Peakstone Realty Trust (NYSE:PKST) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Peakstone Realty Trust (NYSE:PKST) from a hold rating to a sell rating in a research report report published on Saturday.

Several other brokerages have also recently issued reports on PKST. UBS Group raised their target price on Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Peakstone Realty Trust in a report on Wednesday, October 8th. Truist Financial upgraded shares of Peakstone Realty Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $16.00 to $19.00 in a research report on Wednesday, September 3rd. Finally, Zacks Research upgraded shares of Peakstone Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.50.

Peakstone Realty Trust Stock Performance

PKST stock opened at $13.91 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 5.97 and a quick ratio of 5.97. Peakstone Realty Trust has a 1 year low of $10.14 and a 1 year high of $15.40. The company has a market cap of $511.90 million, a P/E ratio of -1.71 and a beta of 1.76. The stock’s fifty day moving average price is $13.53 and its 200-day moving average price is $13.11.

Peakstone Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 19th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.40 annualized dividend and a yield of 2.9%. Peakstone Realty Trust’s payout ratio is currently -4.92%.

Institutional Trading of Peakstone Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of PKST. Invesco Ltd. lifted its holdings in Peakstone Realty Trust by 23.3% in the 1st quarter. Invesco Ltd. now owns 832,315 shares of the company’s stock worth $10,487,000 after purchasing an additional 157,267 shares in the last quarter. Brookwood Investment Group LLC bought a new stake in shares of Peakstone Realty Trust during the first quarter valued at approximately $298,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Peakstone Realty Trust by 69.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 615,268 shares of the company’s stock worth $7,752,000 after buying an additional 251,858 shares in the last quarter. TCW Group Inc. purchased a new position in shares of Peakstone Realty Trust in the first quarter worth $1,717,000. Finally, Allworth Financial LP boosted its position in shares of Peakstone Realty Trust by 26.3% during the first quarter. Allworth Financial LP now owns 4,418 shares of the company’s stock worth $53,000 after acquiring an additional 919 shares during the last quarter. 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.