Peakstone Realty Trust (NYSE:PKST) Holdings Trimmed by TCP Asset Management LLC

TCP Asset Management LLC lowered its holdings in Peakstone Realty Trust (NYSE:PKST) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,583 shares of the company’s stock after selling 5,756 shares during the period. TCP Asset Management LLC owned approximately 0.27% of Peakstone Realty Trust worth $1,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Peakstone Realty Trust during the third quarter worth approximately $30,000. Fortis Group Advisors LLC lifted its position in Peakstone Realty Trust by 18.3% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,279 shares of the company’s stock worth $86,000 after buying an additional 970 shares in the last quarter. FMR LLC boosted its stake in shares of Peakstone Realty Trust by 143.3% during the 3rd quarter. FMR LLC now owns 8,982 shares of the company’s stock valued at $122,000 after buying an additional 5,290 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of Peakstone Realty Trust during the 3rd quarter valued at $138,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Peakstone Realty Trust in the third quarter worth $141,000. Institutional investors and hedge funds own 38.98% of the company’s stock.

Analysts Set New Price Targets

PKST has been the subject of a number of research reports. Truist Financial lifted their price objective on Peakstone Realty Trust from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. UBS Group began coverage on Peakstone Realty Trust in a report on Thursday. They set a “buy” rating and a $15.00 price target for the company.

Peakstone Realty Trust Stock Performance

Shares of PKST opened at $11.24 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.24 and a current ratio of 5.24. Peakstone Realty Trust has a 12 month low of $9.89 and a 12 month high of $16.86. The company’s fifty day moving average is $12.14 and its 200-day moving average is $12.86.

Peakstone Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.225 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.90 annualized dividend and a yield of 8.00%. Peakstone Realty Trust’s dividend payout ratio (DPR) is currently -76.27%.

Peakstone Realty Trust 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.