Peakstone Realty Trust (NYSE:PKST) Posts Earnings Results

Peakstone Realty Trust (NYSE:PKST) issued its quarterly earnings data on Wednesday. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.66), Zacks reports. Peakstone Realty Trust had a negative net margin of 189.03% and a negative return on equity of 38.33%. The business had revenue of $25.99 million for the quarter, compared to analyst estimates of $28.57 million.

Peakstone Realty Trust Stock Performance

PKST traded up $0.05 during trading on Friday, hitting $20.81. 426,197 shares of the company traded hands, compared to its average volume of 787,379. Peakstone Realty Trust has a one year low of $10.35 and a one year high of $20.97. The stock’s fifty day moving average is $16.11 and its 200 day moving average is $14.33. The company has a quick ratio of 5.97, a current ratio of 5.97 and a debt-to-equity ratio of 1.34. The firm has a market cap of $765.42 million, a P/E ratio of -2.48 and a beta of 1.70.

Wall Street Analysts Forecast Growth

PKST has been the subject of a number of recent research reports. Truist Financial lowered Peakstone Realty Trust from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $19.00 to $21.00 in a report on Tuesday, February 3rd. UBS Group cut Peakstone Realty Trust from a “buy” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $21.00 in a research report on Monday, February 2nd. Wall Street Zen lowered Peakstone Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $21.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PKST. Conversant Capital LLC bought a new stake in shares of Peakstone Realty Trust in the 2nd quarter worth approximately $15,652,000. J. Goldman & Co LP increased its position in Peakstone Realty Trust by 26.7% in the fourth quarter. J. Goldman & Co LP now owns 952,107 shares of the company’s stock worth $13,663,000 after buying an additional 200,708 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Peakstone Realty Trust by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 928,589 shares of the company’s stock valued at $13,325,000 after buying an additional 145,059 shares during the period. TCW Group Inc. lifted its position in shares of Peakstone Realty Trust by 26.7% during the 4th quarter. TCW Group Inc. now owns 473,800 shares of the company’s stock valued at $6,799,000 after buying an additional 99,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Peakstone Realty Trust by 14.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock worth $3,211,000 after acquiring an additional 28,234 shares during the period. 38.98% of the stock is owned by institutional investors.

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.