Vestcor Inc Takes Position in Peakstone Realty Trust (NYSE:PKST)

Vestcor Inc bought a new stake in Peakstone Realty Trust (NYSE:PKST) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 17,593 shares of the company’s stock, valued at approximately $195,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Concorde Asset Management LLC raised its holdings in shares of Peakstone Realty Trust by 42.9% in the third quarter. Concorde Asset Management LLC now owns 33,793 shares of the company’s stock valued at $461,000 after buying an additional 10,149 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Peakstone Realty Trust by 4.1% in the third quarter. Centaurus Financial Inc. now owns 1,253,223 shares of the company’s stock valued at $17,081,000 after buying an additional 49,769 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new position in shares of Peakstone Realty Trust in the third quarter valued at about $483,000. Daiwa Securities Group Inc. raised its holdings in shares of Peakstone Realty Trust by 10.6% in the third quarter. Daiwa Securities Group Inc. now owns 12,010 shares of the company’s stock valued at $164,000 after buying an additional 1,148 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of 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 buying an additional 5,290 shares during the last quarter. Institutional investors and hedge funds own 38.98% of the company’s stock.

Peakstone Realty Trust Stock Performance

Shares of NYSE:PKST opened at $12.61 on Wednesday. The stock has a market capitalization of $463.63 million, a P/E ratio of -45.05 and a beta of 2.40. Peakstone Realty Trust has a 1-year low of $9.89 and a 1-year high of $16.86. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $11.09 and a two-hundred day moving average price of $12.43.

Peakstone Realty Trust (NYSE:PKST) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.85. The firm had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $54.68 million. Peakstone Realty Trust had a negative return on equity of 0.85% and a negative net margin of 4.38%. Equities analysts predict that Peakstone Realty Trust will post 2.13 earnings per share for the current year.

Peakstone Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.225 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.13%. Peakstone Realty Trust’s dividend payout ratio (DPR) is presently -321.43%.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on Peakstone Realty Trust in a report on Thursday, January 16th. They set a “buy” rating and a $15.00 price objective for the company.

Peakstone Realty Trust 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.