Peakstone Realty Trust (NYSE:PKST) Upgraded by UBS Group to “Strong-Buy” Rating

UBS Group upgraded shares of Peakstone Realty Trust (NYSE:PKST) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

Separately, Truist Financial increased their price objective on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th.

Peakstone Realty Trust Stock Performance

Shares of PKST stock opened at $11.54 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.24 and a quick ratio of 5.24. Peakstone Realty Trust has a one year low of $9.89 and a one year high of $16.86. The business’s 50 day simple moving average is $12.25 and its 200 day simple moving average is $12.86. The stock has a market capitalization of $419.83 million, a PE ratio of -9.78 and a beta of 2.59.

Peakstone Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.225 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.90 annualized dividend and a yield of 7.80%. Peakstone Realty Trust’s dividend payout ratio is currently -76.27%.

Hedge Funds Weigh In On Peakstone Realty Trust

Institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new stake in shares of Peakstone Realty Trust in the 3rd quarter valued at $30,000. Fortis Group Advisors LLC grew its holdings in Peakstone Realty Trust by 18.3% in the third quarter. Fortis Group Advisors LLC now owns 6,279 shares of the company’s stock worth $86,000 after purchasing an additional 970 shares during the period. FMR LLC increased its stake in Peakstone Realty Trust by 143.3% in the third quarter. FMR LLC now owns 8,982 shares of the company’s stock valued at $122,000 after purchasing an additional 5,290 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Peakstone Realty Trust during the third quarter valued at about $138,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Peakstone Realty Trust during the third quarter valued at about $141,000. 38.98% of the stock is owned by institutional investors and hedge funds.

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.