Peakstone Realty Trust (NYSE:PKST) Sets New 1-Year High – Still a Buy?

Shares of Peakstone Realty Trust (NYSE:PKST) hit a new 52-week high during trading on Friday . The company traded as high as $15.75 and last traded at $15.3160, with a volume of 29539 shares traded. The stock had previously closed at $15.04.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PKST shares. Zacks Research raised shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Wall Street Zen cut Peakstone Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.50.

Peakstone Realty Trust Price Performance

The firm has a market capitalization of $559.21 million, a P/E ratio of -1.87 and a beta of 1.71. The stock’s fifty day simple moving average is $14.11 and its 200 day simple moving average is $13.64. The company has a debt-to-equity ratio of 1.34, a current ratio of 5.97 and a quick ratio of 5.97.

Peakstone Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 19th. Shareholders of record on Wednesday, December 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.6%. The ex-dividend date was Wednesday, December 31st. Peakstone Realty Trust’s dividend payout ratio (DPR) is -4.92%.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of large investors have recently made changes to their positions in the business. Centaurus Financial Inc. grew its stake in Peakstone Realty Trust by 3.1% during the 2nd quarter. Centaurus Financial Inc. now owns 1,362,668 shares of the company’s stock worth $18,001,000 after buying an additional 40,514 shares during the last quarter. Conversant Capital LLC purchased a new stake in Peakstone Realty Trust in the second quarter valued at about $15,652,000. Voya Investment Management LLC boosted its holdings in Peakstone Realty Trust by 14.8% in the third quarter. Voya Investment Management LLC now owns 205,069 shares of the company’s stock worth $2,691,000 after acquiring an additional 26,437 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Peakstone Realty Trust by 50.8% in the third quarter. Dimensional Fund Advisors LP now owns 195,536 shares of the company’s stock worth $2,565,000 after acquiring an additional 65,899 shares in the last quarter. Finally, Strs Ohio grew its stake in shares of Peakstone Realty Trust by 2,305.6% during the third quarter. Strs Ohio now owns 170,800 shares of the company’s stock worth $2,241,000 after acquiring an additional 163,700 shares during the last quarter. 38.98% of the stock is owned by institutional investors and hedge funds.

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.