Peakstone Realty Trust (NYSE:PKST) Sees Large Growth in Short Interest

Peakstone Realty Trust (NYSE:PKST) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 2,378,147 shares, a growth of 24.4% from the December 15th total of 1,911,815 shares. Based on an average trading volume of 242,522 shares, the days-to-cover ratio is currently 9.8 days. Currently, 6.5% of the company’s shares are sold short. Currently, 6.5% of the company’s shares are sold short. Based on an average trading volume of 242,522 shares, the days-to-cover ratio is currently 9.8 days.

Institutional Trading of Peakstone Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. raised its stake in Peakstone Realty Trust by 2,542.3% during the third quarter. Assetmark Inc. now owns 1,876 shares of the company’s stock valued at $25,000 after buying an additional 1,805 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Peakstone Realty Trust in the 2nd quarter worth about $26,000. Farther Finance Advisors LLC boosted its stake in Peakstone Realty Trust by 101.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 1,007 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Peakstone Realty Trust during the 2nd quarter valued at about $35,000. Finally, Financial Life Planners purchased a new stake in Peakstone Realty Trust during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 38.98% of the company’s stock.

Peakstone Realty Trust Stock Performance

Shares of Peakstone Realty Trust stock remained flat at $13.99 during trading on Friday. 253,022 shares of the company traded hands, compared to its average volume of 188,251. Peakstone Realty Trust has a 52 week low of $10.35 and a 52 week high of $15.40. The company has a debt-to-equity ratio of 1.34, a current ratio of 5.97 and a quick ratio of 5.97. The business’s 50 day moving average price is $14.07 and its two-hundred day moving average price is $13.59. The firm has a market capitalization of $514.69 million, a P/E ratio of -1.72 and a beta of 1.71.

Peakstone Realty Trust Dividend Announcement

The firm also recently announced 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. This represents a $0.40 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, December 31st. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -4.92%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research upgraded shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen downgraded shares of Peakstone Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.50.

About Peakstone Realty Trust

Peakstone Realty Trust, Inc (NYSE: PKST) is a publicly traded real estate investment trust focused on the acquisition, ownership and operation of necessity-based retail and distribution properties. The company specializes in grocery-anchored shopping centers, community and neighborhood retail assets, and a growing portfolio of cold storage and distribution facilities. Peakstone generates rental income under long-term leases with a mix of national grocers, drugstore chains and logistics tenants.

Peakstone’s retail portfolio is anchored by investment-grade tenants in densely populated trade areas, providing tenants with essential goods and services and supporting resilient occupancy and cash flow.