Peakstone Realty Trust (NYSE:PKST) Sets New 1-Year High – Here’s What Happened

Peakstone Realty Trust (NYSE:PKST) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $15.75 and last traded at $15.3160, with a volume of 29539 shares. The stock had previously closed at $15.04.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PKST. Weiss Ratings reiterated a “sell (d-)” rating on shares of Peakstone Realty Trust in a report on Thursday, January 22nd. Zacks Research raised shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen cut Peakstone Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Peakstone Realty Trust has a consensus rating of “Hold” and a consensus target price of $17.50.

Peakstone Realty Trust Trading Up 4.1%

The stock has a market cap of $575.76 million, a price-to-earnings ratio of -1.92 and a beta of 1.71. The company has a quick ratio of 5.97, a current ratio of 5.97 and a debt-to-equity ratio of 1.34. The business’s 50 day simple moving average is $14.16 and its 200 day simple moving average is $13.65.

Peakstone Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 19th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, December 31st. Peakstone Realty Trust’s dividend payout ratio is presently -4.92%.

Institutional Trading of Peakstone Realty Trust

Several large investors have recently modified their holdings of PKST. Assetmark Inc. lifted its holdings in shares of Peakstone Realty Trust by 2,542.3% in the third quarter. Assetmark Inc. now owns 1,876 shares of the company’s stock worth $25,000 after acquiring an additional 1,805 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Peakstone Realty Trust during the 2nd quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its stake in Peakstone Realty Trust by 101.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,000 shares of the company’s stock valued at $26,000 after purchasing an additional 1,007 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Peakstone Realty Trust in the second quarter valued at approximately $35,000. Finally, Financial Life Planners acquired a new stake in Peakstone Realty Trust in the third quarter valued at approximately $44,000. 38.98% of the stock is owned by institutional investors and hedge funds.

About Peakstone Realty Trust

Peakstone Realty Trust, Inc (NYSE: PKST) is a publicly traded real estate investment trust focused on the acquisition, ownership and operation of necessity-based retail and distribution properties. The company specializes in grocery-anchored shopping centers, community and neighborhood retail assets, and a growing portfolio of cold storage and distribution facilities. Peakstone generates rental income under long-term leases with a mix of national grocers, drugstore chains and logistics tenants.

Peakstone’s retail portfolio is anchored by investment-grade tenants in densely populated trade areas, providing tenants with essential goods and services and supporting resilient occupancy and cash flow.