Peakstone Realty Trust (NYSE:PKST) Sets New 12-Month High After Dividend Announcement

Peakstone Realty Trust (NYSE:PKST) hit a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $14.45 and last traded at $14.3450, with a volume of 369014 shares trading hands. The stock had previously closed at $13.28.

The newly announced dividend which will be paid on Monday, January 19th. Stockholders of record on Wednesday, December 31st will be given a $0.10 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.8%. Peakstone Realty Trust’s payout ratio is -4.50%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Peakstone Realty Trust in a research report on Wednesday, October 8th. UBS Group raised their price objective on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Truist Financial raised shares of Peakstone Realty Trust from a “hold” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $19.00 in a research report on Wednesday, September 3rd. Finally, Zacks Research raised shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.50.

Peakstone Realty Trust Trading Up 8.0%

The business has a fifty day moving average of $13.32 and a 200-day moving average of $12.99. The company has a debt-to-equity ratio of 1.61, a quick ratio of 5.02 and a current ratio of 5.02. The company has a market capitalization of $527.77 million, a P/E ratio of -1.61 and a beta of 1.76.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of large investors have recently modified their holdings of PKST. GAMMA Investing LLC boosted its holdings in Peakstone Realty Trust by 274.9% during the 1st quarter. GAMMA Investing LLC now owns 5,949 shares of the company’s stock worth $75,000 after acquiring an additional 4,362 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Peakstone Realty Trust during the first quarter valued at approximately $129,000. Bank of New York Mellon Corp lifted its holdings in Peakstone Realty Trust by 19.9% during the first quarter. Bank of New York Mellon Corp now owns 136,399 shares of the company’s stock worth $1,719,000 after acquiring an additional 22,625 shares during the period. Allworth Financial LP boosted its position in Peakstone Realty Trust by 26.3% in the first quarter. Allworth Financial LP now owns 4,418 shares of the company’s stock worth $53,000 after purchasing an additional 919 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Peakstone Realty Trust in the 1st quarter valued at $58,000. 38.98% of the stock is currently owned by institutional investors.

About Peakstone Realty Trust

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.