10,607 Shares in Peakstone Realty Trust (NYSE:PKST) Bought by Modern Wealth Management LLC

Modern Wealth Management LLC acquired a new stake in Peakstone Realty Trust (NYSE:PKST) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 10,607 shares of the company’s stock, valued at approximately $112,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PKST. Spire Wealth Management bought a new stake in shares of Peakstone Realty Trust in the fourth quarter valued at about $30,000. AlphaQuest LLC acquired a new stake in Peakstone Realty Trust in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC bought a new stake in Peakstone Realty Trust in the 4th quarter valued at approximately $31,000. Financial Life Planners acquired a new position in Peakstone Realty Trust during the 4th quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Peakstone Realty Trust during the 4th quarter worth approximately $67,000. 38.98% of the stock is owned by institutional investors and hedge funds.

Peakstone Realty Trust Stock Down 1.5 %

PKST stock opened at $12.46 on Friday. The company has a market cap of $458.08 million, a price-to-earnings ratio of -44.51 and a beta of 2.41. Peakstone Realty Trust has a twelve month low of $9.89 and a twelve month high of $16.26. The business has a 50 day moving average price of $11.40 and a two-hundred day moving average price of $12.41. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.03.

Peakstone Realty Trust (NYSE:PKST) last released its earnings results on Thursday, February 20th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.85. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. The business had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $54.68 million. Analysts anticipate that Peakstone Realty Trust will post 2.13 EPS for the current fiscal year.

Peakstone Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $0.225 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.22%. Peakstone Realty Trust’s payout ratio is -321.43%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PKST. Truist Financial boosted their price objective on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, March 24th. UBS Group started coverage on shares of Peakstone Realty Trust in a research report on Thursday, January 16th. They set a “buy” rating and a $15.00 price target on the stock.

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.