Peakstone Realty Trust (NYSE:PKST) Upgraded at Truist Financial

Truist Financial upgraded shares of Peakstone Realty Trust (NYSE:PKST) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports. Truist Financial currently has $19.00 price objective on the stock, up from their previous price objective of $16.00.

Separately, UBS Group boosted their price objective on Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Peakstone Realty Trust presently has an average rating of “Buy” and an average target price of $17.50.

Peakstone Realty Trust Trading Up 0.2%

NYSE PKST opened at $13.57 on Wednesday. The firm has a 50 day simple moving average of $13.27 and a 200-day simple moving average of $12.54. The company has a debt-to-equity ratio of 1.61, a quick ratio of 5.02 and a current ratio of 5.02. Peakstone Realty Trust has a one year low of $10.14 and a one year high of $16.26. The firm has a market cap of $499.31 million, a price-to-earnings ratio of -1.53 and a beta of 1.76.

Peakstone Realty Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.9%. Peakstone Realty Trust’s payout ratio is currently -10.12%.

Institutional Investors Weigh In On Peakstone Realty Trust

Several institutional investors have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in Peakstone Realty Trust during the second quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Peakstone Realty Trust during the fourth quarter worth approximately $34,000. New Age Alpha Advisors LLC acquired a new stake in Peakstone Realty Trust during the first quarter worth approximately $35,000. Elevation Point Wealth Partners LLC acquired a new stake in Peakstone Realty Trust during the second quarter worth approximately $35,000. Finally, Ameriflex Group Inc. acquired a new stake in Peakstone Realty Trust during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 38.98% of the company’s stock.

About Peakstone Realty Trust

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.