Truist Financial Corp Lowers Stake in Peakstone Realty Trust $PKST

Truist Financial Corp reduced its holdings in shares of Peakstone Realty Trust (NYSE:PKST) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,499 shares of the company’s stock after selling 953 shares during the period. Truist Financial Corp’s holdings in Peakstone Realty Trust were worth $205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Peakstone Realty Trust by 55.1% during the 2nd quarter. GAMMA Investing LLC now owns 9,225 shares of the company’s stock valued at $122,000 after purchasing an additional 3,276 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Peakstone Realty Trust by 14.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,690 shares of the company’s stock valued at $162,000 after purchasing an additional 1,458 shares in the last quarter. Strs Ohio bought a new stake in Peakstone Realty Trust during the 1st quarter valued at about $89,000. Jones Financial Companies Lllp increased its stake in Peakstone Realty Trust by 1,051.7% during the 1st quarter. Jones Financial Companies Lllp now owns 4,791 shares of the company’s stock valued at $60,000 after purchasing an additional 4,375 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Peakstone Realty Trust by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,715 shares of the company’s stock valued at $274,000 after purchasing an additional 936 shares in the last quarter. 38.98% of the stock is currently owned by institutional investors.

Peakstone Realty Trust Stock Performance

Shares of PKST stock opened at $12.55 on Friday. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $461.71 million, a PE ratio of -1.41 and a beta of 1.76. The company has a 50 day moving average price of $13.03 and a 200-day moving average price of $12.82. Peakstone Realty Trust has a 52 week low of $10.14 and a 52 week high of $14.59.

Peakstone Realty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Tuesday, September 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.2%. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -4.50%.

Wall Street Analyst Weigh In

PKST has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Wednesday, October 8th. Truist Financial upgraded shares of Peakstone Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $16.00 to $19.00 in a research note on Wednesday, September 3rd. Zacks Research lowered shares of Peakstone Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Finally, UBS Group lifted their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.50.

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.