State Street Corp Sells 919 Shares of Peakstone Realty Trust (NYSE:PKST)

State Street Corp cut its stake in Peakstone Realty Trust (NYSE:PKST) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 880,663 shares of the company’s stock after selling 919 shares during the period. State Street Corp owned approximately 2.42% of Peakstone Realty Trust worth $12,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PKST. Fortitude Family Office LLC bought a new position in shares of Peakstone Realty Trust during the third quarter worth about $30,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Peakstone Realty Trust during the 2nd quarter worth approximately $43,000. Fortis Group Advisors LLC grew its stake in shares of Peakstone Realty Trust by 18.3% during the 3rd quarter. Fortis Group Advisors LLC now owns 6,279 shares of the company’s stock worth $86,000 after acquiring an additional 970 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of Peakstone Realty Trust in the second quarter valued at approximately $108,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Peakstone Realty Trust in the second quarter worth $116,000. Institutional investors own 38.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th.

Peakstone Realty Trust Stock Performance

PKST opened at $11.26 on Thursday. The business’s 50-day simple moving average is $13.01 and its 200 day simple moving average is $12.89. Peakstone Realty Trust has a 52-week low of $9.89 and a 52-week high of $21.73. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24. The firm has a market capitalization of $409.66 million, a PE ratio of -9.54 and a beta of 2.51.

Peakstone Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.225 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.90 dividend on an annualized basis and a yield of 7.99%. Peakstone Realty Trust’s payout ratio is -76.27%.

Peakstone Realty Trust 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.