Sumitomo Mitsui Trust Group Inc. Has $575,000 Stake in Peakstone Realty Trust $PKST

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Peakstone Realty Trust (NYSE:PKST) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,496 shares of the company’s stock after selling 1,500 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.12% of Peakstone Realty Trust worth $575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PKST. MBL Wealth LLC bought a new stake in shares of Peakstone Realty Trust during the second quarter worth $140,000. GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 3,276 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position 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 worth $162,000 after acquiring an additional 1,458 shares during the last quarter. Strs Ohio acquired a new position in Peakstone Realty Trust in the 1st quarter worth about $89,000. Finally, Jones Financial Companies Lllp raised its position in Peakstone Realty Trust by 1,051.7% in the first 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 during the last quarter. Institutional investors own 38.98% of the company’s stock.

Peakstone Realty Trust Stock Down 1.0%

Peakstone Realty Trust stock opened at $13.54 on Friday. The firm has a market cap of $498.03 million, a price-to-earnings ratio of -1.52 and a beta of 1.76. Peakstone Realty Trust has a 52-week low of $10.14 and a 52-week high of $14.59. The company has a debt-to-equity ratio of 1.61, a quick ratio of 5.02 and a current ratio of 5.02. The firm has a 50 day moving average price of $13.29 and a two-hundred day moving average price of $12.96.

Peakstone Realty Trust Cuts Dividend

The company also recently announced 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 was Tuesday, September 30th. This represents a $0.40 annualized dividend and a yield of 3.0%. Peakstone Realty Trust’s payout ratio is presently -4.50%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PKST. Zacks Research downgraded Peakstone Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Peakstone Realty Trust in a report on Wednesday, October 8th. UBS Group raised their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Truist Financial raised 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 research note on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Peakstone Realty Trust has an average rating of “Hold” and an average target price 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.