Peakstone Realty Trust (NYSE:PKST) Price Target Raised to $15.00

Peakstone Realty Trust (NYSE:PKST) had its price target upped by Truist Financial from $13.00 to $15.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Separately, UBS Group initiated coverage on Peakstone Realty Trust in a research note on Thursday, January 16th. They issued a “buy” rating and a $15.00 price objective on the stock.

Peakstone Realty Trust Stock Performance

Shares of NYSE PKST opened at $12.56 on Monday. The business has a 50 day simple moving average of $11.35 and a 200 day simple moving average of $12.42. Peakstone Realty Trust has a 52 week low of $9.89 and a 52 week high of $16.86. The stock has a market cap of $461.64 million, a price-to-earnings ratio of -44.86 and a beta of 2.41. 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 (NYSE:PKST) last posted its earnings results on Thursday, February 20th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.85. The firm had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $54.68 million. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. On average, research analysts predict that Peakstone Realty Trust will post 2.13 earnings per share for the current fiscal year.

Peakstone Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 7.17%. The ex-dividend date is Monday, March 31st. Peakstone Realty Trust’s dividend payout ratio is currently -321.43%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barclays PLC grew its position in shares of Peakstone Realty Trust by 318.6% in the third quarter. Barclays PLC now owns 56,078 shares of the company’s stock valued at $764,000 after purchasing an additional 42,681 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Peakstone Realty Trust by 106.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 126,483 shares of the company’s stock valued at $1,724,000 after purchasing an additional 65,137 shares during the period. Geode Capital Management LLC boosted its stake in Peakstone Realty Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 922,638 shares of the company’s stock valued at $12,578,000 after purchasing an additional 10,722 shares during the period. Jane Street Group LLC grew its holdings in Peakstone Realty Trust by 83.6% in the 3rd quarter. Jane Street Group LLC now owns 90,718 shares of the company’s stock valued at $1,236,000 after buying an additional 41,313 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Peakstone Realty Trust in the 4th quarter worth approximately $144,000. Institutional investors own 38.98% of the company’s stock.

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.