Drive Wealth Management LLC Invests $398,000 in Peakstone Realty Trust (NYSE:PKST)

Key Points

• Drive Wealth Management LLC has acquired 31,017 shares of Peakstone Realty Trust, reflecting a new investment valued at approximately $398,000.
• Analysts at Truist Financial and UBS Group have raised their price targets for Peakstone Realty Trust to $16.00 and $15.00, respectively, indicating a positive outlook for the stock.
• Peakstone Realty Trust recently announced a quarterly dividend of $0.225 per share, equating to a yield of 6.52%.

Drive Wealth Management LLC bought a new position in Peakstone Realty Trust (NYSE:PKST - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 31,017 shares of the company's stock, valued at approximately $398,000. Drive Wealth Management LLC owned about 0.08% of Peakstone Realty Trust as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in Peakstone Realty Trust by 21.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,996 shares of the company's stock valued at $567,000 after buying an additional 8,000 shares during the period. Aurora Private Wealth Inc. acquired a new position in Peakstone Realty Trust during the 1st quarter valued at approximately $242,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Peakstone Realty Trust in the first quarter worth $129,000. GAMMA Investing LLC increased its stake in shares of Peakstone Realty Trust by 274.9% in the first quarter. GAMMA Investing LLC now owns 5,949 shares of the company's stock worth $75,000 after acquiring an additional 4,362 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in Peakstone Realty Trust by 200.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 45,336 shares of the company's stock valued at $502,000 after buying an additional 30,235 shares during the period. 38.98% of the stock is currently owned by institutional investors.

Peakstone Realty Trust Trading Down 0.7%

PKST stock traded down $0.09 during trading on Wednesday, reaching $13.72. 16,924 shares of the stock were exchanged, compared to its average volume of 182,982. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average price of $13.21 and a 200-day moving average price of $12.15. Peakstone Realty Trust has a 1 year low of $10.14 and a 1 year high of $16.26. The firm has a market capitalization of $504.48 million, a price-to-earnings ratio of -7.76 and a beta of 1.74.

Peakstone Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend was Monday, June 30th. Peakstone Realty Trust's dividend payout ratio (DPR) is currently -50.85%.

Analyst Ratings Changes

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

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.