Northern Trust Corp Acquires 52,119 Shares of Peakstone Realty Trust (NYSE:PKST)

Northern Trust Corp lifted its stake in Peakstone Realty Trust (NYSE:PKST - Free Report) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,451 shares of the company's stock after acquiring an additional 52,119 shares during the quarter. Northern Trust Corp owned approximately 1.02% of Peakstone Realty Trust worth $4,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PKST. Geode Capital Management LLC lifted its stake in Peakstone Realty Trust by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 929,777 shares of the company's stock valued at $10,295,000 after acquiring an additional 7,139 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Peakstone Realty Trust by 458.1% during the 4th quarter. Invesco Ltd. now owns 675,048 shares of the company's stock valued at $7,473,000 after purchasing an additional 554,091 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 12,403 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 80,980 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in Peakstone Realty Trust by 3.0% in the fourth quarter. Sigma Planning Corp now owns 144,713 shares of the company's stock worth $1,602,000 after purchasing an additional 4,160 shares in the last quarter. 38.98% of the stock is currently owned by hedge funds and other institutional investors.

Peakstone Realty Trust Stock Performance

PKST stock traded down $0.01 during midday trading on Wednesday, hitting $12.35. 143,575 shares of the company traded hands, compared to its average volume of 184,254. Peakstone Realty Trust has a twelve month low of $9.89 and a twelve month high of $16.26. The stock has a market capitalization of $453.96 million, a price-to-earnings ratio of -44.09 and a beta of 1.73. 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 business has a 50 day simple moving average of $11.99 and a 200-day simple moving average of $11.81.

Peakstone Realty Trust (NYSE:PKST - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.85. The business had revenue of $57.93 million during the quarter, compared to the consensus estimate of $54.68 million. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. As a group, equities research analysts predict that Peakstone Realty Trust will post 2.13 earnings per share for the current year.

Peakstone Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 7.29%. The ex-dividend date is Monday, June 30th. Peakstone Realty Trust's dividend payout ratio is currently -50.85%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased their target price on shares of Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a "hold" rating in a research report on Monday, March 24th. UBS Group increased their price objective on Peakstone Realty Trust from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, May 13th.

About Peakstone Realty Trust

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.