Peakstone Realty Trust (NYSE:PKST) Shares Purchased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC lifted its stake in Peakstone Realty Trust (NYSE:PKST) by 125.9% in the fourth quarter, HoldingsChannel reports. The fund owned 72,888 shares of the company’s stock after purchasing an additional 40,626 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Peakstone Realty Trust were worth $807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PKST. ARS Investment Partners LLC bought a new position in Peakstone Realty Trust during the fourth quarter valued at about $299,000. JPMorgan Chase & Co. boosted its position in shares of Peakstone Realty Trust by 106.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 126,483 shares of the company’s stock valued at $1,724,000 after purchasing an additional 65,137 shares in the last quarter. Barclays PLC boosted its position in shares of Peakstone Realty Trust by 318.6% during the 3rd quarter. Barclays PLC now owns 56,078 shares of the company’s stock valued at $764,000 after purchasing an additional 42,681 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Peakstone Realty Trust by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 922,638 shares of the company’s stock worth $12,578,000 after purchasing an additional 10,722 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Peakstone Realty Trust by 9.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 47,000 shares of the company’s stock worth $641,000 after purchasing an additional 4,000 shares in the last quarter. 38.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. UBS Group started coverage on Peakstone Realty Trust in a research note on Thursday, January 16th. They set a “buy” rating and a $15.00 price objective for the company.

Peakstone Realty Trust Price Performance

NYSE PKST opened at $11.23 on Wednesday. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.03. Peakstone Realty Trust has a 1 year low of $9.89 and a 1 year high of $16.86. The company has a market cap of $408.61 million, a PE ratio of -9.52 and a beta of 2.59. The stock’s 50-day moving average price is $12.09 and its two-hundred day moving average price is $12.90.

Peakstone Realty Trust (NYSE:PKST) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.34). Peakstone Realty Trust had a negative net margin of 18.26% and a negative return on equity of 3.61%. The firm had revenue of $54.96 million for the quarter, compared to analyst estimates of $57.76 million. During the same quarter in the prior year, the firm earned $0.78 EPS. On average, analysts predict that Peakstone Realty Trust will post 2.46 EPS for the current year.

Peakstone Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a $0.225 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.90 annualized dividend and a dividend yield of 8.01%. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -76.27%.

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.