Peakstone Realty Trust (NYSE:PKST) Sets New 52-Week High – Here’s What Happened

Peakstone Realty Trust (NYSE:PKST) shares hit a new 52-week high on Wednesday . The company traded as high as $21.00 and last traded at $20.9850, with a volume of 878138 shares changing hands. The stock had previously closed at $20.98.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial downgraded Peakstone Realty Trust from a “buy” rating to a “hold” rating and upped their price target for the company from $19.00 to $21.00 in a report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Peakstone Realty Trust in a research note on Monday. Finally, UBS Group downgraded Peakstone Realty Trust from a “buy” rating to a “neutral” rating and boosted their target price for the company from $17.00 to $21.00 in a report on Monday, February 2nd. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Peakstone Realty Trust currently has a consensus rating of “Reduce” and a consensus price target of $21.00.

Peakstone Realty Trust Price Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.83 and a current ratio of 2.83. The company has a 50-day simple moving average of $20.90 and a 200-day simple moving average of $17.27. The company has a market cap of $780.41 million, a price-to-earnings ratio of -2.50 and a beta of 1.11.

Peakstone Realty Trust (NYSE:PKST) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.47) earnings per share (EPS) for the quarter. Peakstone Realty Trust had a negative net margin of 189.03% and a negative return on equity of 39.44%. The company had revenue of $25.66 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in Peakstone Realty Trust by 2,542.3% in the 3rd quarter. Assetmark Inc. now owns 1,876 shares of the company’s stock valued at $25,000 after buying an additional 1,805 shares during the period. Farther Finance Advisors LLC increased its position in Peakstone Realty Trust by 101.4% during the third quarter. Farther Finance Advisors LLC now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 1,007 shares during the last quarter. Financial Life Planners purchased a new position in Peakstone Realty Trust during the third quarter worth approximately $44,000. Versant Capital Management Inc grew its stake in shares of Peakstone Realty Trust by 1,588.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,546 shares of the company’s stock valued at $47,000 after buying an additional 3,336 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Peakstone Realty Trust by 209.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,767 shares of the company’s stock valued at $50,000 after buying an additional 2,551 shares during the period. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

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.