Modern Wealth Management LLC Purchases Shares of 10,607 Peakstone Realty Trust (NYSE:PKST)

Modern Wealth Management LLC acquired a new position in shares of Peakstone Realty Trust (NYSE:PKST) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,607 shares of the company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Peakstone Realty Trust by 106.2% during the third quarter. JPMorgan Chase & Co. now owns 126,483 shares of the company’s stock worth $1,724,000 after acquiring an additional 65,137 shares during the period. Captrust Financial Advisors acquired a new position in shares of Peakstone Realty Trust during the 3rd quarter worth approximately $781,000. Meixler Investment Management Ltd. bought a new position in shares of Peakstone Realty Trust during the fourth quarter worth approximately $603,000. Barclays PLC raised its position in shares of Peakstone Realty Trust by 318.6% in the third quarter. Barclays PLC now owns 56,078 shares of the company’s stock valued at $764,000 after buying an additional 42,681 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Peakstone Realty Trust by 83.6% in the third quarter. Jane Street Group LLC now owns 90,718 shares of the company’s stock valued at $1,236,000 after buying an additional 41,313 shares during the period. Institutional investors and hedge funds own 38.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday, March 24th. UBS Group began coverage on Peakstone Realty Trust in a research note on Thursday, January 16th. They issued a “buy” rating and a $15.00 price target for the company.

Peakstone Realty Trust Stock Performance

NYSE PKST opened at $12.46 on Friday. The firm’s 50 day simple moving average is $11.40 and its 200 day simple moving average is $12.41. The firm has a market capitalization of $458.08 million, a price-to-earnings ratio of -44.51 and a beta of 2.41. 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 $16.26.

Peakstone Realty Trust (NYSE:PKST) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.85. Peakstone Realty Trust had a negative return on equity of 0.85% and a negative net margin of 4.38%. The company had revenue of $57.93 million for the quarter, compared to analyst estimates of $54.68 million. As a group, research analysts expect that Peakstone Realty Trust will post 2.13 earnings per share for the current fiscal year.

Peakstone Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $0.225 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.22%. Peakstone Realty Trust’s dividend payout ratio (DPR) is currently -321.43%.

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.