Brookwood Investment Group LLC Takes Position in Peakstone Realty Trust (NYSE:PKST)

Key Points

• Brookwood Investment Group LLC has acquired a new position in Peakstone Realty Trust, purchasing 23,614 shares valued at approximately $298,000, representing a 0.06% ownership stake.
• Peakstone Realty Trust recently declared a quarterly dividend of $0.225 per share, which results in an annualized dividend of $0.90 and a yield of 6.52%.
• Analysts have set new price targets for Peakstone Realty Trust, with Truist Financial raising its target from $15.00 to $16.00 while maintaining a "hold" rating.

Brookwood Investment Group LLC acquired a new stake in Peakstone Realty Trust (NYSE:PKST - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,614 shares of the company's stock, valued at approximately $298,000. Brookwood Investment Group LLC owned 0.06% of Peakstone Realty Trust as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sigma Planning Corp grew its holdings in shares of Peakstone Realty Trust by 8.4% during the first quarter. Sigma Planning Corp now owns 156,871 shares of the company's stock worth $1,977,000 after buying an additional 12,158 shares in the last quarter. CWM LLC grew its holdings in shares of Peakstone Realty Trust by 3.5% during the first quarter. CWM LLC now owns 65,084 shares of the company's stock worth $820,000 after buying an additional 2,182 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Peakstone Realty Trust during the first quarter worth about $58,000. Allworth Financial LP grew its holdings in shares of Peakstone Realty Trust by 26.3% during the first quarter. Allworth Financial LP now owns 4,418 shares of the company's stock worth $53,000 after buying an additional 919 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Peakstone Realty Trust by 19.9% during the first quarter. Bank of New York Mellon Corp now owns 136,399 shares of the company's stock worth $1,719,000 after buying an additional 22,625 shares in the last quarter. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PKST. UBS Group raised their target price on shares of Peakstone Realty Trust from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Truist Financial lifted their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd.

Peakstone Realty Trust Price Performance

PKST stock traded down $0.04 during trading on Tuesday, hitting $14.01. The company had a trading volume of 34,422 shares, compared to its average volume of 183,638. The firm has a market capitalization of $514.96 million, a price-to-earnings ratio of -7.91 and a beta of 1.74. The business has a 50 day moving average of $13.18 and a 200 day moving average of $12.13. Peakstone Realty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $16.26. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 1.25.

Peakstone Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were issued a $0.225 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.43%. Peakstone Realty Trust's dividend payout ratio is -50.85%.

Peakstone Realty Trust Company 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.