Peakstone Realty Trust (NYSE:PKST) Sees Large Decline in Short Interest

Peakstone Realty Trust (NYSE:PKST) saw a significant decrease in short interest in March. As of March 13th, there was short interest totaling 798,672 shares, a decrease of 26.2% from the February 26th total of 1,081,825 shares. Based on an average trading volume of 648,594 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PKST. Truist Financial cut Peakstone Realty Trust from a “buy” rating to a “hold” rating and lifted their price objective for the company from $19.00 to $21.00 in a report on Tuesday, February 3rd. UBS Group cut Peakstone Realty Trust from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $21.00 in a research note on Monday, February 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Peakstone Realty Trust in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $21.00.

Institutional Investors Weigh In On Peakstone Realty Trust

Several institutional investors have recently bought and sold shares of the company. Assetmark Inc. boosted its position in Peakstone Realty Trust by 2,542.3% during the 3rd quarter. Assetmark Inc. now owns 1,876 shares of the company’s stock worth $25,000 after acquiring an additional 1,805 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Peakstone Realty Trust by 101.4% in the third quarter. Farther Finance Advisors LLC now owns 2,000 shares of the company’s stock valued at $26,000 after purchasing an additional 1,007 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Peakstone Realty Trust in the second quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Peakstone Realty Trust in the second quarter worth $35,000. Finally, Financial Life Planners bought a new stake in shares of Peakstone Realty Trust in the third quarter worth $44,000. Institutional investors own 38.98% of the company’s stock.

Peakstone Realty Trust Stock Down 0.1%

PKST stock traded down $0.02 during trading hours on Friday, reaching $20.87. 273,717 shares of the stock were exchanged, compared to its average volume of 540,759. The firm’s 50-day moving average is $19.56 and its 200-day moving average is $15.80. Peakstone Realty Trust has a 12 month low of $10.70 and a 12 month high of $20.97. The company has a market cap of $775.76 million, a price-to-earnings ratio of -2.49 and a beta of 1.46. 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 issued its quarterly earnings results on Wednesday, February 18th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.66). The firm had revenue of $25.99 million during the quarter, compared to the consensus estimate of $28.57 million. Peakstone Realty Trust had a negative net margin of 189.03% and a negative return on equity of 39.44%. On average, equities research analysts expect that Peakstone Realty Trust will post 2.13 earnings per share for the current year.

About Peakstone Realty Trust

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.