Charles Schwab Investment Management Inc. Acquires 251,858 Shares of Peakstone Realty Trust $PKST

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Peakstone Realty Trust by 69.3%, now owning 615,268 shares worth approximately $7.75 million.
• Analysts have set a new average target price of $16.00 for Peakstone Realty Trust, with ratings ranging from "Buy" to "Hold."
• Peakstone Realty Trust's stock opened at $12.67, showing a market cap of $466.13 million and a 1-year trading range between $10.14 and $16.26.

Charles Schwab Investment Management Inc. grew its stake in shares of Peakstone Realty Trust (NYSE:PKST - Free Report) by 69.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 615,268 shares of the company's stock after purchasing an additional 251,858 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.67% of Peakstone Realty Trust worth $7,752,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Aurora Private Wealth Inc. bought a new stake in shares of Peakstone Realty Trust in the first quarter valued at about $242,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Peakstone Realty Trust by 21.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,996 shares of the company's stock valued at $567,000 after acquiring an additional 8,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Peakstone Realty Trust in the first quarter valued at about $129,000. GAMMA Investing LLC raised its holdings 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 valued at $75,000 after acquiring an additional 4,362 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in Peakstone Realty Trust by 200.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 45,336 shares of the company's stock worth $502,000 after purchasing an additional 30,235 shares in the last quarter. 38.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Peakstone Realty Trust Stock Performance

Shares of NYSE PKST traded down $0.07 during trading on Friday, reaching $12.70. The stock had a trading volume of 155,595 shares, compared to its average volume of 195,645. Peakstone Realty Trust has a one year low of $10.14 and a one year high of $16.26. The company has a debt-to-equity ratio of 1.61, a quick ratio of 5.02 and a current ratio of 5.02. The stock has a market cap of $467.05 million, a PE ratio of -1.43 and a beta of 1.76. The firm's 50 day moving average price is $13.28 and its two-hundred day moving average price is $12.47.

Peakstone Realty Trust Cuts Dividend

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

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.