Peakstone Realty Trust (NYSE:PKST) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Peakstone Realty Trust (NYSE:PKST) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on PKST. Truist Financial raised shares of Peakstone Realty Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $16.00 to $19.00 in a report on Wednesday, September 3rd. UBS Group lifted their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

Peakstone Realty Trust Stock Performance

Shares of PKST opened at $13.43 on Monday. The business has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $12.69. 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 52 week low of $10.14 and a 52 week high of $16.26. The stock has a market cap of $493.91 million, a price-to-earnings ratio of -1.51 and a beta of 1.76.

Peakstone Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 30th. Peakstone Realty Trust’s dividend payout ratio is presently -10.12%.

Institutional Trading of Peakstone Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Level Four Advisory Services LLC increased its position in shares of Peakstone Realty Trust by 3.2% during the second quarter. Level Four Advisory Services LLC now owns 27,386 shares of the company’s stock worth $362,000 after acquiring an additional 857 shares during the period. Arkadios Wealth Advisors grew its position in shares of Peakstone Realty Trust by 5.3% in the 1st quarter. Arkadios Wealth Advisors now owns 18,146 shares of the company’s stock worth $229,000 after buying an additional 911 shares during the last quarter. Allworth Financial LP raised its stake in shares of Peakstone Realty Trust by 26.3% during the 1st quarter. Allworth Financial LP now owns 4,418 shares of the company’s stock worth $53,000 after acquiring an additional 919 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Peakstone Realty Trust by 20.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,381 shares of the company’s stock valued at $71,000 after acquiring an additional 920 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Peakstone Realty Trust by 15.3% during the first quarter. Russell Investments Group Ltd. now owns 7,021 shares of the company’s stock worth $88,000 after purchasing an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 38.98% of the company’s stock.

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.