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

Peakstone Realty Trust (NYSE:PKST) had its price target dropped by equities research analysts at Truist Financial from $17.00 to $15.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 21.90% from the stock’s previous close.

Peakstone Realty Trust Price Performance

Shares of NYSE:PKST opened at $12.31 on Tuesday. The company’s 50-day moving average is $14.81 and its 200 day moving average is $15.77. The company has a debt-to-equity ratio of 1.19, a quick ratio of 5.89 and a current ratio of 5.89. The company has a market capitalization of $446.79 million and a P/E ratio of -0.79. Peakstone Realty Trust has a fifty-two week low of $12.27 and a fifty-two week high of $47.00.

Peakstone Realty Trust (NYSE:PKST) last issued its quarterly 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 company had revenue of $63.06 million during the quarter, compared to analysts’ expectations of $62.07 million. Peakstone Realty Trust had a negative return on equity of 38.73% and a negative net margin of 216.52%. On average, equities research analysts forecast that Peakstone Realty Trust will post 2.82 earnings per share for the current year.

Institutional Investors Weigh In On Peakstone Realty Trust

Several institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its holdings in Peakstone Realty Trust by 34.6% during the third quarter. Sunbelt Securities Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 703 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Peakstone Realty Trust by 4.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,620 shares of the company’s stock valued at $451,000 after purchasing an additional 1,000 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Peakstone Realty Trust by 6.4% during the third quarter. SeaCrest Wealth Management LLC now owns 17,139 shares of the company’s stock valued at $285,000 after purchasing an additional 1,024 shares during the last quarter. Tsfg LLC lifted its holdings in Peakstone Realty Trust by 128.1% during the first quarter. Tsfg LLC now owns 2,051 shares of the company’s stock valued at $33,000 after purchasing an additional 1,152 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its holdings in Peakstone Realty Trust by 12.1% during the third quarter. SageView Advisory Group LLC now owns 11,612 shares of the company’s stock valued at $193,000 after purchasing an additional 1,254 shares during the last quarter. 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.