Peakstone Realty Trust (NYSE:PKST) Research Coverage Started at UBS Group

UBS Group started coverage on shares of Peakstone Realty Trust (NYSE:PKST) in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

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

Peakstone Realty Trust Price Performance

Peakstone Realty Trust stock opened at $11.24 on Thursday. The stock’s 50 day moving average price is $12.14 and its two-hundred day moving average price is $12.86. Peakstone Realty Trust has a 52-week low of $9.89 and a 52-week high of $16.86. The stock has a market capitalization of $409.02 million, a price-to-earnings ratio of -9.53 and a beta of 2.59. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24.

Peakstone Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date was Tuesday, December 31st. Peakstone Realty Trust’s payout ratio is -76.27%.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 during the period. The Manufacturers Life Insurance Company grew its stake in Peakstone Realty Trust by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,084 shares of the company’s stock worth $149,000 after buying an additional 1,089 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Peakstone Realty Trust by 10.6% during the third quarter. Daiwa Securities Group Inc. now owns 12,010 shares of the company’s stock valued at $164,000 after purchasing an additional 1,148 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Peakstone Realty Trust by 2.8% during the second quarter. Rhumbline Advisers now owns 58,050 shares of the company’s stock worth $615,000 after acquiring an additional 1,569 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Peakstone Realty Trust by 11.0% in the third quarter. Arkadios Wealth Advisors now owns 16,759 shares of the company’s stock worth $228,000 after buying an additional 1,661 shares during the period. 38.98% of the stock is owned by hedge funds and other institutional investors.

Peakstone Realty Trust Company 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.