.8% in the first quarter. Golden State Wealth Management LLC now owns 5,566 shares of the company’s stock worth $70,000 after buying an additional 2,794 shares during the last quarter. 38.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PKST has been the subject of several recent research reports. UBS Group lifted their price objective on Peakstone Realty Trust from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Truist Financial boosted their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, June 3rd.

Peakstone Realty Trust Stock Up 2.0%

Shares of NYSE PKST opened at $13.82 on Friday. The business has a 50-day moving average of $12.54 and a 200-day moving average of $11.82. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $508.20 million, a price-to-earnings ratio of -7.81 and a beta of 1.74. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.26.

Peakstone Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.90 annualized dividend and a yield of 6.51%. Peakstone Realty Trust’s payout ratio is -50.85%.

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.