Wells Fargo & Company MN Boosts Stake in Peakstone Realty Trust (NYSE:PKST)

Wells Fargo & Company MN grew its holdings in shares of Peakstone Realty Trust (NYSE:PKST) by 96.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,472 shares of the company’s stock after acquiring an additional 17,417 shares during the quarter. Wells Fargo & Company MN’s holdings in Peakstone Realty Trust were worth $393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Peakstone Realty Trust by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 929,777 shares of the company’s stock worth $10,295,000 after buying an additional 7,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Peakstone Realty Trust by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 363,410 shares of the company’s stock valued at $4,023,000 after acquiring an additional 12,403 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Peakstone Realty Trust by 64.0% in the fourth quarter. JPMorgan Chase & Co. now owns 207,463 shares of the company’s stock valued at $2,297,000 after acquiring an additional 80,980 shares during the last quarter. Sigma Planning Corp lifted its stake in Peakstone Realty Trust by 3.0% during the fourth quarter. Sigma Planning Corp now owns 144,713 shares of the company’s stock worth $1,602,000 after purchasing an additional 4,160 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Peakstone Realty Trust by 18.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 117,855 shares of the company’s stock worth $1,305,000 after purchasing an additional 18,212 shares in the last quarter. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Truist Financial raised their price objective on Peakstone Realty Trust from $13.00 to $15.00 and gave the company a “hold” rating in a report on Monday, March 24th. UBS Group initiated coverage on shares of Peakstone Realty Trust in a research note on Thursday, January 16th. They set a “buy” rating and a $15.00 price target on the stock.

Peakstone Realty Trust Stock Performance

NYSE:PKST opened at $11.53 on Monday. 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 has a fifty-two week low of $9.89 and a fifty-two week high of $16.26. The business has a 50 day moving average price of $12.01 and a 200-day moving average price of $11.98. The firm has a market cap of $423.79 million, a PE ratio of -41.18 and a beta of 1.73.

Peakstone Realty Trust (NYSE:PKST) last released its quarterly earnings data 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. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. The firm had revenue of $57.93 million for the quarter, compared to analysts’ expectations of $54.68 million. Equities research analysts predict that Peakstone Realty Trust will post 2.13 earnings per share for the current year.

Peakstone Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 7.81%. The ex-dividend date of this dividend was Monday, March 31st. Peakstone Realty Trust’s dividend payout ratio (DPR) is currently -321.43%.

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.