Peakstone Realty Trust (NYSE:PKST) Posts Quarterly Earnings Results

Peakstone Realty Trust (NYSE:PKST) announced its quarterly earnings results on Tuesday. The company reported ($0.47) earnings per share for the quarter, FiscalAI reports. The business had revenue of $25.66 million for the quarter. Peakstone Realty Trust had a negative return on equity of 39.44% and a negative net margin of 189.03%.

Peakstone Realty Trust Stock Down 0.0%

Shares of Peakstone Realty Trust stock traded down $0.01 during trading hours on Wednesday, hitting $20.99. 878,138 shares of the company’s stock traded hands, compared to its average volume of 339,889. Peakstone Realty Trust has a twelve month low of $10.80 and a twelve month high of $21.00. The company has a market cap of $780.22 million, a PE ratio of -2.50 and a beta of 1.11. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $20.89 and a 200-day simple moving average of $17.15.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PKST. UBS Group lowered Peakstone Realty Trust from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $21.00 in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a report on Thursday, January 22nd. Finally, Truist Financial downgraded shares of Peakstone Realty Trust from a “buy” rating to a “hold” rating and increased their price objective for the company from $19.00 to $21.00 in a research report on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $21.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Independent Financial Group LLC purchased a new stake in Peakstone Realty Trust during the 1st quarter worth approximately $449,000. ABC Arbitrage SA purchased a new position in shares of Peakstone Realty Trust during the 1st quarter valued at approximately $874,000. Credit Industriel ET Commercial purchased a new position in shares of Peakstone Realty Trust during the 1st quarter valued at approximately $3,760,000. Financial Life Planners acquired a new stake in shares of Peakstone Realty Trust during the first quarter worth approximately $70,000. Finally, SHP Wealth Management bought a new stake in shares of Peakstone Realty Trust in the fourth quarter worth $98,000. Hedge funds and other institutional investors own 38.98% of the company’s stock.

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.