Envestnet Asset Management Inc. Boosts Holdings in Peakstone Realty Trust $PKST

Envestnet Asset Management Inc. grew its stake in shares of Peakstone Realty Trust (NYSE:PKST) by 23.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,573 shares of the company’s stock after purchasing an additional 5,165 shares during the period. Envestnet Asset Management Inc.’s holdings in Peakstone Realty Trust were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Peakstone Realty Trust by 19.9% during the 1st quarter. Bank of New York Mellon Corp now owns 136,399 shares of the company’s stock valued at $1,719,000 after acquiring an additional 22,625 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Peakstone Realty Trust by 5.3% in the 1st quarter. Arkadios Wealth Advisors now owns 18,146 shares of the company’s stock valued at $229,000 after purchasing an additional 911 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Peakstone Realty Trust during the first quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. grew its stake in Peakstone Realty Trust by 69.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 615,268 shares of the company’s stock worth $7,752,000 after purchasing an additional 251,858 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Peakstone Realty Trust by 17.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,506 shares of the company’s stock worth $334,000 after purchasing an additional 3,886 shares in the last quarter. 38.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group boosted their target price on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, August 15th. Truist Financial raised shares of Peakstone Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $16.00 to $19.00 in a research report on Wednesday, September 3rd. Zacks Research raised shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Peakstone Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.50.

Peakstone Realty Trust Stock Performance

Shares of PKST stock opened at $13.51 on Thursday. Peakstone Realty Trust has a one year low of $10.14 and a one year high of $15.40. The company’s 50-day moving average is $13.53 and its 200 day moving average is $13.23. The company has a market capitalization of $497.03 million, a price-to-earnings ratio of -1.66 and a beta of 1.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 5.97 and a current ratio of 5.97.

Peakstone Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 19th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.0%. Peakstone Realty Trust’s dividend payout ratio is presently -4.92%.

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.