Millennium Management LLC Reduces Stock Holdings in Peakstone Realty Trust (NYSE:PKST)

Millennium Management LLC lessened its holdings in Peakstone Realty Trust (NYSE:PKST - Free Report) by 17.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,816 shares of the company's stock after selling 20,110 shares during the quarter. Millennium Management LLC owned approximately 0.27% of Peakstone Realty Trust worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Peakstone Realty Trust by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 929,777 shares of the company's stock worth $10,295,000 after purchasing an additional 7,139 shares during the last quarter. Invesco Ltd. increased its stake in Peakstone Realty Trust by 458.1% in the 4th quarter. Invesco Ltd. now owns 675,048 shares of the company's stock worth $7,473,000 after buying an additional 554,091 shares during the period. Northern Trust Corp lifted its holdings in Peakstone Realty Trust by 16.4% during the 4th quarter. Northern Trust Corp now owns 370,451 shares of the company's stock valued at $4,101,000 after buying an additional 52,119 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Peakstone Realty Trust by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,410 shares of the company's stock valued at $4,023,000 after buying an additional 12,403 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Peakstone Realty Trust by 64.0% in the 4th quarter. JPMorgan Chase & Co. now owns 207,463 shares of the company's stock valued at $2,297,000 after buying an additional 80,980 shares during the period. Hedge funds and other institutional investors own 38.98% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PKST shares. UBS Group upped their price objective 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. Truist Financial upped 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.

Peakstone Realty Trust Stock Up 1.7%

Shares of Peakstone Realty Trust stock traded up $0.21 during trading on Friday, reaching $12.87. The company's stock had a trading volume of 131,000 shares, compared to its average volume of 183,028. Peakstone Realty Trust has a 1-year low of $9.89 and a 1-year high of $16.26. The company has a 50-day simple moving average of $11.99 and a two-hundred day simple moving average of $11.79. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.03. The company has a market cap of $473.23 million, a price-to-earnings ratio of -45.96 and a beta of 1.73.

Peakstone Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Monday, June 30th. Peakstone Realty Trust's dividend payout ratio (DPR) is -50.85%.

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.