HighTower Advisors LLC Sells 1,693 Shares of Peakstone Realty Trust $PKST

HighTower Advisors LLC trimmed its position in shares of Peakstone Realty Trust (NYSE:PKST) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,165 shares of the company’s stock after selling 1,693 shares during the period. HighTower Advisors LLC’s holdings in Peakstone Realty Trust were worth $153,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Nuveen LLC bought a new stake in Peakstone Realty Trust during the first quarter valued at about $1,166,000. Invesco Ltd. boosted its holdings in Peakstone Realty Trust by 23.3% during the first quarter. Invesco Ltd. now owns 832,315 shares of the company’s stock valued at $10,487,000 after acquiring an additional 157,267 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Peakstone Realty Trust by 17.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,506 shares of the company’s stock worth $334,000 after purchasing an additional 3,886 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Peakstone Realty Trust by 69.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,268 shares of the company’s stock worth $7,752,000 after purchasing an additional 251,858 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of Peakstone Realty Trust during the 1st quarter worth about $35,000. 38.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on PKST. Truist Financial upgraded shares of Peakstone Realty Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $16.00 to $19.00 in a report on Wednesday. UBS Group boosted their price objective on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.50.

Peakstone Realty Trust Stock Down 0.2%

Shares of PKST opened at $13.54 on Friday. The stock has a market cap of $498.10 million, a price-to-earnings ratio of -1.52 and a beta of 1.76. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 1.61. Peakstone Realty Trust has a 12 month low of $10.14 and a 12 month high of $16.26. The company has a 50-day moving average price of $13.26 and a two-hundred day moving average price of $12.52.

Peakstone Realty Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.0%. Peakstone Realty Trust’s dividend payout ratio (DPR) is currently -10.12%.

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.