Peakstone Realty Trust (NYSE:PKST) Trading 5.6% Higher

Peakstone Realty Trust (NYSE:PKST)’s share price traded up 5.6% during mid-day trading on Wednesday . The company traded as high as $14.65 and last traded at $14.64. 76,481 shares changed hands during trading, a decline of 52% from the average session volume of 159,090 shares. The stock had previously closed at $13.86.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their price objective on Peakstone Realty Trust from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th.

Peakstone Realty Trust Trading Down 3.5 %

The company has a market cap of $502.89 million and a P/E ratio of -0.89. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 1.19. The business has a 50 day moving average price of $14.62 and a 200-day moving average price of $15.66.

Peakstone Realty Trust (NYSE:PKST) last posted its earnings results on Thursday, February 22nd. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($1.20). The business had revenue of $63.06 million for the quarter, compared to analyst estimates of $62.07 million. Peakstone Realty Trust had a negative return on equity of 38.73% and a negative net margin of 216.52%. Analysts forecast that Peakstone Realty Trust will post 3.03 earnings per share for the current fiscal year.

Peakstone Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 29th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date was Wednesday, March 27th. Peakstone Realty Trust’s payout ratio is presently -5.80%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PKST. Huntington National Bank acquired a new position in Peakstone Realty Trust in the 3rd quarter valued at $26,000. Fortis Group Advisors LLC acquired a new position in Peakstone Realty Trust in the 3rd quarter valued at $26,000. Bare Financial Services Inc acquired a new position in Peakstone Realty Trust in the 4th quarter valued at $29,000. Tsfg LLC grew its holdings in Peakstone Realty Trust by 128.1% in the 1st quarter. Tsfg LLC now owns 2,051 shares of the company’s stock valued at $33,000 after buying an additional 1,152 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Peakstone Realty Trust in the 3rd quarter valued at $42,000. 38.98% of the stock is owned by institutional investors and hedge funds.

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.