Truist Financial Cuts Peakstone Realty Trust (NYSE:PKST) Price Target to $15.00

Peakstone Realty Trust (NYSE:PKST) had its price objective decreased by Truist Financial from $17.00 to $15.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Peakstone Realty Trust Price Performance

Peakstone Realty Trust stock opened at $12.29 on Tuesday. The business’s 50-day simple moving average is $14.75 and its 200 day simple moving average is $15.74. The stock has a market cap of $446.25 million and a price-to-earnings ratio of -0.79. Peakstone Realty Trust has a 12-month low of $12.12 and a 12-month high of $47.00. The company has a quick ratio of 5.89, a current ratio of 5.89 and a debt-to-equity ratio of 1.19.

Peakstone Realty Trust (NYSE:PKST) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($1.20). Peakstone Realty Trust had a negative net margin of 216.52% and a negative return on equity of 38.73%. The firm had revenue of $63.06 million during the quarter, compared to the consensus estimate of $62.07 million. As a group, research analysts anticipate that Peakstone Realty Trust will post 2.82 earnings per share for the current year.

Peakstone Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders 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 yield of 7.32%. The ex-dividend date was Wednesday, March 27th. Peakstone Realty Trust’s dividend payout ratio (DPR) is currently -5.80%.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKST. BlackRock Inc. bought a new position in Peakstone Realty Trust during the second quarter worth about $58,899,000. Vanguard Group Inc. boosted its holdings in Peakstone Realty Trust by 95.9% during the fourth quarter. Vanguard Group Inc. now owns 3,571,925 shares of the company’s stock worth $71,188,000 after buying an additional 1,748,416 shares during the last quarter. Geode Capital Management LLC bought a new position in Peakstone Realty Trust during the second quarter worth about $16,858,000. State Street Corp bought a new position in shares of Peakstone Realty Trust during the 2nd quarter valued at about $15,782,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Peakstone Realty Trust during the 2nd quarter valued at about $11,887,000. Institutional investors own 38.98% of the company’s stock.

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.