Peakstone Realty Trust (NYSE:PKST) Reaches New 52-Week High – Should You Buy?

Peakstone Realty Trust (NYSE:PKST)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $21.04 and last traded at $20.8950, with a volume of 212 shares traded. The stock had previously closed at $20.90.

Wall Street Analysts Forecast Growth

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

Peakstone Realty Trust Price Performance

The stock has a 50 day simple moving average of $20.50 and a two-hundred day simple moving average of $16.17. The company has a market cap of $777.62 million, a price-to-earnings ratio of -2.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.83 and a quick ratio of 2.83.

Peakstone Realty Trust (NYSE:PKST) last released its quarterly earnings data on Wednesday, February 18th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.66). The company had revenue of $25.99 million for the quarter, compared to analyst estimates of $28.57 million. Peakstone Realty Trust had a negative return on equity of 39.44% and a negative net margin of 189.03%. On average, equities research analysts predict that Peakstone Realty Trust will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peakstone Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SHP Wealth Management acquired a new position in Peakstone Realty Trust during the fourth quarter worth $98,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Peakstone Realty Trust in the 4th quarter valued at $274,000. XTX Topco Ltd acquired a new position in shares of Peakstone Realty Trust in the 4th quarter valued at $153,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Peakstone Realty Trust in the 4th quarter valued at $238,000. Finally, Millennium Management LLC lifted its stake in shares of Peakstone Realty Trust by 3.6% in the 4th quarter. Millennium Management LLC now owns 126,135 shares of the company’s stock valued at $1,810,000 after purchasing an additional 4,341 shares during the last quarter. Institutional investors and hedge funds own 38.98% of the company’s stock.

Peakstone Realty Trust Company Profile

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.