Invesco Ltd. Purchases 157,267 Shares of Peakstone Realty Trust $PKST

Key Points

• Invesco Ltd. has increased its stake in Peakstone Realty Trust by 23.3% during the first quarter, now owning 832,315 shares valued at approximately $10.49 million.
• Institutional ownership of Peakstone Realty Trust stands at 38.98%, with significant increases from firms like Charles Schwab and Centaurus Financial in recent months.
• Analysts project a moderate buy rating for Peakstone Realty Trust, with a target price increase to $16.00 based on recent reports.

Invesco Ltd. lifted its position in shares of Peakstone Realty Trust (NYSE:PKST - Free Report) by 23.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 832,315 shares of the company's stock after acquiring an additional 157,267 shares during the period. Invesco Ltd. owned 2.26% of Peakstone Realty Trust worth $10,487,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC bought a new position in Peakstone Realty Trust in the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Peakstone Realty Trust during the fourth quarter valued at about $34,000. Ameriflex Group Inc. purchased a new stake in Peakstone Realty Trust during the fourth quarter valued at about $36,000. Quarry LP purchased a new stake in Peakstone Realty Trust during the fourth quarter valued at about $49,000. Finally, Allworth Financial LP lifted its stake in Peakstone Realty Trust by 26.3% during the first quarter. Allworth Financial LP now owns 4,418 shares of the company's stock valued at $53,000 after buying an additional 919 shares in the last quarter. Institutional investors own 38.98% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. UBS Group increased their price target on shares of Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Peakstone Realty Trust Stock Down 0.5%

PKST traded down $0.07 during midday trading on Friday, hitting $12.70. 155,595 shares of the company's stock traded hands, compared to its average volume of 195,645. The company has a market cap of $467.05 million, a PE ratio of -1.43 and a beta of 1.76. The stock's fifty day simple moving average is $13.28 and its 200-day simple moving average is $12.47. The company has a debt-to-equity ratio of 1.61, a current ratio of 5.02 and a quick ratio of 5.02. Peakstone Realty Trust has a one year low of $10.14 and a one year high of $16.26.

Peakstone Realty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Peakstone Realty Trust's dividend payout ratio (DPR) is presently -10.12%.

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.