Beacon Capital Management LLC Cuts Stock Holdings in Peakstone Realty Trust (NYSE:PKST)

Beacon Capital Management LLC trimmed its stake in Peakstone Realty Trust (NYSE:PKST) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,077 shares of the company’s stock after selling 3,776 shares during the period. Beacon Capital Management LLC owned approximately 0.15% of Peakstone Realty Trust worth $594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bare Financial Services Inc bought a new stake in Peakstone Realty Trust during the fourth quarter worth about $29,000. Tsfg LLC lifted its position in Peakstone Realty Trust by 43.0% in the 2nd quarter. Tsfg LLC now owns 2,933 shares of the company’s stock worth $31,000 after buying an additional 882 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Peakstone Realty Trust during the first quarter valued at approximately $48,000. ICA Group Wealth Management LLC bought a new position in Peakstone Realty Trust during the fourth quarter valued at approximately $63,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Peakstone Realty Trust by 168.8% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,950 shares of the company’s stock worth $112,000 after acquiring an additional 4,364 shares during the last quarter. 38.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Truist Financial lowered their target price on Peakstone Realty Trust from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday.

Peakstone Realty Trust Stock Up 8.1 %

Peakstone Realty Trust stock traded up $0.98 during trading hours on Friday, hitting $13.03. 139,748 shares of the stock traded hands, compared to its average volume of 158,925. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 1.19. The company has a market cap of $474.03 million, a PE ratio of -0.84 and a beta of 2.62. The firm’s 50-day moving average price is $12.14 and its two-hundred day moving average price is $13.41. Peakstone Realty Trust has a one year low of $9.89 and a one year high of $22.69.

Peakstone Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a $0.225 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.90 dividend on an annualized basis and a yield of 6.91%. Peakstone Realty Trust’s payout ratio is currently -5.79%.

Peakstone Realty Trust Company Profile

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.