Charles Schwab Investment Management Inc. Has $7.75 Million Holdings in 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 holdings in Peakstone Realty Trust (NYSE:PKST - Free Report) by 69.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 615,268 shares of the company's stock after acquiring an additional 251,858 shares during the period. Charles Schwab Investment Management Inc. owned 1.67% of Peakstone Realty Trust worth $7,752,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Peakstone Realty Trust in the fourth quarter worth approximately $34,000. New Age Alpha Advisors LLC bought a new stake in Peakstone Realty Trust in the 1st quarter valued at $35,000. Ameriflex Group Inc. bought a new stake in Peakstone Realty Trust in the 4th quarter valued at $36,000. Quarry LP bought a new stake in Peakstone Realty Trust in the 4th quarter valued at $49,000. Finally, Bellwether Advisors LLC acquired a new position in shares of Peakstone Realty Trust in the 4th quarter valued at $52,000. 38.98% of the stock is owned by institutional investors.

Peakstone Realty Trust Trading Down 0.5%

Peakstone Realty Trust stock traded down $0.07 during midday trading on Monday, hitting $12.70. 155,595 shares of the stock were exchanged, compared to its average volume of 195,291. The company has a fifty day simple moving average of $13.26 and a two-hundred day simple moving average of $12.49. Peakstone Realty Trust has a 52 week low of $10.14 and a 52 week high of $16.26. The stock has a market capitalization of $467.05 million, a PE ratio of -1.43 and a beta of 1.76. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 1.61.

Peakstone Realty Trust Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.