Algert Global LLC Decreases Holdings in Peakstone Realty Trust (NYSE:PKST)

Algert Global LLC reduced its position in Peakstone Realty Trust (NYSE:PKST) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,816 shares of the company’s stock after selling 3,753 shares during the period. Algert Global LLC’s holdings in Peakstone Realty Trust were worth $186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management purchased a new position in Peakstone Realty Trust in the fourth quarter worth about $30,000. AlphaQuest LLC bought a new position in shares of Peakstone Realty Trust in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC purchased a new position in shares of Peakstone Realty Trust in the fourth quarter worth approximately $31,000. Financial Life Planners purchased a new position in shares of Peakstone Realty Trust in the fourth quarter worth approximately $39,000. Finally, Quarry LP bought a new stake in Peakstone Realty Trust during the fourth quarter valued at approximately $49,000. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PKST has been the topic of several recent research reports. UBS Group increased their price target on shares of Peakstone Realty Trust from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial raised their target price on Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, March 24th.

Peakstone Realty Trust Stock Up 1.6%

PKST stock opened at $12.06 on Wednesday. The business’s 50-day moving average price is $12.04 and its 200-day moving average price is $11.90. The stock has a market cap of $443.27 million, a P/E ratio of -43.07 and a beta of 1.73. 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 has a twelve month low of $9.89 and a twelve month high of $16.26.

Peakstone Realty Trust (NYSE:PKST) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $54.68 million. On average, equities research analysts forecast that Peakstone Realty Trust will post 2.13 EPS for the current year.

Peakstone Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a $0.225 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.90 dividend on an annualized basis and a yield of 7.46%. Peakstone Realty Trust’s dividend payout ratio is currently -50.85%.

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.