Raffles Associates LP Trims Holdings in Peakstone Realty Trust (NYSE:PKST)

Raffles Associates LP trimmed its holdings in shares of Peakstone Realty Trust (NYSE:PKST) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,987 shares of the company’s stock after selling 3,000 shares during the quarter. Raffles Associates LP owned 0.08% of Peakstone Realty Trust worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC purchased a new position in Peakstone Realty Trust in the second quarter worth approximately $172,000. Concorde Asset Management LLC lifted its stake in shares of Peakstone Realty Trust by 20.2% in the 2nd quarter. Concorde Asset Management LLC now owns 23,644 shares of the company’s stock worth $251,000 after acquiring an additional 3,976 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Peakstone Realty Trust in the 2nd quarter valued at approximately $43,000. Arizona State Retirement System purchased a new position in Peakstone Realty Trust in the second quarter worth $108,000. Finally, Rhumbline Advisers lifted its stake in shares of Peakstone Realty Trust by 2.8% in the second quarter. Rhumbline Advisers now owns 58,050 shares of the company’s stock valued at $615,000 after purchasing an additional 1,569 shares during the period. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Peakstone Realty Trust Price Performance

Shares of NYSE:PKST opened at $14.94 on Tuesday. The business has a fifty day simple moving average of $13.34 and a 200-day simple moving average of $13.34. Peakstone Realty Trust has a 52 week low of $9.89 and a 52 week high of $21.73. The company has a market cap of $542.41 million, a P/E ratio of -0.96 and a beta of 2.63. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 1.19.

Peakstone Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Monday, September 30th. Peakstone Realty Trust’s dividend payout ratio is currently -5.79%.

Analysts Set New Price Targets

Separately, Truist Financial dropped their price objective on shares of Peakstone Realty Trust from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st.

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.