K2 Principal Fund L.P. Purchases 28,700 Shares of Peakstone Realty Trust $PKST

Key Points

• K2 Principal Fund L.P. increased its stake in Peakstone Realty Trust by 74.0%, acquiring an additional 28,700 shares to bring its total holdings to 67,509 shares, valued at approximately $851,000.
• Recently, several analysts upgraded Peakstone Realty Trust's stock, with UBS raising its price target from $15.00 to $16.00 and Truist Financial increasing it to $19.00, reflecting a consensus average price target of $17.50.
• Peakstone Realty Trust announced a quarterly dividend of $0.10, with an annualized yield of 3.0%, despite a negative dividend payout ratio of -10.12%.

K2 Principal Fund L.P. lifted its stake in shares of Peakstone Realty Trust (NYSE:PKST - Free Report) by 74.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,509 shares of the company's stock after acquiring an additional 28,700 shares during the quarter. K2 Principal Fund L.P. owned about 0.18% of Peakstone Realty Trust worth $851,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PKST. Raymond James Financial Inc. bought a new stake in Peakstone Realty Trust during the 4th quarter valued at approximately $145,000. Barclays PLC boosted its stake in Peakstone Realty Trust by 11.6% during the 4th quarter. Barclays PLC now owns 62,602 shares of the company's stock valued at $693,000 after purchasing an additional 6,524 shares during the period. First Trust Advisors LP bought a new stake in Peakstone Realty Trust during the 4th quarter valued at approximately $127,000. Dimensional Fund Advisors LP boosted its stake in Peakstone Realty Trust by 98.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 48,985 shares of the company's stock valued at $542,000 after purchasing an additional 24,266 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Peakstone Realty Trust by 24.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,591 shares of the company's stock valued at $162,000 after acquiring an additional 2,862 shares in the last quarter. Institutional investors own 38.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial raised Peakstone Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the company from $16.00 to $19.00 in a report on Wednesday, September 3rd. UBS Group increased their target price on Peakstone Realty Trust from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.50.

Peakstone Realty Trust Price Performance

NYSE PKST traded down $0.21 during trading hours on Wednesday, reaching $13.20. 45,267 shares of the company's stock were exchanged, compared to its average volume of 183,546. The stock has a market cap of $485.64 million, a PE ratio of -1.49 and a beta of 1.76. Peakstone Realty Trust has a one year low of $10.14 and a one year high of $16.26. The firm has a fifty day moving average of $13.26 and a 200-day moving average of $12.59. The company has a current ratio of 5.02, a quick ratio of 5.02 and a debt-to-equity ratio of 1.61.

Peakstone Realty Trust Cuts Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.0%. Peakstone Realty Trust's dividend payout ratio is -4.50%.

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.